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MARKET TRENDS IN VIETNAM: CONFECTIONERY
KEY TRENDS
DPO INTERNATIONAL MARKET OVERVIEW & KEY TRENDS 7.81bn Vietnam Confectionery Market (US$) 2022 2027 • Chocolate products • Sugar confectionery • Cookies • Ice Cream + IN-SCOPE ► Volume is expected to amount to 1,583.1mkg by 2027 & is expected to show a volume growth of 5.8% in 2023. ► In relation to total population figures, per person revenues of US$78.97 are generated in 2022, the average volume per person is expected to amount to 11.0kg in 2022. PROSPECTS AND OPPORTUNITIES Source: Statista, 2022 HEALTHIER SWEETS FUNCTIONAL CHEWING GUM TRADITIONAL TYPES OF SUGAR CONFECTIONERY GIFT BOX / LARGER PACK SIZED Most recent update: Feb 2022 13.45bn
DPO INTERNATIONAL HEALTHIER SWEETS Recent years have seen the population of Vietnam become increasingly health- conscious, and this has been reflected in a strong acceleration of the health and wellness trend across packaged food. KEY TRENDS & MARKET EXAMPLES 19% 13% 10% 11% 12% 12% 11% 6% 7% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% Health Taste Fragrance Expiry Date Price Brand Country of Origin Packaging Others Purchasing drivers for Confectionery Products in Vietnam Deloitte’s Vietnam Consumer Survey, 2020 Source: Euromonitor International, 2021a ► While this situation has placed pressure on demand for sugar confectionery generally, it has also motivated the category’s leading players to increasingly focus on products that can be promoted as healthier options than what is on offer from rival brands. Doublemint Chewy Candy Stick- Sugar Free Peppermint • Mouth and Breath Freshener Candy with Peppermint Flavour. • Sugar Free. • Long Lasting Fresh and Cool in Mouth and Soothing in Throat. • Product of Thailand Ingredients: Sorbitol, Flavorings, Magnesium Stearate, Sucralose, Acesulfame Potassium, Brilliant Blue Source: Deloitte, 2021