Bread & Cereal Products - Vietnam

Vietnam

Revenue in the Bread & Bakery Products market amounts to €15.27bn in 2024. The market is expected to grow annually by 5.93% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€257bn in 2024).
In relation to total population figures, per person revenues of €153.40 are generated in 2024.
In the Bread & Bakery Products market, volume is expected to amount to 12.34bn kg by 2029. The Bread & Bakery Products market is expected to show a volume growth of 2.9% in 2025.
The average volume per person in the Bread & Bakery Products market is expected to amount to 110.1kg in 2024.

Key regions: Philippines, United States, Canada, India, China

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Bread & Cereal Products Market in Vietnam is experiencing minimal growth due to factors such as increasing competition from traditional food products, rising consumer preference for locally sourced ingredients, and limited access to digital technologies in rural areas. Despite these challenges, the market is expected to see slight growth as demand for convenience and healthy options continues to rise.

Customer preferences: Consumers in Vietnam are increasingly turning towards healthy and convenient options in the Bread & Cereal Products Market. This trend is driven by a growing awareness of the importance of a balanced diet and a busy urban lifestyle. As a result, there has been a rise in demand for whole grain and plant-based products, as well as ready-to-eat breakfast options. Additionally, there is a growing preference for locally sourced and organic products, reflecting a shift towards sustainable and ethical consumption.

Trends in the market: In Vietnam, there is a growing demand for healthier and more convenient bread and cereal products, driven by a rising health consciousness among consumers. This has led to an increase in the availability of gluten-free, organic, and fortified options in the market. Additionally, there is a trend towards using local ingredients and traditional flavors in these products. This shift towards healthier and locally sourced options is significant for industry stakeholders, as it presents opportunities for product innovation and differentiation. It also aligns with the government's efforts to promote a healthier and more sustainable food industry in Vietnam.

Local special circumstances: In Vietnam, the Bread & Cereal Products Market within The Food market is heavily influenced by the country's traditional diet, which includes a high consumption of rice and noodles. This has led to a unique demand for products such as rice-based cereals and snacks. Additionally, Vietnam's rapidly growing middle class and increasing urbanization have resulted in a shift towards convenience and healthier food options, driving the demand for breakfast cereals and oatmeal. The government's efforts to promote food safety and improve infrastructure in the rural areas have also played a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Bread & Cereal Products Market in Vietnam is largely impacted by macroeconomic factors such as changes in global economic trends, fluctuations in national economic health, and fiscal policies that affect consumer spending power. Additionally, government initiatives to promote healthy eating habits and increased investment in the food industry are driving the market growth. The rising population and changing demographics in Vietnam, including a growing middle class and urbanization, are also contributing to the demand for convenient and nutritious bread and cereal products. Furthermore, the increasing health consciousness among consumers and the trend towards a Westernized diet are influencing the market's performance.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.