Liquid milk, baby formula, sweetened condensed milk… are currently major products Vinamilk continues to maintain its leading position according to the market report of Nielsen Vietnam (Nielsen IQ) in 2021.
In the general picture, which is the increasing competition in the dairy market in recent years, along with the Covid wave in the past 2 years, Vinamilk is still firmly in the leading position in major industries and also the The industry contributes a large proportion to the revenue of this enterprise.
Specifically, according to the results recorded from 01/2021 to 12/2021 by Nielsen IQ, Vinamilk is the leading manufacturer in liquid milk, sweetened condensed milk, drinking yogurt in terms of volume and sales. out, and lead the infant formula industry in terms of volume.
Vinamilk leads the market in liquid milk, baby formula, sweetened condensed milk
If sweetened condensed milk is said to be a very difficult product to “usurp” Vinamilk with the big brands that have a strong foothold, Ong Tho and Phuong Nam Star, then liquid milk and baby formula are the main products. witnessing extremely fierce competition with hundreds of new products launched every year.
However, with the results of this market report for 2021, it can be seen that the giant of the dairy industry is still stabilizing. It is impossible to ignore the main factor that gives Vinamilk its strength is its huge system of factories and farms. In Vietnam, the system includes 13 large factories and 160,000 dairy cows, giving this enterprise a production capacity that is hard to keep up with. The leader of this business once shared, this is also a factor that helps them overcome the period of social distancing to ensure the supply of goods, supply and distribution.
Besides, Vinamilk owns a distribution system of “terrible”, covering all channels with more than 250,000 points of sale in both traditional and modern channels, including more than 200 exclusive distributors.
In addition, in the past year, the Vietnamese Milk Dream chain has received strong investment from this enterprise, opening 120 new stores and bringing the total number of stores at the end of the year to nearly 600. By the end of 2021, the channel Online sales recorded a 3-fold increase in revenue over the same period, partly due to this trend increasing during the pandemic and also from the foundation that Vinamilk has invested in for many years.
Vinamilk’s online sales website giacmosuaviet.com.vn
In terms of products, Vinamilk can be said to be the most complete company in terms of product portfolio, with more than 250 product categories in nearly 20 product categories. Not only includes a full and diverse range of fresh milk, eating/drinking yogurt, nut milk, beverage, and ice cream, but in big industries such as powdered milk, the Vinamilk brand has also covered the needs of children. , pregnant women, adults, special treatment lines…
Large production capacity, strong distribution combined with a diverse product portfolio that can be called a “triple set” have helped Vinamilk maintain its leading position for many years on the “race track” of more and more participants. domestic dairy industry.
The market measure is more clearly reflected in the Kantar Worldpanel report, in 2021, in urban areas, the consumption rate of Vinamilk products will reach 99% of households, while in rural areas, this number will be approximately approx 90%. It can be understood that 9 out of 10 households in Vietnam use at least one Vinamilk product. In particular, this rate in urban areas is almost absolute when up to 99%, this is also an area with very strong growth in dairy product consumption in recent years.
Vinamilk products are present in most Vietnamese families
At the end of 2021, although there were many unfavorable forecasts due to the general situation, Vinamilk’s total consolidated revenue still reached a new peak when it surpassed the milestone of VND 60 trillion, specifically reaching VND 61,012 billion, an increase of 2. 2% over the same period. In particular, the fourth quarter of 2021 alone witnessed a strong breakthrough when the revenue growth rate was 10%, the fastest quarterly growth in nearly 5 years. This revenue record is contributed from all 3 segments: domestic, export and foreign branches.
Also according to the Annual Report 2021 just announced by Vinamilk, by the end of November 2021, Vinamilk’s market share of the whole dairy industry increased by 0.9% in value, which can be said to be an impressive increase for an enterprise that has been currently occupy the largest market share, especially after a year of witnessing many big fluctuations because of the pandemic.
Faced with unpredictable developments due to general fluctuations, Vinamilk is quite cautious when setting an average growth target of more than 7% per year in the next 5 years, specifically by 2026, Vinamilk expects to reach VND 86,200 billion total revenue and 16,000 billion dong pre-tax profit. However, the market results have also shown the firm’s solid foundation in the business and given rise to positive expectations.
Source: CafeF
Source: Vietnam Insider