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Top 9 largest food & beverage companies in Vietnam (2022 update)

Top 9 largest food & beverage companies in Vietnam (2022 update)

Monday 04, 07 2022
The list of 9 largest food and beverage companies in Vietnam is prepared by VietnamCredit based on their financial data for the last 3 years including revenue, profit after tax and gross profit margin. In addition, we also consider other non-financial factors such as position and reputation of businesses when evaluating.

food and beverage companies

Data source: VietnamCredit


C.P Vietnam is one of the largest FDI companies with revenue reaching billions of USD. It was among the first foreign "giants" to enter the Vietnamese animal feed market. In 1993, this company built the first animal feed factory in Vietnam. So far, C.P has become the enterprise with the largest market share, leading the animal feed market in Vietnam with 9 factories nationwide. For several years, CP Vietnam (CPV) has maintained a revenue of more than $3.5 billion.

CP Vietnam

In 2021, CPV's revenue reached nearly $3.7 billion, an increase of 3% compared to 2020, which makes it become one of the most profitable enterprises in Vietnam. CPV dominates the Vietnamese livestock segment, specifically pork and chicken. In terms of structure, more than 70% of this company's revenue comes from the livestock and food segments, the rest is from animal feed.

At the end of last year, CPV signed a strategic cooperation agreement with PAN Group, thereby investing 25% of shares in Sao Ta Foods (Fimex) - a large shrimp enterprise in Vietnam.


In 2021, the dairy industry in general was also objectively affected by the pandemic, and the leading enterprise in the industry was not an exception. However, Vinamilk still set a new record in revenue with the first time surpassing the milestone of VND 60,000 billion.


Data source: VietnamCredit

Vinamilk's total consolidated revenue in 2021 exceeded VND 60,000 billion for the first time, reaching VND 61,012 billion (equivalent to $2.7 billion), an increase of 2.2% over the same period in 2020.

Regarding exports, Vinamilk’s net direct export revenue in 2021 reached VND 6,128 billion, up 10.2% over the same period. Growth was driven by the Middle East and Africa markets thanks to the recovery in demand for dairy products and effective market development.

Besides, Vinamilk started exporting products to a joint venture in the Philippines from the end of the third quarter of 2021 with positive initial results. In 2021, the company developed 2 new export markets, which means it has successfully penetrated 57 markets. In 2022, Vinamilk will continue to seek opportunities to expand and explore export markets.

According to Vinamilk, the total amount of fresh milk that it producted in 2021 was the highest ever, reaching approximately 380 thousand tons. In addition, with the addition of new farms, the ability to self-sufficient in raw milk materials Vinamilk's input will also be improved.

Capturing the growth potential of milk consumption in Vietnam and exports in the coming years, Vinamilk has planned to build a dairy factory in Hung Yen with a total investment of VND 4,600 billion and an estimated total design capacity of about 400 million liters/year. This will be Vinamilk's largest dairy factory in the North and will help the company strengthen its market share in the North and serve the growing export demand.


Masan Consumer Corporation manufactures and distributes a wide range of food and beverage products. It is a subsidiary of Masan Group, whose total revenue in 2021 reached VND 88,629 billion.

In 2021, the Covid-19 pandemic negatively affected the expansion of system, the launch of new innovations and the supply / production chain of Masan.

Masan Consumer Corporation

However, overcoming these difficulties, The CrownX, the integrated consumer-retail platform between WinCommerce and Masan Consumer still achieved net revenue of VND 58,000 billion, equivalent to a growth of 6.9% over the same period last year. Particularly, net revenue in the fourth quarter of 2021 increased by 12.6% over the same period, showing a positive signal for the growth momentum for the financial year 2022.

For consumer goods, the net revenue growth of Masan Consumer Corporation in both fiscal year 2021 and quarter 4/2021 experienced an increase of 20% and 32.3%, respectively, to VND 28,764 billion and VND 10,070 billion.


In 2021, Saigon Beer – Alcohol – Beverage Corporation (Sabeco) recorded of VND 26,374 billion, down 5.7% compared to the previous year. Due to high costs, profit after tax reached only VND 3,929 billion, down 20.4% over the same period.

Sabeco informed that business activities recovered in the fourth quarter of 2021 after the southern provinces reopened to normal after a long period of social-distancing due to Covid-19, so the company's revenue and profit were higher compared to the third quarter.

Saigon Beer – Alcohol – Beverage Corporation (Sabeco)

In addition, Sabeco also said that in 2021, it implemented many comprehensive solutions to optimize business management and promote sales activities, thereby contributing to minimizing the serious impact of the pandemic.


Starting as a consumer goods company, Suntory Group was established in 1899 in Osaka, Japan. It has become the world's leading brand in this field, specializing in providing beverages. This is a family business, now a multinational corporation operating in Asia, Europe, America and Oceania.

Suntory PepsiCo Vietnam

On the journey of building and developing in the Vietnamese market, Suntory PepsiCo Vietnam has achieved some great successes. Suntory Pepsico Vietnam is currently the leading beverage company in Vietnam market with 5 production plants, 6 sales offices, nearly 3,000 official employees and thousands of informal employees. So far, the company has produced and supplied to the market 13 leading prestigious products such as Pepsi, 7Up, Sting, TEA+, Aquafina, Revive, Mirinda, ...

Total revenue in 2021 of Suntory PepsiCo Vietnam was 0.83 billion USD, not much changed compared to 2020.


CJ Vina Agri Co., Ltd. is a livestock and feed production companies under CJ Group - Korea. CJ Vina Agri started operating in Vietnam in 1999.

The company currently owns 7 factories producing large-capacity feed for livestock and poultry in Hung Yen, Ha Nam, Long An, Dong Nai, Binh Dinh and 2 factories specializing in the production of aqua feed in Vinh Long.

CJ Vina Agri

Along with that are more than 120 direct livestock farms, processing farms, and 8 transshipment warehouses. CJ Vina Agri aims to contribute to the development of Vietnam's livestock industry with high-quality products that satisfy meet nutritional needs and competitive prices. In addition, CJ Vina Agri also promotes husbandry and food processing with well-known brands: CJ Cau Tre, CJ Foods, CJ Minh Dat.

According to the financial statement for 2021, the company's total revenue was nearly VND 16 trillion, profit before tax was VND 5,000 billion.


Nestlé is a familiar brand in the FMCG industry in Vietnam. It provides valuable products and solutions in nutrition and health with famous brands such as Milo, Kitkat, Lavie, Nescafe, Maggi, ..

Nestlé Vietnam Co., Ltd. was established in 1995, in the form of a 100% foreign-invested company, under the Nestlé S.A Group – the world's largest food and beverage group, headquartered in Vevey - Switzerland, present in 191 countries with more than 300,000 employees globally. In Vietnam, Nestlé opened its first sales office in Saigon in 1912.

Nestlé Vietnam Co., Ltd.

By the end of 2019, Nestlé's total investment capital in Vietnam reached more than $700 million. Up to now, Nestlé is operating 6 factories in Vietnam with more than 2,500 employees nationwide.

Nestle Vietnam's revenue in the period from 2018 to 2021 remained at around $0.7 billion.


Currently, there are 50 companies producing instant noodles in Vietnam, including foreign brands. Acecook Vietnam is one of the 4 leading enterprises in the field.

Acecook Vietnam Joint Stock Company was established in 1993 in Ho Chi Minh City and officially came into operation in 1995 with 100% Japanese capital. Up to now, Acecook Vietnam has become a “giant” in the consumer goods industry in Vietnam with a market share of about 50%.

Acecook Vietnam is quite successful with the Hao Hao noodle brand, because of its low price and suitable for Vietnamese people. After nearly 30 years of establishment and development, Acecook has brought Hao Hao noodles to more than 47 countries and territories around the world.

Acecook Vietnam Joint Stock Company

In recent years, Acecook Vietnam has expanded its product portfolio beyond Hao Hao, covering segments from instant noodles, pho, noodle soup, vermicelli noodles, pickles, to snacks. These product categories bring huge profits to this company every year.

In the period 2016 - 2019, Acecook Vietnam's net revenue grew continuously from VND 8,413 billion (in 2016) to VND 8,878 billion (in 2017) then VND 9,829 billion (in 2018) and reached the milestone of VND 10,648 billion (2019).

Profit also increased at an average rate of about 20%/year, from VND 920 billion (in 2016) to VND 1,115 billion (in 2017), to VND 1,383 billion (in 2018) and then VND 1,660 billion (in 2019).

In 2021, this enterprise's revenue reached over VND 12 trillion.


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

The report at KIDO's 2022 Annual General Meeting of Shareholders shows that KIDO's total assets reached VND 14,073 billion while total equity was VND 6,895 billion. Such figures were the results of quickly responding to market conditions, flexibly shifting business activities, proactively coordinating human resources, focusing on core businesses such as cooking oil, ice cream, F&B chain, snacking, besides joint venture cooperation and international association.

KIDO Group Corporation

Accordingly, KIDO was ranked 2nd in the cooking oil market in terms of ownership and controlling ratio increasing to 39%.

In October 2021, KIDO returned to the confectionery market with the brand KIDO's Bakery, opened the F&B Chuk Chuk in Ho Chi Minh City and entered the fresh beverage market by forming a joint venture with Vinamilk. The Vibev joint venture between KIDO and Vinamilk aims to hold the No. 1 position in terms of market share in the fresh water industry after 5 years of operation.

In 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.

Henry Tran - VietnamCredit


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