Baby Cereals & Other Dried Baby Food - Vietnam

Vietnam

Revenue in the Baby Cereals & Other Dried Baby Food market amounts to €301.60m in 2024. The market is expected to grow annually by 12.08% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€1,876m in 2024).
In relation to total population figures, per person revenues of €2.99 are generated in 2024.
In the Baby Cereals & Other Dried Baby Food market, volume is expected to amount to 47.06m kg by 2029. The Baby Cereals & Other Dried Baby Food market is expected to show a volume growth of 9.3% in 2025.
The average volume per person in the Baby Cereals & Other Dried Baby Food market is expected to amount to 0.3kg in 2024.

Key regions: Spain, Russia, Japan, India, United States

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Baby Cereals & Other Dried Baby Food Market in Vietnam has been facing slow growth due to various factors, such as declining birth rates and increasing competition from homemade baby food. This has led to subdued growth in the overall Baby Food Market within The Food market in Vietnam, despite the rising health awareness and convenience of online services.

Customer preferences: As Vietnam's economy continues to grow and urbanize, parents are increasingly turning to convenient and nutritious options for their babies. The Baby Cereals & Other Dried Baby Food Market has seen a rise in demand for organic and natural products, as well as a focus on locally sourced ingredients. With more women entering the workforce, there is also a need for on-the-go and ready-to-eat options, driving the popularity of baby food pouches and snacks. Additionally, there is a growing awareness of food allergies and intolerances, leading to a demand for specialized and hypoallergenic baby food products.

Trends in the market: In Vietnam, the Baby Cereals & Other Dried Baby Food Market is experiencing a shift towards organic and natural options, as consumers become more health-conscious and seek out products with cleaner labels. This trend is expected to continue, with an increasing demand for products that are free from additives and preservatives. This presents opportunities for industry stakeholders to tap into this growing market segment and offer more diverse and innovative products. Additionally, with the rise of e-commerce and online shopping, there is a potential for online retailers to gain a larger share of the market, as more consumers turn to online platforms for convenience and a wider range of product options.

Local special circumstances: In Vietnam, the Baby Cereals & Other Dried Baby Food Market of the Baby Food Market is heavily influenced by the country's rapidly growing middle class and their demand for convenient and nutritious options for their children. Additionally, the government's focus on improving child nutrition through regulatory initiatives has contributed to the market's growth. Furthermore, the country's strong agricultural sector and abundance of locally sourced ingredients play a significant role in shaping the baby food market, with a preference for natural and organic options.

Underlying macroeconomic factors: The Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending power, population growth, and government policies. In Vietnam, the rising middle class and increasing urbanization have led to a greater demand for convenient and healthy baby food options, driving market growth. Additionally, government initiatives to improve nutrition and maternal health have also contributed to the expansion of the market. However, economic fluctuations and inflation can impact consumer purchasing power and affect market performance. Moreover, the ongoing COVID-19 pandemic has caused disruptions in supply chains and consumer behavior, further impacting the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.