VIETNAM FROZEN FOOD MARKET

Vietnam Frozen Food Market is projected to grow at a CAGR of 7.5% during the forecast period owing to the rapid urbanization, increasing need for easy and quick meal solutions, the rise of e-commerce, and the expansion of online grocery services.

Major Vietnam Frozen Food Market Drivers and Trends

The rising demand for quick and convenient meal options that eliminate the need for extensive preparation and cooking is significantly boosting the Vietnam frozen food market size. The hectic nature of urban life, including extended working hours and busy routines, prompts consumers to choose readily available frozen meals that require minimal preparation. In cities where both household members are usually working, quick and easy meal solutions are increasingly important. Frozen foods serve as a practical substitute for traditional cooking which makes meal preparation more effortless and less time-consuming. The trend towards smaller family households in urban environments is also boosting the portion-controlled frozen foods popularity as these options help cut down on food wastage.

The other factor supporting the expansion of Vietnam frozen food market forecast is the increase in diverse frozen food offerings particularly healthier and higher-quality options which captures the attention of consumers focused on maintaining a nutritious diet while enjoying convenience. In addition, ongoing improvements in packaging technologies that enhance quality are providing a promising outlook in the market. The emergence of e-commerce and online grocery delivery services are further enhancing consumer convenience by providing easier access to a broader range of items with home delivery options.

 To meet the expanding needs of consumers, industry players are investing in refining their supply chains, implementing services such as expedited doorstep delivery and special discounts to draw in more customers. Innovations in packaging materials that protect the quality and extend the frozen foods shelf life are expected to significantly boost the growth of the Vietnam frozen food market in the coming years. In response to shifting consumer preferences, major players in the market are also adopting green initiatives such as responsible ingredient sourcing and cutting down on packaging waste. Another important area of focus is minimizing food miles and lowering carbon emissions by localizing the manufacturing and distribution processes. In addition, as more people adopt vegan lifestyle, plant-based frozen foods are popular due to the rising interest in ethical food choices.

However, the market faces a challenge including the lack of proper cold supply chain infrastructure. Proper temperature regulation from manufacturing through to point of sale is vital for preserving the products integrity. Unfortunately, the cold chain infrastructure in the country is still growing and facing several issues including lack of proper refrigerated storage and limited access to rural locations.

 The market segmentation by product type includes frozen meat, ready meals, among others. The market is dominated by the frozen meat which reflects the high levels of meat consumption in Vietnam. The ready meals category also holds a significant market share due to its long shelf life.

By distribution channel, the rise of online retail has significantly impacted the market which alters consumer habits in accessing and purchasing products. The shift towards online sales has been influenced by factors including improved convenience and the availability of home delivery options.

Top market Players:

Various notable players operating in the market include CP Vietnam Livestock Joint Stock Company, Vinh Hoan Corporation, among others. To increase their market footprint, these companies adopt strategies including acquisitions and mergers, strategic partnerships, and rolling out new product lines.

Segments covered in the Report:

The Vietnam Frozen Food Market segmented on the basis of product, type, consumption, and distribution channel. Based on the product, the market is segmented into fruits & vegetables, dairy, bakery, meat & seafood, convenience food & ready meals, and others. Based on the type, the market is segmented into raw material, half cooked, and ready-to-eat. Based on consumption, the market is segmented into food service and retail. Based on the distribution channel, the market is segmented into offline and online.

Report Coverage	Details
Market Revenues (2023)	USD Million
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product, By Type, By Consumption, By Distribution Channel
Regional Coverage	Vietnam
Companies Profiled	CP Vietnam Livestock Joint Stock Company, Vinh Hoan Corporation, among others; a total of 2 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Vietnam Frozen Food Market by Product

• • Fruits & Vegetables
  • Frozen Fruits
  • Frozen Vegetables
  • Frozen Potatoes
  • Other Vegetables
  • Dairy Products
  • Bakery Products
  • Bread & Pizza Crusts
  • Others Bakery Products
  • Meat & Sea Foods
  • Convenience Food & Ready Meals
  • Others

Vietnam Frozen Food Market by Type

• • Raw Material
  • Half Cooked
  • Ready-to-Eat

Vietnam Frozen Food Market by Consumption

• • Food Service
  • Retail

Vietnam Frozen Food Market by Distribution Channel

• • Offline
  • Online

Vietnam Frozen Food Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • CP Vietnam Livestock Joint Stock Company
  • Vinh Hoan Corporation