Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.

Vietnam Food Processing Market 2016

3 514 vues

Publié le

StoxPlus is pleased to introduce Vietnam Food Processing Market 2016 Report, the first issue on this industry. This report presents a board range of topics, both sector-specific and cross-cutting market issues.
We have completed the review of food processing landscape in Vietnam, including the market overview, analysis of demand, supply, distribution, value chain and competitive landscape of each segments, investment activities and legal framework.
Below are the most critical findings in our first issue:
1. Total industry is valued at 4 US$bn. Food processing industry can be segmented into 4 sections – processed seafood, processed meat, Milk products and processed fruit & vegetables. Processed seafood and Milk products are the biggest segments.
2. Growth of processed seafood sale depended heavily on sale of export processed seafood. Therefore, export companies receive favourable support from the government. Total sales of export processed seafood picked up during 2010-2014 with CAGR of 13% but fell in 2015 because of numerous reasons including depreciation of the Japanese Yen and European Euro, pressure of anti-dumping laws from the US, …
Domestic production of processed seafood was equivalent to 40% of total seafood production, increasing steadily at 2-3% annual since 2011. Currently, factories are not operating efficiently at designed capacity due to the lack of raw ingredient supply.
See more at https://biinform.com/Reports/183-vietnam-food-processing-market-2016-3570.html

Publié dans : Alimentation
  • Identifiez-vous pour voir les commentaires

Vietnam Food Processing Market 2016

  1. 1. ‹#› Vietnam Food Processing Market 2016 Date of the report: 1st August 2016 Part of StoxPlus’s Market Research Report Series for Vietnam www.biinform.com @ 2016 StoxPlus Corporation. All rights reserved. All information contained in this publication is copyrighted in the name of StoxPlus, and as such no part of this publication may be reproduced, repackaged, redistributed, resold in whole or in any part, or used in any form or by any means graphic, electronic or mechanical, including photocopying, recording, taping, or by information storage or retrieval, or by any other means, without the express written consent of the publisher.
  2. 2. 2 Date: 1st August, 2016 Dear Our Valued Customer, Re: The publication of Vietnam Food Processing Market Report 2016 I am pleased to pleased to announce the publication of Vietnam Food Processing Market Report 2016. The purpose of research work is to have an in-depth understanding of food processing market in Vietnam and assessing potential of the market. We also highlighted current market size as well as potential demand of commercial cold storage for each segment. We believe it should be further studied and evaluated. In addition to our experience in this industry, we have conducted various discussions and interviews with industry players, distribution partners at executive levels to grasp local insights and the practical ways of the market in Vietnam. We understand that this is a targeted but also an open research. We would be happy to provide any further information to address any questions that you may have, for any specific sector or target business in Vietnam. Our ultimate objective is to bring real values to our clients via in-depth research and practical local insights. Should you have any questions, please contact I myself or our Managing Director, Ms. Lan Nguyen at +84-4-35626962 (ext. 109) or her email: lan.nguyen@stoxplus.com Yours sincerely, Nguyen Quang Thuan CEO StoxPlus Corporation StoxPlus Joint Stock Company Head Office 5th Floor, Anh Minh Building 36 Hoang Cau, Dong Da Hanoi, Vietnam telephone: +84 (4) 3562 6962 facsimile: +84 (4) 3562 5055 stoxplus.com Ho Chi Minh City Branch 2nd Floor, May Plaza 63D Vo Van Tan Street, District 3 Ho Chi Minh City, Vietnam telephone: +84 (8) 3823 3485 facsimile: +84 (8) 3827 3068
  3. 3. 3 Table of Contents Part Content Page Executive Summary 1 Vietnam Food Processing Market Overview 1.1 Market structure and description 1.2 Market Size 1.3 Value chain structure 1.4 Major M&A 2 Segment Analysis 2.1 Processed Seafood Seafood Industry Supply Analysis Demand Analysis Distribution Competitive Landscape 2.2 Processed Meat Meat Industry Supply Analysis Demand Analysis Distribution Part Content Page Competitive Landscape 2.3 Milk products Milk Industry Supply Analysis Demand Analysis Distribution Competitive Landscape 2.4 Processed Fruit & Vegetables Fruit & Vegetables Industry Supply Analysis Demand Analysis Distribution Competitive Landscape 3 Macroeconomic Situation & Regulatory Framework Macroeconomics Regulatory Framework
  4. 4. 4 Executive Summary This content is intentionally removed for demo purpose
  5. 5. 5 Executive Summary (cont.) This content is intentionally removed for demo purpose
  6. 6. 6 Abbreviation No. Abbrev. Stand for 1 bn billion 2 Agifish An Giang Fisheries Import & Export Co. 3 CHOLIMEX Cho Lon Import & Export Co. 4 CAGR Compound Annual Growth Rate 5 FPO Farmer Producer Organization 6 FMCG Fast-Moving Consumer Goods 7 FDI Foreign Direct Investment 8 F&V Fruit & Vegetables 9 Hanfoco Halong Canned Food Co. 10 IDP International Dairy Producers 11 IDI International Development Investment 12 MT Metric Ton 13 mn million 14 MARD Ministry of Agriculture and Rural Development 15 SAGRI Saigon Agriculture & Processed Food 16 SATRA Saigon Trading Group 17 STAPIMEX Soc Trang Seafood Jsc 18 SOE State-owned Enterprise 19 VEGETIGI Tien Giang Vegetables & Fruit Jsc 20 Tbd To Be Determined 21 US$ US Dollar 22 VASEP Vietnam Association of Seafood Exporters and Producers
  7. 7. 7 Contents Section 1: Vietnam Food Processing Market Overview 1.1 Market structure and description 1.2 Market Size 1.3 Value chain structure 1.4 Major M&A
  8. 8. 8 Food processing market is comprised of 4 segments: Processed Seafood, Processed Meat, Milk Products and Processed Fruit and Vegetables Figure 01: Market Structure Section 1: Vietnam Food Processing Market Overview Market Structure Food Processing Processed Meat Processed Seafood Milk Products Processed Fruit and Vegetables This content is intentionally removed for demo purpose
  9. 9. 9 Contents Section 1: Vietnam Food Processing Market Overview 1.1 Market structure and description 1.2 Market Size 1.3 Value chain structure 1.4 Major M&A
  10. 10. 10 Vietnamese food industry witnessed steady growth over the last few years fueled by increasing expenditure of consumer Section 1: Vietnam Food Processing Market Overview Market Size & Segmentation Figure 02: Total Food consumption 2011-2015 Source: StoxPlus, BMI 18.8 21.2 23.6 27.6 32.1 0 5 10 15 20 0 5 10 15 20 25 30 35 2011 2012 2013 2014 2015 US$bn Food Consumption (USbn) % y-o-y Figure 03: Average food and total expenditure per capita, 2006- 2014 Source: GSO, StoxPlus estimate 0 500 1000 1500 2000 2500 2006 2008 2010 2012 2014 '000VND Food Expenditure Total Expenditure This content is intentionally removed for demo purpose
  11. 11. 11 Key Development Milestones of Vietnam Food Processing Market Section 1: Vietnam Food Processing Market Overview Market Size & Segmentation Figure 04: Food processing industry key development milestones (including major companies in each segment) Source: StoxPlus 1957 20162014 2015 1954 1990 2001 2011 2016 We are here Vinamilk 1976 1995 CP Vietnam 1998 2001 Vissan 1970 20091954 This content is intentionally removed for demo purpose
  12. 12. 12 Food processing industry is divided into 4 segments Section 1: Vietnam Food Processing Market Overview Market Size & Segmentation FOOD PROCESSING PROCESSED SEAFOOD PROCESSED FRUIT AND VEGETABLES PROCESSED MEAT Milk products This content is intentionally removed for demo purpose
  13. 13. 13 Besides processed seafood, most food processing segments have grown, on average, 15% annually since 2011 Section 1: Vietnam Food Processing Market Overview Market Size & Segmentation Figure 05: Food processing market size, 2011-2015 Source: StoxPlus Processed Seafood Processed Meat Milk products Processed Fruit & Vegetables Food Processing CAGR CAGR CAGR CAGR *CAGR is calculated for period 2010-2014. The sharp decline in 2015 is excluded as an outlier. This content is intentionally removed for demo purpose
  14. 14. 14 Contents Section 1: Vietnam Food Processing Market Overview 1.1 Market structure and description 1.2 Market Size 1.3 Value chain structure 1.4 Major M&A
  15. 15. 15 Vietnamese food processing industry is still fragmented and mainly focuses on preliminary processing stage Section 1: Vietnam Food Processing Market Overview Value Chain Structure Production Local Trading & Processing Secondary Processing Packaging Distribution Export/Retail This content is intentionally removed for demo purpose
  16. 16. 16 Contents Section 1: Vietnam Food Processing Market Overview 1.1 Market structure and description 1.2 Market Size 1.3 Value chain structure 1.4 Major M&A
  17. 17. 17 Vietnam food processing industry witnessed some major M&A deals, especially from South Korea Section 1: Vietnam Food Processing Market Overview Major M&A Acquirer Country Target company Deal value Year 1 South Korea 2015 2 Japan 2015 3 Thailand 2015 4 South Korea 2015 5 Vietnam 2016 Figure 06: Significant M&A deals in food processing industry, 2015-2016 Source: StoxPlus This content is intentionally removed for demo purpose
  18. 18. 18 Contents Section 2: Segment Analysis 2.1 Processed Seafood 2.2 Processed Meat 2.3 Milk Products 2.4 Processed Fruit & Vegetables
  19. 19. 19 Vietnam seafood domestic production continues the upward trend with total volume of *** million tonnes in 2015 Section 2: Segment Analysis Processed Seafood Figure 07: Domestic production of seafood, 2011-2015 Figure 08: Growth of Vietnam seafood market • Vietnam seafood production consists of two main components, namely (i) wild-caught and (ii) farm-raised. As of 2015, total production volume reached *** million tonnes, of which approx. ***% are wild-caught. Source: StoxPlus, VASEP Source: StoxPlus, VASEP Seafood Industry This content is intentionally removed for demo purpose
  20. 20. 20 Both imported and exported seafood are used mainly as raw materials for reprocessing Section 2: Segment Analysis Processed Seafood Figure 09: Vietnam seafood import and export value Source: StoxPlus, General Customs Seafood Industry This content is intentionally removed for demo purpose
  21. 21. 21 Section 2: Segment Analysis Processed Seafood Figure 10: Domestic production of processed seafood, 2011-2015 Source: StoxPlus, MARD Supply Domestic production of processed seafood was equivalent to ***% of total seafood production, of which ***% went into export This content is intentionally removed for demo purpose
  22. 22. 22 The *** regions possess a much higher capacity as well as more diverse product types Section 2: Segment Analysis Processed Seafood Figure 11: Capacity of seafood processing companies, 2015 Source: StoxPlus, VASEP North Average Real Capacity/Designed Capacity of Region Mekong Delta Southeast % Central Types of Business Average Capacity (MT/year) State-owned Private/JSC FDI Main processed products: Main processed products: Main processed products: Main processed products: Supply This content is intentionally removed for demo purpose
  23. 23. 23 The concentration and high capacity of companies in *** and the *** are due to *** Section 2: Segment Analysis Processed Seafood Figure 12: Distribution of seafood processing companies, 2015 Source: StoxPlus, VASEP North Mekong Delta Southeast Central Supply This content is intentionally removed for demo purpose
  24. 24. 24 Most of the new factories are built in the South; however the biggest comes from the leading player, ***, in Central Vietnam Section 2: Segment Analysis Processed Seafood Figure 13: New investments in seafood processing No Owner Type of investment Location Year in Operation Capacity Total area (m2) Total Investment (US$) 1 New 2015 2 New 2016 3 Expansion 2016 4 New 2016 5 Expansion 2018 6 New 2016 7 Expansion 2015 8 New 2016 Source: StoxPlus Supply This content is intentionally removed for demo purpose
  25. 25. 25 Growth of processed seafood sales depends mostly on growth of *** Section 2: Segment Analysis Processed Seafood Figure 14: Total sales of processed seafood by value, 2011-2015 Source: StoxPlus Figure 15: Growth of processed seafood sales, 2011-2015 Source: StoxPlus *Conversion from VND to USD might lower the growth rates by 2-3% due to depreciation of VND Demand This content is intentionally removed for demo purpose
  26. 26. 26 ...while domestic market contributed little but has experienced steady growth Section 2: Segment Analysis Processed Seafood Source: StoxPlus Demand Figure 16: Domestic sales of processed seafood by volume, 2011-2015 This content is intentionally removed for demo purpose
  27. 27. 27 *** seafood are most preferred by both markets while domestic market also consumed a relatively high amount of shelf stable seafood Section 2: Segment Analysis Processed Seafood Figure 17: Breakdown of sub-segment of domestic processed seafood by value, 2014-2015 Figure 18: Breakdown of sub-segment of export processed seafood by value, 2014-2015 Domestic market Export market Source: StoxPlus Source: StoxPlus Demand This content is intentionally removed for demo purpose
  28. 28. 28 Section 2: Segment Analysis Processed Seafood Figure 19: Processed seafood value chain Domestic Export Distribution This content is intentionally removed for demo purpose
  29. 29. 29 For domestic market, processed seafood is distributed mostly through traditional grocery retailers Section 2: Segment Analysis Processed Seafood Figure 20: Distribution Channels, % value 2015 Convenience Stores Hypermarkets Supermarkets Source: StoxPlus Distribution This content is intentionally removed for demo purpose
  30. 30. 30 Processed seafood still has great potential with the government support if supply is adequately controlled and anti-dumping law is successfully negotiated Section 2: Segment Analysis Processed Seafood SWOT WEAKNESSSTRENGTH THREATSOPPORTUNITIES This content is intentionally removed for demo purpose
  31. 31. 31 DomesticExport *** companies dominate export segment while *** is the leader in domestic with half the market share Section 2: Segment Analysis Processed Seafood Figure 21: Processed Seafood Market share, % retail value 2015 Competitive Landscape Source: StoxPlus This content is intentionally removed for demo purpose
  32. 32. 32 The segment is dominated by *** with half the market share Section 2: Segment Analysis Processed Seafood Competitive Landscape Export Market Import Market This content is intentionally removed for demo purpose
  33. 33. 33 Overall, most processed seafood exporters had better returns compared to companies serving domestic market Section 2: Segment Analysis Processed Seafood Figure 22: EBITDA % ratio of major processed seafood companies, 2015 Competitive Landscape Source: StoxPlus Top domestic sale Mainly export This content is intentionally removed for demo purpose
  34. 34. 34 Section 2: Segment Analysis Processed Seafood Ha Long Canned Food Joint Stock Corporation Ownership structure Company Profiling Products and Services Financial highlights Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  35. 35. 35 Section 2: Segment Analysis Processed Seafood Special Aquatic Products Joint Stock Company – SEASPIMEX VIETNAM Ownership structure Company Profiling Products and Services Financial highlights Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  36. 36. 36 Section 2: Segment Analysis Processed Seafood Angiang Fisheries Import Export Join Stock Company Ownership structure Company Profiling Products and Services Financial highlights Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  37. 37. 37 Contents Section 2: Segment Analysis 2.1 Processed Seafood 2.2 Processed Meat 2.3 Milk Products 2.4 Processed Fruit & Vegetables
  38. 38. 38 Vietnam domestic meat production continues the upward trend with total volume of *** million MT in 2015 Figure 23: Domestic production of meat, 2015 Figure 24: Meat import to Vietnam, 2015 • We estimated that total meat production for three categories namely pork, poultry and beef amount to approximately *** by 2015. Source: StoxPlus, VASEP Section 2: Segment Analysis Processed Meat Source: StoxPlus, Department of Livestock (MARD) Source: StoxPlus, Department of Livestock (MARD) from General Customs Volume '000 tonnes Price US$/kg Market size US$mn Pork Poultry Beef & Veal Meat Indsutry This content is intentionally removed for demo purpose
  39. 39. 39 Domestic production of processed meat is still at a fairly underdeveloped stage Figure 25: Domestic production of processed meat, 2011-2015 Source: StoxPlus, MARD Section 2: Segment Analysis Processed Meat Supply This content is intentionally removed for demo purpose
  40. 40. 40 *** companies have a much bigger capacity than *** ones due to *** Figure 26: Distribution of meat processing companies, 2015 Source: StoxPlus, MARD Section 2: Segment Analysis Processed Meat Average Real Capacity/Designed Capacity of Region North Central South Types of Business Average Capacity (MT/year) State-owned Private/JSC FDI Supply This content is intentionally removed for demo purpose
  41. 41. 41 Vietnam only has *** companies with industrial processing capacity of *** products per year Figure 27: Distribution of meat processing companies, 2015 Source: StoxPlus, MARD Section 2: Segment Analysis Processed Meat Government-owned Private/JSC North Central South Supply This content is intentionally removed for demo purpose
  42. 42. 42 Section 2: Segment Analysis Processed Meat Figure 28: New investments in meat processing No Owner Type of investment Location Year in Operation Capacity Total area (m2) Total Investment (US$) 1 Expansion P1:2015 P2:2020 2 New 2015 3 New 2016 4 New 2016 Source: StoxPlus Supply This content is intentionally removed for demo purpose
  43. 43. 43 More competition resulted in *** growth rate of processed meat segment Section 2: Segment Analysis Processed Meat Figure 29: Total sales of processed meat by value, 2011-2015 Source: StoxPlus Figure 30: Total sales of processed meat by volume, 2011-2015 Source: StoxPlus *Conversion from VND to USD might lower the growth rates by 2-3% due to depreciation of VND Demand This content is intentionally removed for demo purpose
  44. 44. 44 Shelf stable meat and chilled processed meat took up more than ***% of total value and volume of processed meat Section 2: Segment Analysis Processed Meat Figure 31: Breakdown of sub-segment of processed meat by value, 2011-2015 Figure 32: Breakdown of sub-segment of processed meat by volume, 2011-2015 Demand This content is intentionally removed for demo purpose
  45. 45. 45 The Vietnamese food market is witnessing an increasingly fierce competition between sausage manufacturers Section 2: Segment Analysis Processed Meat Figure 33: Breakdown of Processed Poultry Product, % of sales value, 2011-2015 Source: StoxPlus, Euromonitor Figure 34: Market share of sausage manufacturers, 2015 Source: StoxPlus estimation Demand This content is intentionally removed for demo purpose
  46. 46. 46 Vissan is a prime example showing remarkable profitability from processed meat segment, especially in the *** category Section 2: Segment Analysis Processed Meat Figure 35: Breakdown of Vissan gross profit margin structure, 9M2015 Source: StoxPlu, Vissan’s annual report Demand Steady and high gross profit margin This content is intentionally removed for demo purpose
  47. 47. 47 Section 2: Segment Analysis Processed Meat Figure 36: Processed meat value chain Distribution This content is intentionally removed for demo purpose
  48. 48. 48 Section 2: Segment Analysis Processed Meat Figure 37: CP “3F” model (Feed – Farm – Food) • All owned by CP CP Branding & Marketing Distribution This content is intentionally removed for demo purpose
  49. 49. 49 Similar to processed seafood, traditional grocery retailers is the dominating distribution channel of processed meat Figure 38: Distribution Channels, % value 2015 Section 2: Segment Analysis Processed Meat Source: StoxPlus Distribution This content is intentionally removed for demo purpose
  50. 50. 50 Section 2: Segment Analysis Processed Meat WEAKNESSSTRENGTH THREATSOPPORTUNITIES SWOT This content is intentionally removed for demo purpose
  51. 51. 51 Figure 39: Processed meat Market share, % retail value 2015 Section 2: Segment Analysis Processed Meat Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  52. 52. 52 Section 2: Segment Analysis Processed Meat Domestic Companies Foreign-owned Companies Competitive Landscape This content is intentionally removed for demo purpose
  53. 53. 53 Section 2: Segment Analysis Processed Meat Figure 40: Gross profit margin of major processed meat companies, 2014 Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  54. 54. 54 Section 2: Segment Analysis Processed Meat Vissan Co., ltd Ownership structure Company Profiling Products and Services Financial highlights Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  55. 55. 55 Section 2: Segment Analysis Processed Meat Cau Tre Export Goods Processing Joint Stock Company Ownership structure Company Profiling Products and Services Financial highlights Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  56. 56. 56 Company Profiling Production Sites C.P Vietnam Key financial indicators of C.P Vietnam in 2014 Source: StoxPlus Production sites of C.P Vietnam (food processing business) Source: Vietnam Fishery Society, Company Website Phu Nghia – Ha Noi • 01 food processing plant Ben Tre • 01 seafood processing plant Thua Thien – Hue • 01 frozen shrimp processing plant Key Financials Section 2: Segment Analysis Processed Meat Competitive Landscape This content is intentionally removed for demo purpose
  57. 57. 57 Contents Section 2: Segment Analysis 2.1 Processed Seafood 2.2 Processed Meat 2.3 Milk Products 2.4 Processed Fruit & Vegetables
  58. 58. 58 Vietnam domestic milk production could only fulfill ***% of domestic demand, leading to high import value of milk and milk products Figure 41: Domestic production of milk, 2010-2015 Figure 42: Milk and milk products import to Vietnam, 2015 Source: StoxPlus, General Customs Section 2: Segment Analysis Milk Products Source: StoxPlus, MARD Supply This content is intentionally removed for demo purpose
  59. 59. 59 As Milk products is a concentrated industry, most factories belong to a few major players with *** owning the most factories Figure 43: Distribution of Milk products factories, 2015 Source: StoxPlus Section 2: Segment Analysis Milk Products North Central South Vinamilk TH True Milk Nutifood Supply This content is intentionally removed for demo purpose
  60. 60. 60 Even though there are more factories in the ***, the ones in the *** have bigger capacity since they were built more recently thus owning better technology Figure 44: Capacity of major Milk products companies (mn liters), 2015 Source: StoxPlus Section 2: Segment Analysis Milk Products North Central South Total ***mn liters Total Total Supply This content is intentionally removed for demo purpose
  61. 61. 61 To serve the growing industry, all main players in the industry continue to expand or build new factories to increase their capacity Section 2: Segment Analysis Milk Products Figure 45: New investments in Milk products No Owner Type of investment Location Year in Operation Capacity Total area (m2) Total Investment (US$) 1 2 3 Source: StoxPlus Supply This content is intentionally removed for demo purpose
  62. 62. 62 Valued at ***US$bn, Milk products is the largest food processing segment Section 2: Segment Analysis Milk Products Figure 46: Total sales of Milk products by value, 2011-2015 Source: StoxPlus Figure 47: Total sales of Milk products by volume, 2011-2015 Source: StoxPlus *Conversion from VND to USD might lower the growth rates by 2-3% due to depreciation of VND Demand This content is intentionally removed for demo purpose
  63. 63. 63 *** dominated two thirds of the segment thanks to increasing *** consumption per capita in the last 5 years Figure 48: Breakdown of sub-segment of Milk products by % value, 2011-2015 Section 2: Segment Analysis Milk Products Figure 49: Breakdown of sub-segment of Milk products by % volume, 2011-2015 Demand This content is intentionally removed for demo purpose
  64. 64. 64 Growth was experienced across all segments with *** products having the highest CAGR during 2011-2015 at ***% Section 2: Segment Analysis Milk Products Figure 50: Breakdown of total sales of Milk products by value (US$mn), 2011-2015 Source: StoxPlus Demand CAGR ***% CAGR 12% CAGR ***% CAGR ***% This content is intentionally removed for demo purpose
  65. 65. 65 Section 2: Segment Analysis Milk Products Figure 51: Milk products value chain Distribution This content is intentionally removed for demo purpose
  66. 66. 66 Milk is distributed mainly in traditional grocery retailers… Figure 52: Milk Distribution Channels, % value 2015 Section 2: Segment Analysis Milk Products Source: StoxPlus Supermarkets and hypermarkets share the equally low contribution Distribution This content is intentionally removed for demo purpose
  67. 67. 67 … while Yoghurt is becoming popular in modern grocery retailers Figure 53: Yoghurt Distribution Channels, % value 2015 Section 2: Segment Analysis Milk Products Source: StoxPlus Distribution This content is intentionally removed for demo purpose
  68. 68. 68 Section 2: Segment Analysis Milk Products WEAKNESSSTRENGTH THREATSOPPORTUNITIES SWOT This content is intentionally removed for demo purpose
  69. 69. 69 Vinamilk and Friesland Campina maintain their leading position with ***% total market share Figure 54: Milk products Companies Market share, % retail value 2015 Section 2: Segment Analysis Milk Products Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  70. 70. 70 Section 2: Segment Analysis Milk Products Figure 55: Breakdown of market share per segment, 2015 Source: StoxPlusSource: StoxPlus Milk and milk products Others Cheese Yoghurt Milk products Competitive Landscape This content is intentionally removed for demo purpose
  71. 71. 71 Section 2: Segment Analysis Milk Products Domestic Companies Foreign-owned Companies Competitive Landscape This content is intentionally removed for demo purpose
  72. 72. 72 Section 2: Segment Analysis Milk Products Figure 56: Gross profit margin of major Milk products companies, 2013- 2014 Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  73. 73. 73 Vietnam Dairy Product Joint Stock Company (VINAMILK) Ownership structure Company Profiling Products and Services Financial highlights Section 2: Segment Analysis Milk Products Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  74. 74. 74 FrieslandCampina Vietnam Ownership structure Company Profiling Products and Services Financial highlights Section 2: Segment Analysis Milk Products Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  75. 75. 75 TH Food Chain Joint Stock Company (TH True Milk) Ownership structure Company Profiling Products and Services Financial highlights Section 2: Segment Analysis Milk Products Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  76. 76. 76 Contents Section 2: Segment Analysis 2.1 Processed Seafood 2.2 Processed Meat 2.3 Milk Products 2.4 Processed Fruit & Vegetables
  77. 77. 77 Vietnam fruit & vegetables sector posts a good performance in the period 2010– 2015 with export value of US$***bn in 2015 Figure 57: Fruit & vegetables import/export value in Vietnam Figure 58: Fruit & vegetables export volume by products Source: Vinafruit Section 2: Segment Analysis Processed Fruit & Vegetables Source: StoxPlus, General Customs Fruit & Vegetables Industry This content is intentionally removed for demo purpose
  78. 78. 78 Domestic production of processed fruit & vegetables depends on the growth of export market Figure 59: Domestic production of processed F&V, 2011-2015 Source: StoxPlus estimation Section 2: Segment Analysis Processed Fruit & Vegetables Supply This content is intentionally removed for demo purpose
  79. 79. 79 Figure 60: Distribution of F&V processing companies, 2015 Source: StoxPlus, MARD Section 2: Segment Analysis Processed Fruit & Vegetables % % North Central South Average Real Capacity/Designed Capacity of Region % Types of Business Average Capacity (MT/year) State-owned Private/JSC FDI Supply This content is intentionally removed for demo purpose
  80. 80. 80 There are only *** industrial-grade companies produce processed fruit & vegetables in Vietnam Figure 61: Distribution of F&V processing companies, 2015 Source: StoxPlus, MARD Section 2: Segment Analysis Processed Fruit & Vegetables Government- owned Private/JSC FDI North Central South Supply This content is intentionally removed for demo purpose
  81. 81. 81 Most new investments come from companies that mainly serve the export market Section 2: Segment Analysis Processed Fruit & Vegetables Figure 62: New investments in processed fruit & vegetables No Owner Type of investment Location Year in Operation Capacity Total area (m2) Total Investment (US$) 1 New 2017 2 New 2017 3 New 2016 4 New 2017 5 New 2016 Source: StoxPlus Supply This content is intentionally removed for demo purpose
  82. 82. 82 Vietnamese customers’ *** is the biggest barrier for domestic market to grow Section 2: Segment Analysis Processed Fruit & Vegetables Figure 63: Domestic sales of processed F&V by value, 2011-2015 Source: StoxPlus Figure 64: Domestic sales of processed F&V by volume, 2011-2015 Source: StoxPlus *Conversion from VND to USD might lower the growth rates by 2-3% due to depreciation of VND Demand This content is intentionally removed for demo purpose
  83. 83. 83 The most popular products were *** due to its diverse uses Figure 65: Breakdown of sub-segment of processed F&V by value, 2011-2015 Figure 66: Breakdown of sub-segment of processed F&V by volume, 2011-2015 Section 2: Segment Analysis Processed Fruit & Vegetables Demand This content is intentionally removed for demo purpose
  84. 84. 84 Section 2: Segment Analysis Processed Fruit & Vegetables Figure 67: Processed fruit & vegetables value chain Distribution This content is intentionally removed for demo purpose
  85. 85. 85 Figure 68: Distribution Channels, % value 2015 Section 2: Segment Analysis Processed Fruit & Vegetables Source: StoxPlus Distribution This content is intentionally removed for demo purpose
  86. 86. 86 Section 2: Segment Analysis Processed Fruit & Vegetables WEAKNESSSTRENGTH THREATSOPPORTUNITIES SWOT This content is intentionally removed for demo purpose
  87. 87. 87 Figure 69: Processed Fruit & Vegetables Market share, % retail value 2015 Section 2: Segment Analysis Processed Fruit & Vegetables Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  88. 88. 88 Section 2: Segment Analysis Processed Fruit & Vegetables Domestic Companies Foreign-owned Companies Competitive Landscape This content is intentionally removed for demo purpose
  89. 89. 89 Section 2: Segment Analysis Processed Fruit & Vegetables Figure 70: Net profit margin of major processed fruit & vegetables companies, 2013-2014 Source: StoxPlus Competitive Landscape This content is intentionally removed for demo purpose
  90. 90. 90 Vietnam National Vegetable, Fruit and Agricultural Product Corporation JSC (Vegetexco) Ownership structure Company Profiling Products and Services Financial highlights Section 2: Segment Analysis Processed Fruit & Vegetables Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  91. 91. 91 An Giang Fruit-Vegetables and Foodstuff Joint Stock Company (ANTESCO) Ownership structure Company Profiling Products and Services Financial highlights Section 2: Segment Analysis Processed Fruit & Vegetables Source: Reported FS Competitive Landscape This content is intentionally removed for demo purpose
  92. 92. 92 Contents Section 3: Macroeconomics & Regulatory Framework 3.1 Macroeconomics 3.2 Regulatory Framework
  93. 93. 93 0% 5% 10% 15% 20% 25% 30% Q1/05 Q2/05 Q3/05 Q4/05 Q1/06 Q2/06 Q3/06 Q4/06 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 GDP Growth CPI Section 3: Macroeconomics & Regulatory Framework Macroeconomics Vietnamese economy to slow down after a strong year Figure 71: Vietnam’s GDP growth (q-o-q) and CPI over the last 11 year Source: StoxPlus, GSO GDP Growth 1H2016 ↑ 5.55% CPI 1H2016 ↑ 2.35% Well performed Struggled Restructured & recovered This content is intentionally removed for demo purpose
  94. 94. 94 No. Country No. of projects US$mn 1 South Korea 2 Japan 3 Singapore 4 Taiwan 5 Hong Kong 6 China 7 BritishVirginIslands 8 Malaysia 9 Cayman Islands 10 Other TOTAL Section 3: Macroeconomics & Regulatory Framework Macroeconomics Foreign direct investment (“FDI”) to climb up in 1H2016 Figure 72: Registered and disbursed FDI in Vietnam, 2015-1H2016 Source: StoxPlus, MPI Registered 1H2016 US$11.3bn (↑105%) Disbursed 1H2016 US$7.3bn (↑15%) Figure 73: Registered FDI into Vietnam, 1H2016 Source: StoxPlus, MPI This content is intentionally removed for demo purpose
  95. 95. 95 Section 3: Macroeconomics & Regulatory Framework Macroeconomics Figure 74: FMCG growth 2015 vs. 2014 Source: StoxPlus, Nielsen Figure 75: Value contribution by categories Source: StoxPlus, Nielsen Q4 2015 +/- vs Q3 2015 VIETNAM + INDONESIA + THAILAND + PHILIPPINES - MALAYSIA - TAIWAN + HONG KONG - SINGAPORE - CHINA - FMCG: Vietnam’s volume growth 2015 vs. 2014 is only behind Thailand and Philippines This content is intentionally removed for demo purpose
  96. 96. 96 Contents Section 3: Macroeconomics & Regulatory Framework 3.1 Macroeconomics 3.2 Regulatory Framework
  97. 97. 97 Section 3: Macroeconomics & Regulatory Framework Regulatory Framework The government has set clear goals for segments within the food processing industry This content is intentionally removed for demo purpose
  98. 98. 98 Section 3: Macroeconomics & Regulatory Framework Regulatory Framework The government has set clear goals for segments within the food processing industry (cont.) This content is intentionally removed for demo purpose
  99. 99. 99 Section 3: Macroeconomics & Regulatory Framework Regulatory Framework Hygiene and Food safety is becoming a main focus of regulation This content is intentionally removed for demo purpose
  100. 100. 100 Section 3: Macroeconomics & Regulatory Framework Regulatory Framework Hygiene and Food safety is becoming a main focus of regulation (cont.) This content is intentionally removed for demo purpose
  101. 101. 101 This page is intentionally left blank Publishing License No. 2651 – 2016/CXBIPH/95 -47/HĐ dated on August 13th, 2016
  102. 102. ‹#› Contact us at StoxPlus Lan Nguyen Managing Director +84 (0) 43562 69 62 (ext. 109) +84 (0) 964 946 760 lan.nguyen@stoxplus.com Hoang Le Associate Research Manager +84 (0) 43562 69 62 (ext. 109) +84 (0) 985 152 028 hoang.le@stoxplus.com Head Office 5th Floor, Anh Minh Building 36 Hoang Cau Street Hanoi, Vietnam + 84 (4) 3562 6962 Ho Chi Minh City Branch 2nd Floor, May Plaza 63D Vo Van Tan Street, District 3 Ho Chi Minh City, Vietnam +84 (8) 3823 3485

×