Vietnam Yogurt Market to Grow at CAGR of over 9.85% in the Next Five Years
Raising awareness towards health benefits of yogurt, varieties of new product
launches by the leading players drives the growth of Vietnam Yogurt Market through
2026.
According to TechSci
Research report, “Vietnam
Yogurt Market, By Type (Non-Flavored Flavored), By Fat
Content, (Regular, Low Fat, Fat-Free), By Form (Conventional Yogurt, Set Yogurt,
Greek Yogurt, Frozen Yogurt, Yogurt Drinks and Others), By Packaging (Pouches,
Plastic Bottles, Tetra Packs and Others), By Distribution Channel (Convenience
Stores, Independent Small Grocers, Supermarket/Hypermarket, Online Channel), By
Region, Competition, Forecast & Opportunities, 2026”, Vietnam Yogurt Market for non-flavored
and flavored yogurt is projected to surpass USD737 million by 2026. The growth of yogurt market in Vietnam is
propelled by factors such as increasing
awareness towards its health benefits and available nutritional content. Also,
Vietnamese cuisines are considered one of the healthiest cuisines in the world
and Vietnamese people predominantly use yogurt in their daily meal preparation
and breakfast. The
availability of different varieties of flavors in yogurt such as strawberry,
vanilla, mango, and blackcurrant are increasing the demand for yogurt, in
addition to the regular yogurt in the Vietnamese yogurt market. In addition,
due to the increasing incidence of lactose intolerance in consumers, they are opting
for different types of yogurt such as plant-based yogurt. Also, Vietnamese
consumers have started consuming specialized yogurt such as low fat and fat-free
yogurt. Additionally, domestic and international producers are focusing on the product
varieties in yogurt segment and launching products as perthe consumer preferences in the Vietnamese
market, this is further expected
to drive the growth of Vietnam Yogurt Market in the forecast period as well.
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Based on the type, Vietnamese
yogurt market is segmented into flavored and non-flavored yogurt types. In the
base year, 2020 non-flavored type yogurt captured the largest market share in
the Vietnam Yogurt Market with approximate 51% market share, due to higher
preference for natural taste by the Vietnamese consumers. Also, the flavored
segment is the fastest-growing segment due to the widening consumer demands of varieties
of flavors and increased product offerings by the domestic and global players
especially due the increasing influence from the western market such as Europe
and the United States.
Furthermore, based on the fat content,
yogurt market in Vietnam is segmented into three segments including regular,
low fat, fat-free yogurt. In the base year, 2020 regular type yogurt held the
largest market share of around 62%, due to the taste adaptability of the
Vietnamese consumers for regular type of yogurt and low cost, in comparison to
the low fat and fat-free yogurt. However, low fat and fat-free yogurt are
increasing with the very high CAGR in the forecast period, due to the
increasing adoption of these yogurt and widening preferences of young consumers
for low fat and fat-free yogurt, due to lifestyle changes and increasing
awareness and benefits of consuming low fat and fat-free yogurt.
Also, based on the form, the Vietnamese yogurt
market is segmented into conventional yogurt,
set yogurt, greek yogurt, frozen yogurt, yogurt drinks and others. From all the given segments yogurt drinks segment
holds the largest market share in the Vietnam Yogurt Market due to availability
of various flavors in the yogurt drink segment.
By Packaging Type, the Vietnamese
yogurt market is differentiated in pouches, plastic bottles, tetra packs and
others. Plastic Bottles type of packaging
is dominated in the Vietnamese yogurt market with the others segment, in the base
year 2020, due to the high consumption yogurt drinks and availability for
various flavored yogurt in cup sizes.
Based on the Distribution channel
the Vietnamese yogurt market is segmented into convenience stores, independent small
grocers, supermarket/hypermarket, online channel. The convenience stores
segment held the largest market share in the Vietnamese yogurt market in the base
year 2020, mainly due to the easy accessibility and well-manged supply chain
with the other partners.
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“Vietnamese
yogurt market is a very lucrative market and have opened many opportunities for
the upcoming players. At present companies such as Vietnam
Dairy Products Joint Stock Company, TH Food Chains Joint Stock Company,
International Dairy Joint Stock Company, Nestlé Vietnam Co., Ltd, Friesland Campina
Co., Ltd holding
impressive market share in Vietnam Yogurt Market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Vietnam Yogurt Market , By Type (Non-Flavored, Flavored),
By Fat Content, (Regular, Low Fat, Fat-Free), By Form (Conventional Yogurt, Set
Yogurt, Greek Yogurt, Frozen Yogurt, Yogurt Drinks and Others), By Packaging
(Pouches, Plastic Bottles, Tetra Packs and Others), By Distribution Channel
(Convenience Stores, Independent Small Grocers, Supermarket/Hypermarket, Online
Channel), By Region, Competition, Forecast & Opportunities, 2026” has
evaluated the future growth potential of Vietnam Yogurt Market and provides statistics and information on
market structure, size, share and future growth. The report is intended to
provide cutting-edge market intelligence and help decision makers to take sound
investment decision. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in Vietnam Yogurt Market.
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