Vinamilk, Masan, Heineken top 'reputable' food-beverage firms in Vietnam: report

Dairy giant Vinamilk, consumer goods corporation Masan and beer maker Heineken are among the most "reputable" food and beverage firms in Vietnam in 2024, according to research firm Vietnam Report JSC.

In the rankings released on Tuesday, Vinamilk tops the category of dairy and dairy products, while Nestlé Vietnam Co., Ltd champions in the group of sugar, confectionery and nutritional products.

Masan leads the pack in condiments, spices and cooking oils, Acecook Vietnam in dry food and instant food; and C.P. Vietnam in fresh and frozen food.

Heineken Vietnam takes the lead in the category of alcoholic beverages; Suntory Pepsico Vietnam in non-alcoholic beverages; Golden Gate Group in restaurant chains, food services and franchizing; and Trung Nguyen Legend Group in coffee shop chains, beverage services and franchizing.

According to Vietnam Report, in 2023, many companies in the food and beverage (F&B) sector achieved "impressive" growth in revenue and profit. The ratio of businesses reporting revenue growth surged from 66.7% to 93.3%. Notably, 86.7% of firms reported profit increases, exceeding the ratio in 2022.

Data from German online platform Statista shows that the Vietnamese food market reached $96.47 billion in 2023, up 9% against 2022.

The confectionery and snack segment accounted for the largest share at 14.6%, with a market size of approximately $14.13 billion. In the beverage sector, revenue hit $27.12 billion, with non-alcoholic beverages contributing the biggest share of 37.7% and showing the fastest growth.

In 2023, despite facing challenges due to macroeconomic conditions, the F&B industry in Vietnam showed positive signs indicating its attractiveness and strong potential for growth. Local companies demonstrated adaptability in navigating external fluctuations.

This year, F&B businesses are expected to maintain revenue growth across most distribution channels, except for the on-premise segment, which saw a slight decline (down 4.4 percentage points) in the ratio of companies reporting revenue growth in 2024.

Notably, e-commerce continues to show stable growth, with 90.5% of companies reporting rising revenue compared to the previous year.

The Top 10 Most Reputable Food and Beverage Companies is the result of "an independent study" by Vietnam Report since 2017.

Companies are ranked based on three main criteria: financial capability reflected through latest financial statements; media reputation evaluated using Media Coding which analyzes articles about companies across influential media channels; and stakeholder surveys conducted in August 2024.

In addition to the F&B industry, Vietnam Report makes rankings for other key sectors in Vietnam, such as real estate, construction, information technology, banking, insurance, pharmaceuticals, tourism, and logistics.