Vietnam Frozen Food Market to Grow with a CAGR of 7.74% through 2030
The Vietnam Frozen Food
market is expanding due to increasing urbanization, rising disposable incomes,
changing consumer lifestyles, and growing demand for convenient, ready-to-eat
meals
According
to TechSci Research report, “Vietnam Frozen Food Market – By Region, Competition,
Forecast & Opportunities, 2030F”, the Vietnam Frozen Food market stood
at USD 2.04 billion in 2024 and is anticipated to grow USD 3.18 billion by 2030
with a CAGR of 7.74% during forecast period. Vietnam’s frozen food market is primarily characterized
by a shift in consumer behavior toward convenience and a growing preference for
easy-to-prepare, time-saving food options. With busy lifestyles and increased
working hours, especially in urban areas, consumers are increasingly turning to
frozen foods for their convenience, long shelf life, and variety. Frozen meats,
vegetables, seafood, and ready-to-cook meals have become popular choices due to
their convenience, ease of storage, and ability to maintain nutritional value.
Furthermore, the continued expansion of supermarkets, hypermarkets, and
e-commerce platforms has facilitated access to these products, making frozen
food more widely available and accessible to consumers.
The frozen food market is also being
shaped by the rise of health-conscious consumers in Vietnam. As the awareness
of healthy eating grows, consumers are increasingly seeking out products that
offer nutritional value without artificial additives and preservatives. This
trend has led to an increase in demand for healthier frozen food options, such
as frozen fruits, vegetables, and lean meats. Additionally, the growing
interest in international cuisine has led to an increase in the variety of
frozen food products, with more consumers embracing frozen meals that cater to
global tastes.
Several factors are contributing to the
strong growth of the frozen food market in Vietnam. The country’s rapid
urbanization is a key driver. As more people move to cities for employment
opportunities, urban centers like Ho Chi Minh City and Hanoi have seen a rise
in demand for frozen food. With increasing disposable incomes, the middle-class
population in urban areas has more spending power, and they are more likely to
invest in frozen foods for convenience and quality.
The continued improvements in cold chain
infrastructure have played a critical role in the growth of the market. As the
storage and transportation of frozen goods have become more efficient, the
quality of frozen food products has improved. The establishment of modern
retail networks and cold storage facilities ensures that frozen food products
maintain their freshness and nutritional value, even during transportation and
distribution. Cold chain logistics have become a vital part of the supply
chain, enabling frozen food companies to offer a diverse range of high-quality
products to a broader consumer base.
Another trend is the growing interest in
health-conscious frozen food options. As more Vietnamese consumers adopt
healthier lifestyles, there is an increasing demand for frozen foods that offer
nutritional benefits. Frozen fruits and vegetables, lean meats, and seafood are
gaining popularity as they are seen as healthy and convenient alternatives to
fresh produce. Frozen foods are also becoming more "clean-label,"
with consumers increasingly looking for products with no artificial
preservatives, additives, or colors. Brands that offer these healthier frozen
options are finding growing demand in the market, as health-conscious consumers
prioritize product transparency and quality.
Despite the growth prospects, the
Vietnam frozen food market faces several challenges. One of the primary
obstacles is the underdeveloped cold chain infrastructure in certain areas of
the country. While urban areas benefit from better refrigeration and transportation
systems, rural regions still lack efficient cold chain logistics. This limits
the accessibility and distribution of frozen food products to remote areas,
where traditional markets and fresh food are still the preferred options. The
cost of building and maintaining cold storage facilities and transportation
systems is also a significant barrier, especially for smaller players in the
market.
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" Vietnam Frozen Food Market”
The Vietnam Frozen Food market is segmented into product type,
sales channel, and company.
Based on the sales channel, the online segment is
the fastest growing in the Vietnam frozen food market, driven by the increasing
popularity of e-commerce and changing consumer shopping habits. With the rise
of platforms like Tiki, Lazada, and Shopee, consumers can conveniently purchase
frozen food products from home, particularly in urban areas. The COVID-19
pandemic accelerated the shift toward online grocery shopping, making it a
preferred option for many. The online segment offers the convenience of home
delivery, wider product selection, and competitive pricing, fueling its rapid
growth. This trend is expected to continue, further transforming the way
Vietnamese consumers access frozen foods.
Based on the region,
Southern Vietnam is experiencing the fastest growth in the country's frozen
food market, driven by a combination of economic expansion, urbanization, and
evolving consumer preferences. This region, encompassing key provinces like Ho
Chi Minh City, Bình Dương, and Đồng Nai, is a central hub for economic
activity, contributing significantly to Vietnam's GDP and foreign direct
investment. The increasing disposable income and changing lifestyles of
consumers in Southern Vietnam have led to a higher demand for convenient and
ready-to-eat food options. Supermarkets, hypermarkets, and online platforms are
expanding their reach, making frozen food products more accessible to a broader
audience. Additionally, the region's robust infrastructure and logistics
networks support efficient distribution, ensuring the availability of a wide
range of frozen food items.
Major companies
operating in Vietnam Frozen Food market are:
- CP
Vietnam Livestock Joint Stock Company
- Sao
Ta Foods Joint Stock Company
- Vinh
Hoan Corporation
- GreenFeed
Vietnam Corp
- Cao
Phat Food Trading and Service Company Limited
- Kido
Foods Joint Stock Company
- Viet
Asia Foods Company Limited
- L&H
Food Co., LTD.
- San
Ha Co., Ltd.
- Minh
Phu Seafood Corp
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“One of the most
significant trends in the Vietnam frozen food market is the growing demand for
convenience foods. As urban populations become more time-constrained,
ready-to-eat and easy-to-prepare frozen meals are gaining popularity. Consumers
are increasingly seeking meals that require minimal preparation, and frozen
foods fit this demand perfectly. Frozen ready-to-eat meals, such as frozen
pizzas, frozen rice dishes, and frozen snacks, are among the most popular
products in this category. Supermarkets and hypermarkets have expanded their
frozen food offerings to cater to this shift in consumer preferences. The
changing lifestyles of Vietnamese consumers are driving the demand for frozen
foods. More people are working long hours, and the demand for convenient meal
solutions has grown substantially. Frozen foods, especially ready-to-eat meals,
provide a time-saving solution for busy professionals and dual-income families
who do not have the time to prepare elaborate meals. The ability to store
frozen food for extended periods also appeals to consumers seeking to minimize
trips to the grocery store and reduce food wastage,” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Vietnam Frozen Food
Market, By Product Type (Frozen Meat, Poultry & Seafood, Frozen Snacks,
Frozen Fruits & Vegetables, Others), By Sales Channel
(Supermarkets/Hypermarkets, Departmental Stores, Specialty Stores, Online,
Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”,
has evaluated the future growth potential of Vietnam Frozen Food market and
provides statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Vietnam Frozen Food market.
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