Currently, there are about 6000 processing food companies in Vietnam. most of the market share, however, is held by large enterprises.
In this article, VietnamCredit will provide detailed information about 15 major processed food companies in Vietnam by fields of operation including processed seafood and meat, processed vegetables and ready-to-eat foods.
Vissan Joint Stock Company was established on November 20, 1970 and went into production and business operations on May 18, 1974. Currently, Vissan is one of the leading enterprises in Vietnam’s food industry, specializing in the production and trading of fresh and frozen meat and processed meat products.
Currently, Vissan provides over 200 product lines that are safe for health and suitable for nutritional balance. The company is supplying the domestic market with 20,000 tons of products/year including canned food, high-class cold meat products, and pasteurized sausages.
In the financial statement for the second quarter of 2021, Vissan recorded revenue of VND 1,129 billion, down 9% compared to the same period last year. However, the sharp decrease in COGS helped the business improve its gross profit by 5% to VND 245 billion.
Vissan's selling and administrative expenses in the same period increased by 9% and 6%, respectively, to VND 156 billion and VND 42 billion. As a result, its profit after tax reached VND 39 billion, down 6%.
In the first 6 months of the year, Vissan recorded revenue of VND 2,340 billion and net profit of VND 77 billion, down 14% and 13% respectively over the same period.
In terms of business lines, Vissan's two main sources of income mainly come from fresh meat products and processed foods. While the net revenue from fresh meat was VND 1,041 billion, that of processed food was VND 1,211 billion.
CJ Cau Tre Food Joint Stock Company (formerly Cau Tre Export Processing Enterprise), a member of Satra (Saigon Trading Group - One Member Limited) was established in 1982.
CJ Cau Tre provides a variety of products made from seafood and agricultural products. The company's processed food products include spring rolls, dumplings, shumai, shrimp paste, etc.
In addition to the domestic market, Cau Tre's products are also exported to many countries around the world including Japan, Korea, Taiwan, Hong Kong, Germany, Italy, Switzerland, the Netherlands, Spain, Portuga, USA, and Canada.
The period of 2015 – 2020 witnessed major changes in the company organizational structure and its name which was changed to CJ Cau Tre Company. CJ Cheiljedang Group holds 71.6% of the controlling shares while Satra only holds only 25%.
Total revenue in 2019 of this enterprise reached VND 5,343 billion, an average growth of 13%/year; export turnover increased by 1.5 times;
Halong Canfoco is a household brand owned by Ha Long Canned Joint Stock Company, formerly known as Ha Long Canned Fish Factory, established in 1957 in Hai Phong with aid from the former Soviet Union. It can be said that the company is the pioneer of the food processing industry in Vietnam.
In June 1977, Ha Long Canned Fish Factory changed its name to Hai Phong Seafood Processing Factory - a member and the basis for the establishment of Ha Long - Hai Phong Seafood Joint Venture Enterprise.
12 years later, the company was renamed to Ha Long Canned Fish Factory with a production strategy focusing mainly on canned products. On August 24, 1994, it was separated from Ha Long Canned Fish Enterprise and became an independent enterprise with full legal status and changed its name to Ha Long Canned Food Company. In March 1996, the Company became a unit of Vietnam Fisheries Corporation (Seaprodex).
In 1996, the company conducted equitization, named Ha Long Canned Food Joint Stock Company and quickly became one of the first companies listed on the stock market. Currently, the company has a staff of nearly 1,000 employees, 8 processing plants and 4 branches nationwide.
The company's food products are diverse, including canned products such as fish, meat, vegetables and fruits, pasteurized sausages or frozen products.
In 2020, this company recorded a revenue of about VND 743 billion, an increase of 29% compared to 2019. As of the end of 2020, Ha Long Canfoco's total assets were VND 397 billion with equity of VND 129, 6 billion.
On September 1, 1983, the company was established on the basis of separating the sales department of Vietnam Seafood Corporation (Seaprodex Vietnam). On 11/01/2002, Special Aquatic Products Joint Stock Company was officially established. The state holds only 18% of shares in this enterprise.
Seaspimex specializes in the production, processing and trading of aquatic and animal products for domestic and export markets. The company's strength is canned products on modern production lines. Currently, Seaspimex branded products are available at all supermarkets, retail stores and distribution agents across Vietnam.
KTC canned food factory (KTCFOOD) was built in 2010, and put into operation in February 2012. The average capacity of the factory is from 80,000 to 100,000 cans/day.
With the advantage that the factory is located on Tac Cau port area, the source of fresh ingredients is always abundant. KTC's factory is equipped with modern and automatic machinery and equipment from Spain and Thailand.
The company specializes in providing oil-soaked and salted tuna products, ketchup and onion sauce, fish mackerel, sardine with tomato sauce and many other seafood products at the request of customers.
Vietnam National Vegetables, Fruit and Agricultural products Corporation - Joint Stock Company (Vegetexco Vietnam) is a large enterprise specializing in the production, processing and import-export business of vegetables and agricultural products. Vegetexco Vietnam branded processed vegetables and agricultural products have been quite popular with domestic and foreign consumers. So far, its products have been present in 58 countries.
With strategic shareholders including T&T Group JSC, Saigon-Hanoi Insurance Corporation and Artexport Hanoi and some other reputable shareholders, Vegetexco Vietnam has many favorable conditions in developing partnerships with domestic and foreign economic organizations.
According to the consolidated business results for the third quarter of 2021, Vegetexco achieved net revenue of nearly VND 84 billion, down slightly by 2% over the same period; 9 months' accumulated net revenue reached more than VND 1,371 billion, down 53%. Net cash flow from operating activities of the company was more than VND 1,788 billion negative, while in the same period it was more than VND 174 billion positive.
Vegetexco's current liabilities are more than VND 961 billion, of which short-term debt is more than VND 565 billion, and long-term debt is more than VND 395 billion.
In the asset structure, short-term assets account for more than VND 2,841 billion, long-term assets are just over VND 986 billion. In addition to short-term receivables of more than VND 2,357 billion, the company has an inventory of nearly VND 79.4 billion.
Established on December 26, 1955, Dong Giao Foodstuff Export Joint Stock Company (DOVECO) is one of the leading agricultural product processing enterprises in Vietnam.
With a cultivation area of more than 5,500 hectares, intensive farming of many tropical vegetables and fruits including pineapple, citrus, papaya, longan, chili, peanut, the company provides several processed canned vegetables and fresh fruit products.
Financial report of the company shows that its revenue grew strongly in the period from 2015 to 2020. In 2020, revenue reached VND 1,950 billion. Although Vietnam's economy was heavily affected by the Covid-19 pandemic, the company still experienced a growth of 230% and was the leading company in Vietnam in terms of fruit and vegetable export turnover to the EU market.
Established in 1977, Tien Giang Vegetable and Fruit Joint Stock Company (VEGETIGI) is now one of the leading manufacturers and exporters of fruit and vegetable products in Vietnam. VEGETIGI offers a wide range of products: concentrated fruit juices and purees packed in sterile bags, IQF frozen processed fruits, frozen whole fruits, canned fruit products, and some other food products.
VEGETIGI owns 3 processing factories including a fruit canning factory with a capacity of 10,000 tons of finished products/year, a fruit and vegetable freezing plant with a capacity of 5,000 tons of finished products/year, and a juice concentrate and puree plant with a capacity of 5,000 tons of finished products/year. In addition, VEGETIGI also exports more than 10,000 tons of fresh fruit/year.
VEGETIGI is located in the largest fruit area in Vietnam. The company also has its own farm of 2,081 hectares growing pineapples with a yield of up to 35,000 tons of pineapple material per year. Products by VEGETIGI are being exported to major markets including the EU, the United States, Japan, Korea, Taiwan, Russia.
The predecessor of this company was a fried peanut processing facility, established in 1984. 1997 marked an important milestone of the company when it constructed a new factory and office in Binh Duong province with an area of over 45,000 m2. Since then, the company has expanded its business scale with more than 140 distributors and more than 40,000 retail points, accounting for 80% of the market share.
The products of Tan Tan has successfully been exported to major markets in the world such as the US, Korea, China, Nigeria, and Cuba.
With the aim of ensuring output and product quality, Tan Tan has been investing in supporting the supply of new bean varieties to farmers in localities such as Binh Duong, Cu Chi, Tra Vinh and Nghe An. This also gives farmers more peace of mind about crop yields after each harvest before delivering products to the factory.
Giavico International Food Company Limited is one of the leading manufacturers of fresh fruit juices, juice concentrates, granular products in Vietnam.
Established in 1992, in 2008 the company put into operation a factory in Long An province to expand production and strengthen its competitiveness. With an area of 12 hectares and more than 1200 employees, the factory can handle more than 600 tons of raw vegetables and fruits every day.
Acecook Vietnam Joint Stock Company was established with 100% Japanese capital in 1993 in Ho Chi Minh City and officially came into operation in 1995. Currently, Acecook Vietnam is a giant in the fast-moving consumer goods (FCMG) industry in Vietnam with a market share of about 50%.
The company is well-known for its Hao Hao noodle brand. After nearly 30 years of establishment and development, Acecook has brought Hao Hao noodles to more than 47 countries and territories around the world.
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), VND 9,829 billion (in 2018) and reached the milestone of VND 10,648 billion (2019). .
Its 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. With such results, compared with other large players in the same field, the value of Acecook could be approximately 1 billion USD.
Masan Consumer Corporation (Masan Consumer) was established in 1996 by businessman Nguyen Dang Quang. The main area of expertise of this company is the production and distribution of food and beverage products which serve the domestic market and are exported to the United States, Canada, France, Russia, Poland, Japan, and China.
In 2011, Masan Food Joint Stock Company changed its name to Masan Consumer Corporation. At this time, Masan consumer privately issued 10% shares with a value of USD 159 million to the US investment fund Kohlerg Kravis Roberts & Co, thereby valuing the company at USD 1.6 billion.
According to the 2020 annual report, despite the impact of Covid-19, Masan Consumer recorded growth in most categories thanks to the increase in the demand for essential products.
In particular, sales of the convenience food segment grew significantly with 38.5% compared to 2019, reaching a revenue of VND 6,882 billion thanks to the expansion of high-end products. By the end of 2020, Masan Consumer owned 5 brands with revenue of over VND 2,000 billion, namely Chinsu, Omachi, Kokomi, Nam Ngu and Wake-up 247.
On July 5, 1990, Vifood noodle factory was established with 2 production lines. In 1995, Asia Food Company was established with 8 production lines, located in Dong An Hamlet, Binh Duong Province.
In 2003, its factory in An Phu, Binh Duong, with a scale of 35,000 m2 was put into operation. This was the most modern factory in Southeast Asia at that time. In 2011, the factory in Tien Du district, Bac Ninh province with a scale of 57,000m2 came into operation. In 2012, the factory in Hoa Khanh Industrial Park, Da Nang was constructed with a scale of 30,000 square meters.
In January 2017, the largest factory in Nam Tan Uyen, Binh Duong province with a scale of up to 100,000m2 officially went into operation. With 5 large-scale production factories, Asia Food provides more than 4 billion noodle packages a year for domestic and international markets, creating nearly 3,000 jobs for workers.
In 2020, net revenue of Asia Foods reached VND 3,070.6 billion, net profit of VND 408.7 billion.
Uniben Joint Stock Company was officially established on June 1, 1992 with the name Viet Hung Food Industry Co., Ltd., mainly producing instant noodles for domestic and export markets. On September 27, 2014, the company officially changed its name to Uniben Joint Stock Company.
The company provides instant noodles, pho, porridge, fish sauce, and seasoning for domestic market and export. Uniben aims to become a "Multi-product, multi-brand, multi-national" company with instant noodles as the major drive for growth.
Uniben Joint Stock Company's revenue reached VND 2,856 billion in 2020 with a net profit of VND 39.2 billion.
The company was established on July 18, 2003 with the initial name of Saigon Seafood Joint Stock Company (SG Fisco). In 2011, SG Fisco officially changed its name to Saigon Food Joint Stock Company.
From an enterprise with only a transaction office that had to hire an outsourcing factory, Saigon Food has now become a prestigious company in the field of manufacturing and trading frozen marine products and processed foods.
Currently, Saigon Food has a staff of nearly 2,000 people, owns 4 factories producing frozen processed foods and high-class instant foods with a total area of nearly 24,000 m2. In addition, the company also has a cold storage system, modern freezing equipment, a laboratory, and a management system that meets international standards ISO 9001: 2008, HACCP, BRC, Kaizen, SS. Therefore, Saigon Food has actively expanded its products, markets and distribution system.
Saigon Food focuses on instant products such as rice, fresh porridge, noodles. It is known that each year Saigon Food supplies the market with more than 20,000 tons of finished products. In 2019, Saigon Food recorded a total revenue of VND 2,400 billion, and its revenue for the first 6 months of 2020 increased by 20% compared to the same period last year.
Henry Tran - VietnamCredit
