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Oct 2013
INDUSTRY INTELLIGENCE
Liquid Milk
IMAS Communication
2
Market Overview
Potential
Young
Dynamic
Over 70% women agree
to buy what children
want
YOUNG AGE
50% under 30
CIVETS Member
GDP Ranking: No.57
ON-GOING
URBANIZATION
Urban: 32%
Rate: 3%
Over 1 Million
Newborns each year
LARGE POPULATION:
Over 92 Millions
Global Ranking: No.14
Vietnam Market
4
Over 1 Million
Newborns each
year
Over 70% women
agrees to buy
what children
want Group 2: KID
05 – 14 YO
Group 1: BABY
< 5 YO
We want fun
We are young
We like trendy
Group 3: TEEN
The main base
in the next
10 years
Group 4:
YOUNG ADULT
Good Quality
than
Expensive price
Group 5: MID-AGE
& SENIOR
Vietnam Target
Consumer Target Buyer Target
5
0 5 10 15 20
Litter of Milk Consumption/ Person
2012 2010 2009 1995
0
10
20
30
40
50
60
2010 2013
Volume Per Buyer
Rural Urban
Consumption
Consumption in Vietnam highly increases year by year, especially in rural areas.
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
200000
400000
600000
800000
1000000
1200000
2013 2014 2015 2016 2017 2018 2019 2020
No. of Milk Cow Capacity (ton) Increase Rate
Supplier Growth Prediction
Supplier capacity is predicted to
increase from 10 -15% per year. But it
still does not meet the demand
46%
20%
7%
27%
2012 Market share
Vinamilk
Friesland Campina
Nestlé
Others
49%
25%
8%
18%
Early 2013 Market Share
Vinamilk
Friesland Campina
TH True Milk
Others
Market share
• Both Vinamilk and Friesland Campina’s market share increases
• Vinamilk still leads the market with about 50% market share.
• TH True Milk positions itself as a potential competitor
NOT ONLY BY PRICE
VIETNAM DAIRY MARKET IS ALSO DRIVEN BY
REAL DEMAND INCREASE
Volume change % (units)
Value change %
RURAL
31 26
15
28 22
15
2010 2011 2012
URBAN 4 CITIES
29
16 15
25
6 10
2010 2011 2012
Monthly Spend/buyer (‘000 VND)
600
500
400
300
200
100
0
540
260
Dairy in the next 3 years
15
21
27
0
5
10
15
20
25
30
2012
Milk Consumption Comparison
Viet Nam Thailand China
Opportunity
Vietnamese Liquid milk market still has many opportunities.
- Consumption is increasing but still lower than other countries in region
- Demand increases in both urban and rural areas
- Consumers are willing to spend more in future
432
217
9
Vinamilk – Market Leader
0
5000
10000
15000
20000
25000
30000
2006 2007 2008 2009 2010 2011 2012
Revenue (Billion VND)
Revenue (Billion VND)
Vinamilk Growth
0
10
20
30
40
50
60
2009 2010 2011 2012 Early 2013
Market Share
Vinamilk
Vinamilk reigns the Liquid Market for years
Vinamilk
Fresh milk
Yoghurt
Drinking Yoghurt
Fermented Yoghurt
Ice-Cream
Cheese
Milk powder for elder
Dielac
Milk powder for mother
Milk powder for baby
Ridielac
Cereal powder for
kid
Vfresh
Soybean Milk
Fruit juice
Smoothie
Atiso tea
Vfresh Aloe Vera
Condense milk
Longevity
Southern star
Vinamilk Brands & Products
- Diverse in products, Vinamilk brands present
in all dairy segments
- 3 main liquid milk products:
- Fresh Milk – Leader of market
- Drinking yoghurt
- Soybean Milk – Having a limited number
of competitors
Fresh milk: Vinamilk also reign market in the diversity of products
•100% Fresh milk - UHT, plain
•100% Fresh milk - UHT, sweetened
•100% Fresh milk - UHT, strawberry
•100% Fresh milk - UHT, chocolate
•100% Fresh milk - UHT, reduced fat, plain
•100% Fresh milk - UHT, reduced fat, sweetened
•100% Fresh milk - Pasteurized, plain
•100% Fresh milk - Pasteurized, sweetened
•100% Fresh milk - Pasteurized, reduced fat, plain
•Vinamilk UHT milk (ADM), sweetened
•Vinamilk UHT milk (ADM), strawberry
•Vinamilk UHT milk (ADM), chocolate
•Vinamilk UHT milk, plain (pouch)
•Vinamilk UHT milk, sweetened (pouch)
•Vinamilk UHT milk, strawberry (pouch)
•Vinamilk UHT milk, chocolate (pouch)
•Unsweetened, high-calcium and low-fat UHT Milk Flex
Vfresh soy Milk – High protein – no sugar
Vfresh soy Milk – High protein – low sugar
Gold soy Milk – 100% natural soy
Vinamilk is one of the limited companies
playing in Soybean milk market
14
Friesland Campina A strong Competitor
0
10
20
30
40
50
60
2009 2010 2011 2012 Early 2013
Market Share Competition
Vinamilk Friesland Campina
Market competition
• Friesland campina lost its market
share gradually till 2012.
• In the early 2013, Friesland
campina’ s market share started to
raise again
Products Not as diverse as Vinamilk products, Friesland Campina focus on fresh milk under the Dutch Lady brand
This year, Dutch Lady releases a new product – “Sưa Chon”. Friesland Campina position “Sưa Chon” as
a different milk in Vietnam Market.
17
Quang Ngai Sugar
Soybean Milk Leader
Product structure
Sugar
Soybean Milk
Confectionery
Other Beverage
Beer
Others
0
200
400
600
800
1000
1200
1400
1600
1800
2000
2010 2011 2012
Soybean Growth compares with Sugar
Sugar Soybean Milk Series 3
Soybean Milk Position
Soybean milk, step by step, plays an important role in
product structure of Quang Ngai Sugar
19
Soybean Milk Products
With 3 lines of product, Vinasoy is the leading
brand in Soybean Market.
Made by Feniceb HT – Account Executive of IMAS Communication Sources: www.kantarworldpanel.com & www.dairyvietnam.com
Thanks for reading!