Vietnam Frozen food market is expected to reach USD2291.28 million by 2026F, growing at a CAGR of 7.26% during the forecast period. https://bit.ly/3rDYu9o

1. MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
VIETNAM FROZEN FOOD MARKET
FORECAST & OPPORTUNITIES
2016 – 2026

2. © TechSci Research 2
S. No. Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Influencing Purchase Decisions
4.2. Challenges Faced Post Purchasing
5. Vietnam Frozen Food Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1.
By Category (Ready-to-Eat, Ready-to-Cook & Others (Raw Meat, Raw Vegetables, Raw
Fruit, etc))
5.2.2.
By Product Type (Frozen Meat, Poultry, & Seafood, Frozen Snacks, Frozen Fruits &
Vegetables & Others (Frozen Desserts, Frozen Cooked Ready Meals, etc.))
5.2.3.
By Distribution Channel (Departmental Stores, Speciality Stores,
Supermarket/Hypermarket, Online & Others (Convenience Stores, Direct Sales, etc.))
5.2.4. By Region
5.2.5. By Company (2020)
5.3. Market Map (By Product Type and By Region)
6. Vietnam Frozen Meat, Poultry, & Seafood Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
Table of Contents

3. © TechSci Research 3
S. No. Contents
6.2.1. By Product Type
6.2.2. By Distribution Channel
7. Vietnam Frozen Snacks Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By Distribution Channel
8. Vietnam Frozen Fruits & Vegetables Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By Distribution Channel
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends and Developments
11. Export Analysis
12. Impact of COVID-19 on Vietnam Frozen Food Market
Table of Contents

4. © TechSci Research 4
S. No. Contents
13. Policy and Regulatory Landscape
14. Vietnam Economic Profile
15. Competitive Landscape
15.1. CP Vietnam Livestock Joint Stock Company
15.2. MINH PHU SEAFOOD CORP.
15.3. SAO TA FOODS JOINT STOCK COMPANY
15.4. VINH HOAN CORPORATION
15.5. GreenFeed Vietnam Corp.
15.6. DAI PHAT FOOD TRADING SERVICE CO., LTD
15.7. KIDO FOODS JOINT STOCK COMPANY
15.8. Viet Asia Foods Company Limited
15.9. CK Frozen Foods Vietnam Company Ltd.
15.10. DALAT - JAPAN FOOD CO., LTD.
15.11. L&H FOOD CO., LTD.
15.12. San Ha Co., Ltd.
16. Strategic Recommendations
17. About Us & Disclaimer
Table of Contents

5. 5
© TechSci Research
List of Figures
Figure No. Title
Figure 1: Vietnam Frozen Food Market Size, By Value (USD Million), 2016-2026F
Figure 2: Vietnam GDP at Current Price in USD Billion (2015-2019)
Figure 3: Vietnam Urban Population as a Percentage (%) of Total Population (2015-2019)
Figure 4: Vietnam Frozen Food Market Share, By Category, By Value, 2016-2026F
Figure 5: Vietnam Frozen Food Market Share, By Product Type, By Value, 2016-2026F
Figure 6: Vietnam Frozen Food Market Share, By Distribution Channel, By Value, 2016-2026F
Figure 7: Vietnam Frozen Food Share, By Region, By Value, 2016-2026F
Figure 8: Vietnam Frozen Food Market Share, By Company, By Value, 2020
Figure 9:
Vietnam Frozen Food Market Map, By Product Type, Market Size (USD Million) & Growth Rate (%),
2020
Figure 10: Vietnam Frozen Food Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2020
Figure 11: Vietnam Frozen Meat, Poultry, & Seafood Market Size, By Value (USD Million), 2016-2026F
Figure 12: Vietnam Meat Consumption by Type, 2020
Figure 13: Vietnam Frozen Meat, Poultry, & Seafood Market Share, By Product Type, By Value, 2016-2026F
Figure 14:
Vietnam Frozen Meat, Poultry, & Seafood Market Share, By Distribution Channel, By Value, 2016-
2026F
Figure 15: Vietnam Frozen Snacks Market Size, By Value (USD Million), 2016-2026F
Figure 16: Vietnam Major Frozen Snacks Suppliers and Their Offerings
Figure 17: Vietnam Frozen Snacks Market Share, By Product Type, By Value, 2016-2026F
Figure 18: Vietnam Frozen Snacks Market Share, By Distribution Channel, By Value, 2016-2026F
Figure 19: Vietnam Frozen Fruits & Vegetables Market Size, By Value (USD Million), 2016-2026F
Figure 20: Vietnam Exports of Fruits & Vegetables 2017-2020 (USD Billion)

6. 6
© TechSci Research
List of Figures
Figure No. Title
Figure 21: Vietnam Frozen Fruits & Vegetables Market Share, By Product Type, By Value, 2016-2026F
Figure 22: Vietnam Frozen Fruits & Vegetables Market Share, By Distribution Channel, By Value, 2016-2026F
Figure 23: Vietnam Frozen Fish Exports, By Value (USD Million), 2016-2019
Figure 24: Vietnam Frozen Fish Exports Share (%), By Top 5 Countries, 2019
Figure 25: Vietnam Frozen Meat of Bovine (Beef) Animals Exports, By Value (USD Million), 2016-2019
Figure 26: Vietnam Frozen Meat of Bovine (Beef) Animals Exports Share (%), By Top 4 Countries, 2019
Figure 27: Vietnam Frozen Meat of Swine Exports, By Value (USD Million), 2016-2019
Figure 28: Vietnam Frozen Meat of Swine Exports Share (%), By Top 5 Countries, 2019
Figure 29: Vietnam Frozen Snacks Exports, By Value (USD Million), 2016-2019
Figure 30: Vietnam Frozen Snacks Exports Share (%), By Top 5 Countries, 2019

7. ProductOverview

8. © TechSci Research 8
Scope of Report
Product of Interest (POI): Frozen Food
Review Period
2016 – 2019
Base Year
2020
Estimated Year
2021
Forecast Period
2022 – 2026
Year Range
Frozen food falls under the convenience food category, where preparation time for the food is
extremely short. Convenience is the major factor associated with ready-to-eat food products, bringing
significant time savings for consumers. Frozen food meets specific requirements such as convenience,
nutritional adequacy, shelf stability, and storage. Post the introduction of retorting technology, sales of
frozen food products have increased due to their superior packaging, taste and flavors.
Market Segmentation
BY REGION
Vietnam Frozen Food Market
BY PRODUCT TYPE
• Frozen Fruits & Vegetables
• Frozen Meat, Poultry, &
Seafood
• Frozen Snacks
• Others
BY CATEGORY
BY DISTRIBUTION CHANNEL
• Supermarkets/Hypermarkets
• Departmental Stores
• Specialty Stores
• Online
• Others
• Northern
• Southern
• Central
• Ready-to-Eat
• Ready-to-Cook
• Others

9. ResearchMethodology

10. © TechSci Research 10
Research Methodology
✓ Identifying Key Opinion
Leaders
✓ Questionnaire Design
✓ In-depth Interviews
Data
Collection
Developing List
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players in
the Vietnam frozen food
market, overall market size
and segmental market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the Vietnam frozen food
market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing
Aspects/Dynamics
✓ Government Policies
✓ Conclusion
✓ Market Participants
✓ Key Strengths
✓ LinkedIn
✓ TechSci Internal
Database
✓ Factiva
✓ Hoovers
Paid Sources
✓ Company Websites
✓ Company Annual
Reports
✓ White Paper Study
✓ Financial Reports
✓ Investor
Presentations
✓ Regulatory Body
✓ Associations, etc.
Secondary
Research
Primary Research

11. © TechSci Research 11
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Vietnam frozen food market. The team has
analyzed the outlook of various segments of this market, while considering the major influencing factors such increase in working
women population and increasing craze for ready to eat dishes in the country. The study includes market forecasting, which would
enable our clients to take better decisions while planning their strategy to achieve sustainability in Vietnam frozen food market.
Methodology Followed for Calculation of Market Size:
• Market Size By Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as frozen food
companies, channel partners, end users, industry experts, and other industry participants.
• The team interviewed more than 20– 25 frozen food companies, 200 end users, and 10–15 industry experts and other value chain
stakeholders in the Vietnam frozen food market to obtain the overall market size from 2016 to 2020, which was validated by the
Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data
during 2016-2020.

12. © TechSci Research 12
Research Methodology
• Respondents were asked about the current and future market growth rates, market shares by category, by product types, by
distribution channel, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and
supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue
shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
• Market shares by category, by product type, by distribution channel, by region and by company were calculated based on the
responses received through primary surveys with industry experts, in which the respondents were asked about the market shares
or revenue generated from various segments of frozen food market. The final shares were calculated by taking the geometric mean
of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey
results in SPSS/Tableau Software.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast
Vietnam frozen food market, TechSci Research used various forecast techniques such as:
✓ Moving Average
✓ Time Series Analysis
✓ Regression Analysis
✓ Econometric and Judgmental Analysis

13. © TechSci Research 13
Partial List of Companies Interviewed Key Secondary Sources
▪ DAI PHAT FOOD TRADING SERVICE CO., LTD
▪ KIDO FOODS JOINT STOCK COMPANY
▪ Viet Asia Foods Company Limited
▪ GreenFeed Vietnam Corp.
▪ CK Frozen Foods Vietnam Company Ltd
▪ DALAT - JAPAN FOOD CO., LTD
▪ L&H FOOD CO., LTD
▪ San Ha Co., Ltd
▪ CP Vietnam Livestock Joint Stock Company
▪ VINH HOAN CORPORATION
▪ SAO TA FOODS JOINT STOCK COMPANY
▪ MINH PHU SEAFOOD CORP.
▪ World Bank
▪ TechSci Research Proprietary Database & Knowledge
Repository
▪ Company Annual Reports
▪ Industry Magazines
▪ Industry Reports
▪ Statista
▪ News Dailies
▪ Credible Paid Databases
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci
Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate
market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

14. © TechSci Research 14
Industry Brief
According to TechSci Research report, “Vietnam Frozen Food Market By Category, ((Ready-to-Eat, Ready-to-Cook & Others (Raw Meat, Raw Vegetables, Raw Fruit, etc)), By
Product Type (Frozen Meat, Poultry, & Seafood, Frozen Snacks, Frozen Fruits & Vegetables & Others (Frozen Desserts, Frozen Cooked Ready Meals, etc.)), By Distribution
Channel (Departmental Stores, Specialty Stores, Supermarket/Hypermarket, Online & Others (Convenience Stores, Direct Sales, etc.)), By Region, Competition, Forecast
Opportunities, 2026F”, the Vietnam frozen food market is expected to reach USD2291.28 billion by 2026F with a CAGR of 7.26% during forecast period. During the forecast
period, sales of frozen food are expected to increase due to changing consumer perception, rising disposable income, rising GDP growth rate, and rising sales through E-
commerce platform around the country. Food products in Vietnam are primarily regulated and managed by three ministries: the Ministry of Health (“MOH”), the Ministry of
Agriculture and Rural Development (“MARD”), and the Ministry of Industry and Trade (“MOIT”). Each of the three ministries are in charge of a different product category. The
Ministry of Health is in charge of pre-packaged and processed food products such as bottled water, mineral water, functional food, and nutraceuticals. Cereals, meat and meat
products, aquatic products, vegetables, fruits, eggs and egg products, fresh milk, bee's honey, honey products, genetically modified foods, salt, and agricultural foods are all
covered by the MARD. And the MOIT is in charge of alcohol, beer, beverages, processed milk, vegetable oil, products used as raw materials for powder, starch, and other
products.
The COVID-19 pandemic also had an impact on Vietnam's food processing industry, which was hampered by rules on social distancing, labor shortages, and lockdown
measures to curtail the spread of the virus. It was necessary to maintain social distance in confined spaces such as packaging plants for frozen fruits and vegetables or meat
processing facilities, which resulted in lower operational efficiency and less frozen food production in Vietnam.
The Vietnam frozen food market is segmented into by category, by product type, by distribution channel, by region and by company. In terms of category, the market can be
segregated into Ready-to-Eat, Ready-to-Cook & Others (Raw Meat, Raw Vegetables, Raw Fruit, etc). Out of these, Ready-to-Eat market had registered highest market share of
more than 25% in 2020 among all other categories, whereas Ready-to-Cook is the fastest growing category in the country’s frozen food market on account of increasing middle
class population and rising income and people becoming busier and ready to pay more for convenience. Moreover, people prefer ready to cook frozen food as it saves time,
energy, and money. In addition to this, increasing standard of living due to rise in income level, influence of western countries, more global trade, travelling, etc. has led to a shift
in people’s preference, who are preferring ready to cook frozen food over home cooked food. Also, due to establishment of various multi-national companies in Vietnam and
increasing number of working women, there has been a change in the cooking habits as they don’t’ get enough time to prepare food at home. This has also increased the
demand for ready to cook frozen foods in Vietnam.
In terms of product type, the Vietnam frozen food market is segmented into frozen meat, poultry, & seafood, frozen snacks, frozen fruits & vegetables & others (frozen desserts,
frozen cooked ready meals, etc.). Among these, the Frozen Meat, Poultry & Seafood product type market has dominated the Vietnam frozen food market with a majority of
market share as out of total only 10% Vietnam’s population regularly eats vegetarian meals. The frozen snacks segment is the fastest growing product type in the country’s
frozen food market.
In terms of regional analysis, the Vietnam frozen food market is segment into Northern, Southern and Central. Among these, Northern region dominated the Vietnam frozen food
market followed by Southern region in 2020 on account of rising disposable income and improved standard of living and the rising demand for good quality frozen food by
Vietnamese consumers. This region is the most important center of economic activity in Vietnam as it contributed to 40% of country’s GDP and accounted for 42% of the
country’s total Foreign Direct Investment stock in 2020.
In terms of company, major players operating in Vietnam frozen food market include CP Vietnam Livestock Joint Stock Company, MINH PHU SEAFOOD CORP., SAO TA
FOODS JOINT STOCK COMPANY, VINH HOAN CORPORATION, GreenFeed Vietnam Corp., KIDO FOODS JOINT STOCK COMPANY, Viet Asia Foods Company Limited,
CK Frozen Foods Vietnam Company Ltd, DALAT - JAPAN FOOD CO., LTD, and others. Among which CP Vietnam Livestock Joint Stock Company accounted for the majority of
market share in 2020 in the Vietnam frozen food market. Leading players are focusing on expanding their product portfolios to maintain sustainable growth in the market. The
companies are also expanding their distribution reach across various countries and are increasing the distribution of frozen food in the market across the country.
“Vietnam frozen food market is anticipated to register healthy growth during forecast period. Development in cold storage, enhancement of food quality using irradiation, shift
towards smarter cold chains, changing lifestyle and preferences and innovation in packaging are some of the market trends which are booming the Vietnam frozen food market”.
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

15. © TechSci Research 15
Sample Data - Snapshot
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Value (USD Million)
Vietnam Frozen Food Market Size, By Value (USD Million), 2016-2026F
CAGR 2016-2020
By Value: xx%
CAGR 2021E-2026F
By Value: xx%
Vietnam Frozen Snacks Market Share, By Product Type, By Value, 2016-2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Frozen Dumplings 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Frozen Nuggets 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Frozen Springrolls 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Others 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Vietnam Frozen Fruits & Vegetables Market Share, By Distribution Channel, By Value, 2016-2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Departmental Store 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
Supermarkets/Hypermarkets 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Online 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Speciality Store 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Others 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%

16. © TechSci Research 16
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FORECAST & OPPORTUNITIES
2016 – 2026
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number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The
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model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
evaluation of the opportunities available in the market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers
reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or
omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this
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