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Top 10 food companies in Vietnam

Top 10 food companies in Vietnam

Monday 17, 08 2020

Vietnam Food Processing Industry Report, which was prepared by VietnamCredit, gives an overview, general information about macroeconomic and market situations and a SWOT analysis for Vietnam’s food processing industry in 2019. In addition, the report also provides detailed information about the 10 biggest companies in the industry.

Industry overview

Vietnam's food industry is a large industry, playing an important role in economic development. The food processing industry of Vietnam includes small sub-sectors such as processing and preserving of meat, fisheries, cooking oil, vegetables, fruits, milk, starch and other food products.

In recent years, Vietnam's food processing industry has grown strongly, gradually supplying many highly competitive products that have dominated the domestic market and met the strict requirements of foreign markets. In addition, with a population of nearly 100 million people, of which more than half are under 30 years old, Vietnam is considered one of the most high-potential markets for food and beverages in the region.
Since 2015, Vietnam’s manufacturing industry in general has maintained a growth rate of over 10% per year. Meanwhile, the food processing industry accounts for the largest proportion in the industrial production value, and that demonstrates the potential as well as the size and growth of this industry. Moreover, Vietnam has abundant agricultural products and raw materials, which is very convenient for the production and processing of food.

Sales of food in the domestic market in 2018 was estimated at approximately USD 42.8 billion. According to the Ministry of Industry and Trade, the annual consumption of Vietnam's food and beverage always accounts for about 15% of GDP and is expected to increase in the near future. It is believed that Vietnam's food market is appealing not only to domestic businesses but also to foreign businesses.
The good performance of Vietnam's food processing and manufacturing sector has caught the attention of many foreign investors, and many large M&A deals have taken place accordingly. For example, CJ Group, a South Korean organization, acquired 65% of the shares of Minh Dat Food Company Limited, and KKR, an American company, bought 7.5% of Masan Group. These are positive signals that bode well for future investments in this sector.

Top 10 food companies in Vietnam

Top 10 largest companies in Vietnam’s food processing industry were selected by VietnamCredit based on their size, credit ratings, and business performance in 2019, 2018 and 2017.

Top 10 food companies in Vietnam


Vinamilk is the largest company in dairy products processing industry in Vietnam. Besides dairy products, it also participates in providing technological food, equipment, spare parts, and chemical supplies; real estate business, warehousing, and transportation; production and trading of wine, beer, alcoholic beverages, and tea; trading packaging. Its stock has been listed on HOSE since 19 Jan 2006. Vinamilk is currently one of the largest listed companies on Vietnamese Stock Exchange with a market capitalization of VND 201.8 trillion as of 29 Jun 2020. Recently, it has been continuously expanding export markets to Singapore, Dubai, China, South Korea, and other countries despite the Covid-19 epidemic. 


Minh Phu Seafood JSC was founded in 1992 as a private enterprise. As of 31 Mar 2020, the company had 14 subsidiaries which participate in processing and trading seafood products, farming seafood, manufacturing biological fertilizer and feed ingredients, trading machinery and equipment for aquaculture, and seafood processing sector.

Due to shrimp disease, high prices of raw materials, and the low price of finished products, the company’s sales from shrimp export in the fourth quarter of 2019 decreased dramatically by 43% against the same period last year. In addition, the consolidated profit after tax in 2019 also dropped by 45% against 2018.


Thanh Thanh Cong – Bien Hoa JSC is a giant in the sugar manufacturing industry. The company operates in many business fields such as producing sugar, producing electricity, growing sugar-cane, producing and trading fertilizer, agricultural material, civil construction project (supermarkets, restaurants, hotels and other such buildings). However, manufacturing and trading of sugar is the core business. In Q3 of 2019-2020 accounting period, its turnover from sugar reached VND 8,404 billion, occupied 92% of total sales. Currently, the company has over 50 kinds of sugar products, including sugar candy, yellow sugar, organic sugar, refined extra sugar, and refined standard sugar, etc. It provides products to businesses, distributors, supermarkets, convenience stores, and retail stores in Vietnam, and exports to the U.S, the EU, South Korea and Singapor, and other Asian countries.


Acecook Vietnam Joint Stock Company specializes in producing a variety of convenient packaged products such as instant noodles, instant vermicelli, instant rice noodles, instant porridge, cooking oil, and fish sauce with popular signature brands such as Hao Hao, Lau Thai, De Nhat, Phu Huong, and so on. The company imports equipment and flour from Japan, China, and Singapore. In addition to the domestic market, its products are exported to international markets such as the US, Canada, Cambodia, Laos, Singapore, Germany, Russia, France, Hungary, Australia, New Zealand and the Middle East.


Established in 1996, Cai Lan Oils & Fats Industries Co., Ltd. specializes in manufacturing and processing all kinds of refined and pure palm olein and canola, soybean, sunflower oil, and stearin palm oil under well-known brands: Neptune, Simply, Meizan, Cai Lan and other. Its scale has been expanded greatly with the continuous increase of investment capital over the years. Currently, its products are not only distributed in the domestic market but are also exported to foreign markets such as China, Bangladesh and other Asian countries. Recently, the Covid-19 pandemic has negatively affected the global economy, thereby causing the change of consumption trends in food storage. This is an opportunity for the company to increase revenue. Moreover, as seen from financial data, this company operates effectively, and its self-financing ability has been strong in the past years.


Vissan Joint Stock Company operates in the fields of trading and processing various types of meat and eggs and breeding pigs, cows, and beef cattle. In addition, it also provides technical services for raising pigs and cows. Furthermore, it trades vegetables, fruits, and other consumer goods. It is a subsidiary of Saigon Trading Group. Vissan’s products are very popular in the Vietnamese market. Its products are available at nearly every chain of supermarkets such as Big C, Metro, Satrafood, Aeon and Coopmart.


URC Vietnam Company Limited specializes in manufacturing confectionery and beverages. In Aug 2007, the company started to manufacture biscuits in order to strengthen its foothold in the fast-growing snack food market in Vietnam. Major products of the company are snacks (Fun Bite, Potato Chips), biscuits (Cream-O, Magic), candies (Dynamite, Lush, Xcite), and beverages (C2).


Perfetti Van Melle (Vietnam) was set up in 1995 as a Joint Venture between Perfetti S.P.A (Italy) and Saigon Foods Company (Vietnam). Currently, the company is operating with a charter capital of USD 6.6 million invested by Van Melle International Trust B.V (Netherlands) with full ownership. The company gets involved in producing and trading chewing gum and other confectionery products.
Its brand names (like Alpenliebe, Center Fruit, Golia, Cofitos, Mentos, Happydent White, Big Babol, Chupa Chups) are comparatively recognizable to customer’s awareness. Besides serving the domestic market, it has penetrated into other countries for promoting sales such as Indonesia, Malaysia, Thailand, Singapore, Egypt, the USA, Australia, and Canada.


Masan MB One Member Co., Ltd. was officially established in 2014 by Masan Food Company Limited, a subsidiary of Masan Consumer Corporation - a member of Masan Group. It specializes in manufacturing, packaging, and supplying types of seasonings and instant food, including noodles (Omachi, Kokomi), and fish sauce (Nam Ngu, Chinsu). For production, it imports additives and spare parts from China, South Korea, Singapore, the USA, and other highly-developed countries. The products are widely distributed in the domestic market.


Interflour Vietnam Ltd. specializes in manufacturing and trading wheat flour, and malt. Also, it supplies port and warehouse rental services, and other grain commodities such as barley, corn, and canola meal. In addition to the domestic market, it also exports to foreign markets such as Thailand, China, Philippines, Singapore, Cambodia, and other Asian countries.

Source: VietnamCredit

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