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B&Company Vietnam
2014, Jannuary
Report on
Vietnam Chocolate Confectionery
Copyrights
This report and all materials directly related to it are properties of B&Company. All
rights reserved. No parts...
COPYRIGHT B&Company INC. ALL-RIGHTS RESERVED.
3
Market Overview
Retail sales value and volume registered stable growth rat...
COPYRIGHT B&Company INC. ALL-RIGHTS RESERVED.
4
Market Overview
Vietnam exports only a small quantity of chocolate due to ...
Chocolate Confectionery Classification
Despite the domination of Boxed Assortments, Bagged Selflines/Softlines volume sale...
Chocolate Confectionery Retail Market Share
Belcholat, a FDI local specialist, is leading in retail market which presents ...
Source: Online newspaper, company websites,
1: Bibica estimation, 2011
Competitive landscape
 Puratos - Grand Place
 Bel...
Most consumed Chocolate Confectionery brands
Top 10 most – consumed Chocolate Confectionery products mostly belongs to for...
Brand positioning
High price
Low price
Snack Indulgence
Potential of Chocolate Confectionery in Vietnam
There are still rooms for foreign investors of chocolate confectionery in ...
Chocolate classification definition
Boxed Assortments:
• Includes assortments which may be budget or premium priced, and a...
Thank you!
Tokyo Hanoi Ho Chi Minh
Name B&Company, Inc. B&Company Vietnam Co., Ltd.
Contact
person
Sugiyama (Mr.) Van Nguy...
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[B&company] Vietnam Chocolate Confectionery Market Overview

Market briefing on Vietnam Chocolate Confectionery

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[B&company] Vietnam Chocolate Confectionery Market Overview

  1. 1. B&Company Vietnam 2014, Jannuary Report on Vietnam Chocolate Confectionery
  2. 2. Copyrights This report and all materials directly related to it are properties of B&Company. All rights reserved. No parts of this report may be reproduced or transmitted in any form or by any means without the prior written permission. Should you wish to use this report for any purposes, please kindly contact B&Company through the following given email address for further reference about the terms of use: info@b-company.jp COPYRIGHT B&Company INC. ALL-RIGHTS RESERVED.
  3. 3. COPYRIGHT B&Company INC. ALL-RIGHTS RESERVED. 3 Market Overview Retail sales value and volume registered stable growth rate of more than 13% and 6% over the last few years. 36.3 43.3 51.1 53.5 56.0 58.6 61.1 63.6 2010 2011 2012 2013e 2014f 2015f 2016f 2017f Unit: Million USD* 3.1 3.2 3.4 3.7 3.9 4.2 4.4 4.7 2010 2011 2012 2013e 2014f 2015f 2016f 2017f Chocolate Confectionery’s retail volume sales *: fixed 2013 exchange rates e/f: estimate/forecast Source: Euromonitor International, Vietnam Chocolate Confectionery Report, 2013 Unit: thousand tonnes Retail market Chocolate Confectionery’s retail value sales
  4. 4. COPYRIGHT B&Company INC. ALL-RIGHTS RESERVED. 4 Market Overview Vietnam exports only a small quantity of chocolate due to small capability of production and non-recognized Vietnamese brands in the world Chocolate Confectionery’s export value Source: International trade center, 2013 1.3 2.1 2.9 4.5 7.7 9.7 9.2 10.7 15.4 21.8 2008 2009 2010 2011 2012 Unit: Million USD Export-import value Export Import
  5. 5. Chocolate Confectionery Classification Despite the domination of Boxed Assortments, Bagged Selflines/Softlines volume sales is having high growth rates of over 9% and will become new trend in the years to come. 52.0 52.3 52.7 27.9 27.2 26.4 15.8 16.4 16.9 4.2 4.1 4.0 2010 2011 2012 100% = 3051 3241 3445 Unit: tones Chocolate Confectionery of all types Sales Source: Euromonitor International, Vietnam Chocolate Confectionery Report, 2013 5 Tablets Boxed Assortments Bagged Selflines/ Softlines Countlines
  6. 6. Chocolate Confectionery Retail Market Share Belcholat, a FDI local specialist, is leading in retail market which presents 12.3% of retail value meanwhile Storck KG, Mars and Guylian NV, not too far behind Belcholat are 3 strongest foreign companies Retail market share in value sales- 2012 100% = 51.1 Unit: US$ million Source: Euromonitor International, Vietnam Chocolate Confectionery Report, 2013 Mars Storck KG 12.3 10.7 10.1 9.7 7.96.2 4.7 4.3 34.1 Belcholat Others Guylian NV Maestrani Schweizer Schokoladen AG Hershey Maestro Godiva No. Company Most consumed brands 1 Belcholat Belcholat (Tablets) 2 Storck KG Merci (Tablets), Toffifee (Boxed Assortments) 3 Mars M&M’s (Bagged softlines/Selflines) 4 Chocolaterie Guylian NV Guylian NV ( Boxed Assortments, Tablets) 5 Maestrani Schweizer Schokoladen AG Munz (Bagged softlines/Selflines, Tablets) 6 Hershey Van Houten (Bagged softlines/Selflines) 7 Maestro Swiss Chocolate Vochelle (Boxed Assortments) 8 Godiva Godiva (Boxed Assortments)
  7. 7. Source: Online newspaper, company websites, 1: Bibica estimation, 2011 Competitive landscape  Puratos - Grand Place  Belcholat  Kim Linh Trading & Import  Royal Foods Co., Ltd  Chocolate Graphics  D’art Chocolate  Boniva  Kinh Do  Bibica Importer FDI chocolate specialist Local confectionery manufacturer Local chocolate specialist Customer segments Key characteristics Main players  Middle – high end consumers  High-end HORECA clients  Mass corporate clients  Sophisticated consumers  High-end HORECA** clients  Mass consumers  Middle – high end consumers  Mass corporate clients  Mostly small importers  Large distribution network  Price: $3-$35/100 grams  Big market share across local players  Both import and manufacture chocolate  Small market share across local players  Influence much by season factor  Price: $1-$7/100 grams (2011)  Wide range of chocolate flavored confectioneries  Few famous chocolate brands  Price: $1-$7/100 grams (2011) **: Hotel, Restaurant and Cafeteria Foreign chocolate imported through Vietnamese importers account for 60% of volume sales annually, providing premium products, while local chocolate are relatively cheap and mostly are not famous brands.
  8. 8. Most consumed Chocolate Confectionery brands Top 10 most – consumed Chocolate Confectionery products mostly belongs to foreign specialists Top 10 most - consumed chocolate confectionery products in retail value sales-2012 2.1 3.8 4.3 4.7 6.2 6.3 7.8 7.9 9.7 11.1 Toffifee Bella Godiva Vochelle Van Houten M&M's Merci Munz Guylian Belcholat Source: Euromonitor International, Vietnam Chocolate Confectionery Report, 2013 Unit: % 100%= US$ 51.1 million
  9. 9. Brand positioning High price Low price Snack Indulgence
  10. 10. Potential of Chocolate Confectionery in Vietnam There are still rooms for foreign investors of chocolate confectionery in Vietnam but they must be aware of Vietnamese shopping behaviors Competition • More international investors will invest in Vietnam, directly competing with the local manufacturers. • Puratos-Grand Place plan: to build a new manufacturing plant with supporting logistic infrastructure in Bac Ninh to expand the market to the North, producing ice-cream and decoration chocolate in 2013. • Mars has set up a cocoa development center in Cu Hue commune of Ea Kar district in Dak Lak province • Japan’s Lotte acquired Guylian, a Belgian chocolate company in 2008 which has brand in top most consumed chocolate in 2012 • Several cake and candy manufacturers keep diversifying to produce chocolate products like Bibica (Choco bella), Kinh Do (Koko Choco). Products • Bagged selflines/softlines volume sales is expected to register the fastest growth rate. The development will strongly link to the growing habit of consuming chocolate as a daily snack, particularly among young consumers. Customer behaviors • Under 40 age of Vietnamese, accounting for nearly 70% of the population tends to buy chocolate. • Vietnamese look for the designs which reflects premium and elegant when they purchase chocolate. • Vietnamese prefer foreign brands to local ones and they prefer to buy these products through modern distribution channels to guarantee their quality. Source: Press search
  11. 11. Chocolate classification definition Boxed Assortments: • Includes assortments which may be budget or premium priced, and are typically adult- orientated rather than being intended for children. Popular formats include picture boxes, liqueurs, pralines and bouchées. Also includes selflines where the chocolates contained t herein are identical. Tablet: • Moulded and segmented chocolate bars in a wide range of sizes ranging from bite- size to family bars. Some are filled with nuts and/or raisins and made of different types of chocolate (e.g., white, milk and dark). Others are simply plain. Bagged selfline/Softline: • These bagged products include either chocolate or sugar coated items with a solid centre that is usually chocolate or nut-based. In some cases, it may include other types of centre (e.g,. Honeycomb). This also includes all other selflines, many of which have liquid/soft ce nters, such as cream or caramel Countlines: • Chocolate bars eaten as snacks. Many are filled and unsegmented (e.g., not precut into s maller pieces/segments). Typical examples include Snickers and Mars. Countlines can be s old in a diversity of formats, including multipacks or mini-fun sizes that are not twist- wrapped and not sold in boxes
  12. 12. Thank you! Tokyo Hanoi Ho Chi Minh Name B&Company, Inc. B&Company Vietnam Co., Ltd. Contact person Sugiyama (Mr.) Van Nguyen (Ms.) Phuong Bui (Ms.) Address 3F, Kinshichou Sunrise Building, 2-14-7, Kotobashi, Sumida-ku, Tokyo, Japan 〒130-0022 3F, TH Building, 1 Do Hanh Str., Hai Ba Trung Dist., Hanoi. 2F, Indochina Building, 4 Nguyen Dinh Chieu Str., Dist. 1, Ho Chi Minh city. Telephone 03-3846-2680 (84)-4-3978-5165 (84)-8-3910-3913 URL http://b-company.jp Email info@b-company.jp Contact us:

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