This document provides a summary of Vietnam's FMCG market in Q1 2022. Key points include: - GDP growth was stable at 0.3% while inflation was under 2%, but challenges are expected in coming months. - Consumer demand for home FMCG remained low as volume consumption decreased, but price increases drove overall market growth. - Modern sauces like ketchup and mayonnaise saw volume gains. - 22% of FMCG spending in major cities occurred through emerging channels like online and mini-stores. - Smaller "nuclear" households are becoming more common, impacting purchasing behaviors.

1. An integrated
update of Vietnam
FMCG market
Q1 2022
Urban 4 Key Cities & Rural Vietnam
By Worldpanel Division
FMCG
Monitor
(12 weeks ending 28/03/2022)

2. Executive summary
Macro economy
FMCG overview
Hot category
Retail landscape
Spotlight
GDP in Q1 2022
sustains a stable
growth coupled with
CPI is under 2%.
Consumer demand
for in home FMCG
remains low due to
the cut-down of
volume consumption.
Modern sauces such
as Ketchup, Chili
sauce and
Mayonnaise still
successfully gain
more volume
consumption.
As of Q1 2022, 22% of
FMCG spending has
been made in emerging
channels including
Online, Ministores and
Specialty Stores in
Urban 4 key cities.
Nuclear families is
growing
importance!
2

3. Source: GSO | VnExpress
Despite the uncertain times of COVID-19 and Ukraine-Russia conflict, GDP in Q1 2022 sustains a stable growth coupled with CPI is under 2%.
However, Vietnam's economy is likely to face a new wave of challenges in upcoming months.
Vietnam’s macro economy
GDP CPI
0.3
2.7 2.5
1.9
1.9
7.0
2.9
2.6
5.3
2.8
3.2
1.8
4.5
6.6
-6.2
5.2 5.0
% Change vs the same period last year
3
Source: Vietnamnews
Source: VnExpress

4. 84
42
80
62
74
81
60
65
76
82
Source: Worldpanel Division | Consumer Confidence Survey | Urban Vietnam 4 key cities | MAT Q1’22 | Field work from 21st March to 3rd April
The economic situation will be better or the same as today
in the next 12 months (% households agree in Urban 4 key cities)
Vietnamese confidence in both economic outlook and purchasing power is progressively getting back to the pre-
pandemic level thanks to the well-coping with COVID-19 in recent months.
Consumer perspective
In the upcoming 12 months, do you think that the financial
situation in your house… (% households agree in Urban 4 key cities)
9 7 7 7 7 9 7 9 7 7
44
33
41 40 42 45
38 39 39
45
43
44
45 43 43
43
41 31
46
42
4
16
7 9 8 3
13
18
8 6 Will get much
worse
Will get worse
Will remain the
same
Will slightly
improve
Will strongly
improve
1st COVID
impact
Wave 4 of
COVID
1st COVID
impact
Wave 4 of
COVID
4

5. Currently what do you consider to be the biggest concerns you and your
household is likely to face? (% households agree in Urban 4 key cities)
Source: Kantar | Worldpanel Division | Consumer Confidence Survey | Urban Vietnam 4 key cities | MAT Q1’22 | Field work from 21st March to 3rd April
Consumers’ top
concerns
Affected by the global
political situation,
Vietnamese consumers
worry more about the oil
price, which jumps into
the 2nd biggest concern
in Urban 4 cities during
the 1st quarter of 2022.
The concern about food
prices also increases
compared to the same
period last year.
5
0
10
20
30
40
50
60
70
Q1 2021
Q1 2022

6. In Q1 2022, consumer
demand for in home
FMCG remains low
due to the cut-down
of volume
consumption. The
market growth is
mainly driven by the
increase of average
paid price.
Re-watch our on-
demand webinar to
know more about
how consumers are
reacting to these
price pressures.
FMCG
overview
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities & Rural Vietnam | Total FMCG including Gift | 12 weeks ending 28/03/2022
*: To calculate FMCG volume change, we calculate how much volume contributes to the value change for each category, sum up these contributions and relate to value YA (this results in an average category change in volume)
**: To calculate FMCG price paid change, we calculate how much price contributes to the value change for each category, sum up these contributions and relate to value YA
Urban 4
key cities
% Change vs YA
10.8
-2.7
0.6
Category 1
Q1 2021
Q1 2022
Q1 2020
6
7.0
-3.4-3.5
Category 1
9.5
0.8 3.6
Category 1
6.1
-1.0 -2.1
Category 1
3.6
1.1
4.3
Category 1
3.3 2.1
6.1
Category 1
11
14
8
3
-3
2
9
8
1
-5
0
5
10
15
9
12
8
8
1
4 5 7
4
0
5
10
15
Rural
Value Volume* Avg. paid price** Quarterly value trends
COVID-19’s
1st wave COVID-19’s
4th wave

7. In Q1 2022, almost all
sectors suffer from a
decline in volume
consumption due to a
weaker performance of
Tet shopping season,
according to Tet 2022
report. In line with total
FMCG market, the
increase of paid price is
the key driver across
major sectors.
Sector
performance
% Value change vs YA in Urban 4 key cities
FMCG
Dairy
Beverages
Packaged
Foods
Personal
Care
Home
Care
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Total FMCG including Gift | 12 weeks ending 28/03/2022 7
Value Volume* Avg. paid price**
-3
-4
2
-6
-4
0
0.6
5
-6
6
-3
1
-4
-6
1
-8
-2
3
-3
1
-9
-2
-3
-3
1
3
1
2
-1
-1
4
4
3
8
-1
6
Q1’21
Q1’22
*: To calculate FMCG volume change, we calculate how much volume contributes to the value change for each category, sum up these contributions and relate to value YA (this results in an average category change in volume)
**: To calculate FMCG price paid change, we calculate how much price contributes to the value change for each category, sum up these contributions and relate to value YA

8. The same picture is
witnessed in Rural
Vietnam when average
paid price also drives
market growth.
Dairy shines bright as
the only sector that
achieves positive
performance driven by
volume consumption as
well as price growth.
Sector
performance
% Value change vs YA in Rural
FMCG
Dairy
Beverages
Packaged
Foods
Personal
Care
Home
Care
Source: Worldpanel Division | Households Panel | Rural Vietnam | Total FMCG including Gift | 12 weeks ending 28/03/2022 8
Value Volume* Avg. paid price**
1
-1
-1
2
9
0
3.6
17
-4
5
1
5
-1
-3
-3
-2
10
3
-2
11
-7
-4
-4
-2
2
2
2
4
1
-2
6
5
3
9
8
8
Q1’21
Q1’22
*: To calculate FMCG volume change, we calculate how much volume contributes to the value change for each category, sum up these contributions and relate to value YA (this results in an average category change in volume)
**: To calculate FMCG price paid change, we calculate how much price contributes to the value change for each category, sum up these contributions and relate to value YA

9. Hot
category
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Total FMCG including Gift | 12 weeks ending 28/03/2022 9
Modern sauces performance in Q1 2021 – Urban 4 key cities
% growth vs the same period last year
Value Volume*
+24% +24%
+16% +15%
+13% +6%
Ketchup
Chili
sauce
Mayonnaise
Modern sauces such as
Ketchup, Chili sauce
and Mayonnaise still
successfully gain more
volume consumption in
the 1st three months of
2022, despite the
increase in average
price paid witnessed in
most of categories.

10. As of Q1 2022, 22% of FMCG spending has been made in emerging channels including Online, Ministores and Specialty Stores in Urban 4
key cities, which are also expanding fast towards Rural. As such, understanding how shoppers purchase FMCG in these channels is crucial
for both brands and retailers to capture more growth.
Retail landscape
Source: Kantar | Worldpanel Division | Households Panel | Urban 4 Key Cities & Rural Vietnam | Total FMCG excluding Gift | 12 weeks ending 28/03/2022 10
54
13
7
10
7
6
5
Street Shops
Hyper & Super
Wet market
Ministores
Online
Specialty Stores
Others
% Value share in Q1 2022
Urban 4
key cities
% Value change in Q1’22
Increase vs the same period last year
76
2
11
22 3 3
Street Shops
Hyper & Super
Wet market
Ministores
Online
Specialty Stores
Others
% Value share in Q1 2022
Rural
% Value change in Q1’22
Channel performance within FMCG for in-home consumption
+5%
-9%
-17%
+20%
+48%
-12%
+10%
+3%
-3%
+32%
+39%
+10%

11. Spotlight: Nuclear families is growing importance
11
% Households with 1-3 member
32%
37%
2017
2021
Volume per trip (L) index
of small households size vs averages
Liquid
milk
Bottled
water
Beer
Source: Kantar | Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Total FMCG including Gift | Full year 2021
Smaller and multi pack sizes are offering
within Beverages players
Surging prominence of Nuclear Families with fewer members leading to the smaller basket which is 80% of an average trip size,
indicating for manufacturers and brands to take action with more multi and small pack options.
Pack 4
Pack 6
Pack 12
Shampoo
Detergent
75
75
80
80
80

12. -5%
-3%
-1%
1%
3%
5%
7%
9%
-1
-0.5
0
0.5
1
1.5
Spend
Change
–
Billions
VND
Population Size
Inflation contribution to Grocery Spend change
Product Mix (Changing Price Tier/ Pack size)
Buy less / more Volume
Store Mix (Store Changing)
% Inflation
Source: Kantar | Worldpanel Division | Vietnam FMCG Panel | 12 weeks ending 30 March 2022 vs YA
Change in value spend for in-home FMCG consumption – 12 w/e rolling
Lunar NY
Lunar NY
12
Spotlight: How do Vietnamese consumers react to inflation?
Inflation is being witnessed in almost FMCG categories, reaching around 7% peak on average and becoming a challenge for both
consumers and brands. Vietnamese shoppers are changing their behavior to adapt to this pressure in different ways. Re-watch our latest
webinar to take out key findings to navigate this challenging wave.
%
Inflation*
*Inflation: Average of SKU price changes versus YA

13. Kantar is the world’s leading data, insights and
consulting company. We understand more about how
people think, feel, shop, share, vote and view than
anyone else. Combining our expertise in human
understanding with advanced technologies, Kantar’s
30,000 people help the world’s leading organizations
succeed and grow.
For further information, please visit us at
www.kantarworldpanel.com/vn
Contact us
Nguyen Van Vu – Marketing Executive
Worldpanel Division, Vietnam
ơ
M: +84 928 26 7015
58 Vo Van Tan St., Dist. 3, Ho Chi Minh City, Vietnam
E: Vu.NguyenVan@kantar.com
13