The FMCG market landscape in Vietnam
In both urban and rural Vietnam, the monthly expenditure for FMCG products has been increasing in past years. Although the spending amount on these products among the urban population has been much higher than that of their rural counterparts, the gap is narrowing fast. According to forecasts, the growth rate of in-home FMCG value in rural Vietnam will surpass urban areas’ value growth in 2021. While dairy products accounted for the largest share of the FMCG expenditure of urban inhabitants, packaged grocery items were responsible for the highest FMCG value in rural areas. Despite the differences in spending patterns, personal care, packaged food, and dairy have been the FMCG categories with the highest value growth rate regardless of the degree of urbanization.International consumer goods companies such as the Korean Masan Group, Japanese Acecook, and the multinational Unilever own the majority of the most chosen FMCG brands in Vietnam. Meanwhile, several Vietnamese corporations have also secured their positions among the leading consumer goods brands across the country. For instance, despite the entrance of many foreign brands into the market, the local company Vinamilk has been dominating the dairy industry, holding almost half of the market share.
