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Top 5 largest confectionery companies in Vietnam

Top 5 largest confectionery companies in Vietnam

Monday 01, 08 2022
Although there are thousands of confectionery manufacturers in Vietnam, most of the market share is held by a few large enterprises. Below is a list of the 5 largest confectionery companies in Vietnam conducted by VietnamCredit based on financial and non-financial indicators in the last 3 years.

1. KIDO GROUP CORPORATION

KIDO Group, formerly Kinh Do Group, was established in 1993 and has since become one of the leading food companies in Vietnam. During the first 20 years of its development, KIDO established and maintained its leading position in a wide range of confectionery products including cakes, breads, moon cakes, and cookies.

In 2015, aiming to expand and develop sustainably, KIDO Group officially transformed and set foot in the food & spices market. Along with that, the company continued to maintain and develop its leading position in the food industry with ice cream, milk & dairy products, and expanded its product portfolio to essential sectors with frozen food, cooking oil, instant noodles, seasoning seeds, sauces, coffee, convenient packaged foods.

In 2021, despite the impact of the Covid-19 pandemic, KIDO Group still achieved net revenue of VND 10,497 billion, up 26.1% over the same period last year. Profit from production and business activities of the company reached VND 688 billion, up 65.3% compared to 2020.

The report at the 2022 Annual General Meeting of Shareholders of KIDO said that its total assets reached VND 14,073 billion, and total equity was VND 6,895 billion. Accordingly, KIDO continued to be ranked 2nd in the cooking oil industry in Vietnam with 39% market share.

KIDO Group

In October 2021, KIDO returned to the confectionery market with the KIDO's Bakery brand and opened the F&B Chuk Chuk chain to more than 30 stores in Ho Chi Minh City and entered the fresh beverage market by forming a joint venture with Vinamilk.

For 2022, KIDO sets a target net revenue of VND 14,000 billion and pre-tax profit of VND 900 billion, increasing by 33% and 31% respectively compared to 2021.

2. ORION FOOD VINA COMPANY LIMITED

In the 1990s, the Korea's leading confectionery group, Orion, established a representative office in Ho Chi Minh City and started bringing its products to the Vietnamese market. In 2005, Orion officially opened a branch in Vietnam, established Orion Food Vina Co., Ltd. with 100% capital from the parent company.

Orion Vina is considered as one of the leading confectionery companies in Vietnam. Its most famous products in Vietnam including Chocopie and Custas have been affirmed their brand and quality in domestic and international markets.

Orion Food Vina Co., Ltd

In 2007, the Company established a branch of Orion Vina Food Co., Ltd in Bac Ninh to boost production and improve the company's revenue and profit.

Orion also has a factory in My Phuoc Industrial Park, Ho Chi Minh City. Besides, in order to be self-sufficient in raw materials for potato snack products, the company established O'star Farm in Vietnam, specializing in supplying fresh potato ingredients to produce O'star potato snacks. Orion annually invests millions of dollars in upgrading production lines, equipment and machinery to increase production capacity, helping to provide consumers with quality products.

3. HUUNGHI FOOD JOINT STOCK COMPANY

Huu Nghi Food Joint Stock Company (Huu Nghi Food), formerly known as Huu Nghi High-class Confectionery Factory, was established in 1997. So far, it has been one of the leading prestigious brands in Vietnam in the field of manufacturing and trading all kinds of cakes, confectionery and food.

Huu Nghi Food Joint Stock Company has 2 branches, 3 factories in Hanoi, Binh Duong and Bac Ninh, with the leading scale and modern production lines in Southeast Asia. Currently, the company has a wide distribution system with hundreds of distributors and more than 140,000 retail stores nationwide.

Huu Nghi Food Joint Stock Company

Besides selling directly at supermarkets and shops, Huu Nghi is also selling online through e-commerce platforms such as Shopee, Tiki, Lazada, Sendo and Facebook.

For 2022, Huu Nghi Food Joint Stock Company expects to achieve revenue of VND 2,083 billion, up 20%. However, pre-tax profit is expected to decrease by 13% to VND 45 billion compared to the 2021. In 2022, the company plans to produce 24,911 tons of products, up 13% year-on-year.

4. VIETNAM LIWAYWAY JOINT STOCK COMPANY

In 1996, a snack manufacturing company was established in Vietnam with the name CNTP Liwayway (Vietnam) Co., Ltd., located in Vietnam - Singapore Industrial Park, Thuan An, Binh Duong. On June 30, 2008 the company changed its name to Vietnam Liwayway Joint Stock Company. Its second factory which is located in Que Vo Industrial Park, Bac Ninh went into operation in 2007. The third factory came into operation in 2009.

Vietnam Liwayway Joint Stock Company

Currently, the factory in Bac Ninh has more than 1000 employees and produces more than 50 different types of snacks, candies and soft drinks. Products bearing the company's OISHI brand are now widely sold and become familiar in the domestic market.

Net revenue of Liwayway Saigon in 2020 was VND 2,067 billion, down 3.4%. The company also suffered a loss after tax of VND 4.35 billion.

5. HAIHA CONFECTIONERY JOINT STOCK COMPANY

HaiHa Confectionery Joint Stock Company (HAIHACO) is one of the largest confectionery manufacturers in Vietnam. The company was established in 1960. Since then, the company has continuously grown, accumulated a lot of experience in production and business.

Formerly a small factory with a capacity of 2000 tons/year, currently, the company has developed into major confectionery  company with a production scale of up to 20,000 tons/year.

In 2003, the company was equitized under the Decision No. 191/2003/QD-BCN dated 14/11/2003 of the Ministry of Industry.

It officially operated in the form of a joint stock company from January 20, 2004 according to the Business Registration Certificate No. 0103003614 issued by the Hanoi Department of Planning and Investment and changed for the seventh time on May 9, 2018.

HaiHa Confectionery Joint Stock Company (HAIHACO)

According to the financial statements of the first quarter of 2022, Hai Ha recorded nearly VND 241 billion in net revenue, up 43% over the same period last year. In which, cost of goods sold was nearly VND 221 billion, up 41% over the same period. Its gross profit reached nearly VND 20 billion, up 71%. Financial revenue of the company recorded nearly VND 8 billion, up 28% over the same period.

It is known that in 2022, Hai Ha aims to reach VND 1,200 billion in revenue, up 29% compared to 2021. Meanwhile, the company expects pre-tax profit to drop by 39% to VND 40 billion.

Thus, compared with the plan, after the first quarter, the company has achieved 20% of revenue target and 49% of profit target.

As of March 31, Hai Ha's total assets reached nearly VND 1,411 billion, up 13% compared to the beginning of the year.

Henry Tran - VietnamCredit

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