At the rate yogurt is gaining popularity in Vietnam, it soon may be the preferred currency in the black market.
According to VietnamNet, the Vietnamese yogurt market is expected to reach VND12.4 trillion in 2013, up from VND5.7 trillion in 2012. This two-fold increase has made yogurt the rising star of the Vietnamese dairy industry.
Vinamilk, citing their own numbers, claims to hold a 90% share of the market, a figure disputed by people outside the company. But according to Nguyen Trong Tan, Director of Landtabrand, a branding consultancy firm, Vinamilk’s claims are legit, accurately reflecting the current market and the company’s massive distribution network. It probably doesn’t hurt that Vinamilk has an exclusive deal to provide yogurt to many schools as reported in Doanh Nhan Saigon newspaper.
Since the market is ripe, many other companies, both local and international are taking steps to enter the yogurt biz. Kido (part of Kinh Do Group) has bought stakes of Nutifood and Tribeco to secure production facilities and to take advantage of the company’s 100,000 existing retail locations.
Since it will take years for the competitors to catch up, Vinamilk will continue to dominate the market. But whatever, Dutch Lady is still better, right?
With gold sales slumping, you might want to think about investing in some cool, creamy yogurt.
