With a large population and high GDP Growth Rate, Vietnamese economy is showing promise and that better days for its large consumer base are not long in coming. Vietnam’s consumer base numbers 88.1 million (UN, 2009), which create a huge demand for processed goods.
With increasing urbanization and growing demand for quality food, Vietnam is becoming a hub for food products processing as the industry has been growing at an annual rate of 20-30%. Changing consumption habits are making processed food more accessible to the Vietnamese.
The locals now use more processed or preliminarily treated food to make meals, which is seen as a big opportunity for food processors, says a new research report Processed Food Market in Vietnam by RNCOS.
In order to exploit the opportunities, many processed food producers have already started focusing on making processed food for domestic sales instead of making food for export as previously.
Vietnam is also a big exporter of commodities like rice, green coffee, rubber, pepper, seafood, textiles and garment. Meanwhile, distributors are now racing to conquer the market.
The above market situation is a good opportunity to serve the process industries in Vietnam with modern technology and automated processing equipments.