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In 2023, Vietnamese dairy company Vinamilk was the most chosen FMCG brand in urban areas in Vietnam, having ** million Consumer Reach Points (CRPs). This was followed by TH, with 18 million CRPs. Also in second place was Hao Hao, an instant noodles brand under Acecook Vietnam.

Vinamilk’s domination over the dairy market in Vietnam

Headquartered in Ho Chi Minh City, Vinamilk is the largest dairy corporation in Vietnam. The formerly state-owned firm is now the leading player in Vietnam’s dairy sector, holding almost half of the market share within this sector. Since Vietnam has a fast-growing dairy market with increasing retail sales value, Vinamilk has been enjoying yearly growth in revenue as the market leader. Vinamilk's product portfolio includes its signature items such as drinking milk and yogurt and more recently introduced products like cheese, cream, and ice cream.

Growing FMCG market and impact of COVID-19 on FMCG categories in Vietnam

The FMCG industry in Vietnam has been growing fast in recent years alongside the country’s rapid economic development. The retail sales of consumer goods in the country had recorded double-digit annual growth before slowing down to *** percent in 2020 due to the COVID-19 pandemic. Amidst the pandemic, dry food items and personal hygiene products were the leading goods purchased for stockpiling among Vietnamese. As a result, the highest value growth rates among all FMCG categories in 2020 have been observed among personal care and packaged foods.