Vietnam

According to The Investors, Vietnam’s retail sales of goods and services expanded 19.8% in 2022 to almost US$240 billion. The value is 15% higher than that in pre-pandemic 2019, according to the General Statistics Office. Sales in December rose 17.1% from a year earlier. Localities enjoying stronger growth rates in revenue include Ho Chi Minh City (26.4%), Danang (14.7%), Can Tho (14.2%), Dong Nai (13.7%), Quang Ninh (12.1%), Hanoi (12%), and Hai Phong (10.4%).

 

Post reports the Vietnam retail food sector experienced unprecedented disruptions in 2021 due to COVID-19. Strict measures to control the disease, combined with consumer fears, severely struck Vietnam’s retail food channels, especially wet markets and individual grocers. Vietnam’s retail sales totaled approximately $172 billion, marginally up 0.2% over 2020, according to GSO. E-commerce surged in importance with sales at approximately US$13 billion, up 16% over 2020.

 

Best Product Prospects:

Top product prospects include pork meat, fresh produce, poultry, seafood, milk and dairy products, condiments, and sauces.

Food Service SectorBack to top

According to Post, Vietnam’s HRI market continued to be hit hard by the COVID-19 pandemic, resulting in a 21% decline in revenue from US$20.7 billion in 2020 to US$16.3 billion in 2022. Despite the challenges of 2022, exports of U.S. consumer-oriented products to Vietnam still increased by 8%. Post expects the sector to see a strong rebound over the next few years, cementing Vietnam as an attractive export market for U.S. consumer-oriented and agricultural products.

Vietnam remained one of the top 20 largest markets for U.S. exports of consumer-oriented products. The United States continued to be the second largest exporter of consumer-oriented products to Vietnam, with sales of consumer-oriented products to Vietnam rising by 8% from US$928 million in 2020 to over US$1 billion in 2021.

Best Product Prospects: 

Top product prospects include dairy products, tree nuts, soup and other food preparations, poultry meat and products (excluding eggs), fresh fruits, chocolate and cocoa products, and non-alcoholic beverages. These categories accounted for about 88% of the total export value of U.S. consumer-oriented products to Vietnam in 2022.

Food-Processing SectorBack to top

Top Market for U.S. Agriculture Products

 

2.9%
growth of the food manufacturing industry in 2022

Post reports Vietnam's food processing sector was hit by COVID-19 restrictions, but the food processing and manufacturing sector still grew by 2.9% in 2022 versus 2021. The food retail segment grew at 10.6%; however, the food service industry shrunk by 19.3%. Post reports food processors in Vietnam use both locally produced raw materials and imported food ingredients in their operations. Large processors tend to directly import specific ingredients, such as wheat flour, milk powder, and malt. Processors usually purchase minor ingredients, additives, flavors, or preservatives through importers or distributors.

 

Best Product Prospects:

Top product prospects include tree nuts, minced pork, dairy products, other edible bovine products, processed fruits, peanuts, wheat, soybeans, and potatoes.

$55.00

 

Global Trade International is a Export Import Company

 Street : Detroit, Michigan USA

 Email : sales@globaltradeintl.net

 Phone : +313 675-8713

Search