Two major driving forces behind the food and beverage sector growth are the recovery of domestic consumption and the shift from traditional to modern channels shaped by the young.
Source: Free Pics
The Vietnam Report JSC has recently published the list of the Top 10 prestigious companies operating in the food and beverage sector in 2022.
The top 10 prestigious companies in the milk and dairy product sub-sector comprise Vinamilk, FrieslandCampina Vietnam, International Dairy Products, NutiFood, VitaDairy, Mộc Châu Milk, KIDO Foods, Mead Johnson Nutrition Vietnam, Nutricare, and Zott Vietnam.
In the alcoholic beverages sub-sector, 10 companies on top are Sabeco, Heineken Vietnam, Habeco, Carlsberg Vietnam, Hạ Long Beer and Beverage, Sapporo Vietnam, Ladofoods, AB InBev Vietnam, Huong Sen Group, and Sabibeco.
Meanwhile, C.P. Vietnam, Masan MEATLife, Vissan, GreenFeed Vietnam, Vĩnh Hoàn Corp., Dabaco Group, Minh Phú Seafood, Sao Ta Foods, Daesang Đức Việt, and Nam Việt Corp. have their names on the list of top prestigious companies in the fresh and frozen foods sub-sector.
The survey conducted by Vietnam Report in August showed that 90 percent of companies in the sector were running at over 80 percent of their pre-pandemic capacity. Remarkably, about 60 percent of the companies surpassed their capacity.
Roughly 86 percent saw higher sales in the general trade channel whereas the figures were approximately 85 percent for the modern trade channel and 87 percent for e-commerce.
Two major driving forces behind the sector growth are the recovery of domestic consumption and the shift from traditional to modern channels shaped by the young.
The survey showed that 98 percent of young people in big cities buy food and beverage in supermarkets and hypermarkets, 67 percent do so online and 41 percent go to convenience stores.
Over 94 percent of companies in the sector have an optimistic outlook for the rest of 2022. The outlook is relatively similar to a recent forecast by Mordor Intelligence Inc., which said the compounded annual growth rates of the food service industry would hit 8.5 percent between 2022 and 2027.
Vietnam Report's ranking methodology involves three main indicators, which are financial position expressed in the latest financial statements, media prestige assessed by the Media Coding method, and public opinion measured by the survey.