The report titled “Vietnam Pudding Market Outlook to 2025F – Driven by Robust Population of Millennial Consumers along with
Proliferation of Food Tech Apps” provides
a comprehensive analysis of the pudding industry of Vietnam. The
report covers various aspects including the current bakery and pudding sales in
Vietnam and current scenario in terms of value and volume, its segmentations
viz, Distrubtion Channels (Bakery/Confectionery Stores, HORECA’s and Online)
and By Type of Cities (Tier 1and Tier 2 Cities), Consumer Preferences and
Trends Analysis, Pricing Analysis, Major trends and development, issues and
challenges and competition benchmarking. The report concludes with market
projections for future of the industry including forecasted industry size by
revenue.
Vietnam Pudding Market
The pudding
market in Vietnam witnessed a double digit growth of 10.8% CAGR during
the year 2015 to 2020. The market is currently at growth stage and entry of
international bakeries and food service joints along with increasing disposable
income and westernized cultures boosted the sales of pudding. Most of the
pudding demand for urban consumers are
met by local bakery shops due to ease of availability and affordable
prices. However, the closure of foodservice outlets during lockdown along with
the strict government restrictions on gatherings during COVID 19 has seriously
affected the sales of puddings. Consumer
footfall to bakery shops and retailing stores has also decreased significantly
post COVID due to safety and health concerns. Because festivals are major sales
drivers for cakes and puddings in Vietnam, the sales performances of bakeries
in 2020 as a whole proved to be weaker than expected.
Vietnam Pudding Market Segmentation
By Distribution Channel: The standalone stores such as
bakeries and confectioneries dominated the market due to its ease of convenience and
product offerings. However, online channels are gaining traction post COVID19
making it convenient for consumers and creating opportunities for many
restaurants, small eateries and housewives to offer bakery products to
consumers.
By Tier 1 and Tier 2 Cities: Consumer preferences in terms of
taste, flavor and price of pudding differ depending on the region in Vietnam.
Consumers especially under Tier 1 cities prefer to consume Pudding as a part of
dessert under Hotels and Restaurants, where premium is quite higher and falls
under the range of above VND 20,000. However, consumers in Tier 2 cities prefer
independent shops and street stalls as they charge a lower price premium on the
pudding and hence serves under the price range of VND 10,000-15,000.
Comparative
Landscape in Vietnam Pudding Market
Competition was observed to
be highly fragmented with presence of more than 1,000 organized/semi-organized
and ~30,000+ unorganized bakeries
and broad gamut of modern trade channels. Organized bakeries are
utilizing social media to provide targeted and cost-effective marketing. Lacking the large budgets of international
chains, local bakery cafes are eschewing traditional marketing to rely on
word-of-mouth recommendations and social media engagement. Tapping into the
artisanal market, smaller bakeries are concentrating on quality over quantity,
while larger chains such as Nyugen Son Bakeries and Coffee House rely on
creating larger quantities but with strong branding and associated trust.
Vietnam Pudding Market Future
Outlook and Projections
The pudding market in Vietnam is expected to
experience medium level of growth owing to population growth along with rising
incomes, health consciousness and the thriving bakery industry. Market expected
to gain momentum with rise in disposable income per capita and increase in
target population. Demand from Tier 1 and Tier 2 cities such as HCM, Hanoi and
Da Nang to dominate the market in the future. Technical innovation in bakery
equipment to result in efficient delivery of a variety of artisanal baked
products at scale. New products such as fat free and sugar free pudding is expected to boost the market growth in the
coming years.
Key Segments Covered in Vietnam
Pudding Market:-
By Distribution Channel
Standalone Sops (Bakery/Confectionery)
Online
HORECA’s
By Tier 1 and Tier 2 Cities
Sales
Tier 1 Cities
Tier 2 Cities
Key Target Audience:-
Pudding Manufacturers
Pudding Mix Manufacturers
Consultancy Companies
Bakeries/Confectioneries
Hotels and Restaurants
Time Period Captured in the
Report:-
Historical Period: 2015-2020
Forecast Period: 2020–2025
Key Topics Covered in the Report:-
Vietnam Pudding Market Introduction and Overview
Supply Side Ecosystem and Geographical Distribution
Value Chain Analysis of Pudding Market
Consumer Trends and Preferences
Industry Analysis (Porter’s Five Forces Analysis)
Comparative Landscape – Vietnam Pudding Market
Entry Barriers in the Industry
Future Trends in Vietnam Pudding Market
Research Methodology
Appendix
For
More Information on the research report, refer to below link:-
Related Reports:-
Global Puddings Market 2019 By
Manufacturers, Regions, Type And Application, Forecast To 2024
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