Vietnam Canned Food Market Forecasts from 2023 to 2028

The Vietnam canned food market is projected to witness a compound annual growth rate of 7.52% to grow to US$419.704 million by 2028 from US$252.614 million in 2021.

The Vietnam canned food market is anticipated to grow significantly in the projected period due to multiple reasons such as the rising urbanization, changing consumer lifestyles, increasing disposable incomes, and a growing demand for convenience foods. These factors are driving the preference for canned foods, which offer longer shelf life, easy storage, and quick meal solutions, aligning well with the modern consumer's busy routines. Additionally, the expansion of retail channels, advancements in packaging technology and a focus on product innovation are further contributing to the anticipated growth of the Vietnam canned food market. For instance, as per the World Bank Group, Vietnam is experiencing economic growth, with a steady annual expansion of 2.5-3.5% over the past thirty years. This has resulted into higher disposable income, driving the population towards adopting a more favorable way of life.

Increase In Disposable Income And Digitalization In Vietnam

As disposable income levels rise, consumers are likely to seek convenient and ready-to-eat food options, driving demand for canned products that offer convenience, longer shelf life, and diverse choices. Moreover, the surge in digitalization enhances accessibility to online shopping platforms, enabling manufacturers to reach a broader consumer base and employ targeted marketing strategies. This synergy of factors not only aligns with evolving consumer preferences for convenience and variety but also fosters a competitive landscape that encourages innovation, efficient distribution, and greater market penetration, thereby fueling the expansion of Vietnam's canned food market.

Convenience offered by Canned Meat

One of the pivotal drivers is the convenience that canned meat offers. In a fast-paced world where time is a premium, canned meat provides a swift and hassle-free solution for preparing protein-rich meals. Moreover, the extended shelf life of canned meat products contributes significantly to their popularity. With these products requiring minimal to no refrigeration, consumers can stock up on canned meat for longer periods, reducing the need for frequent grocery shopping. For instance, in 2021, Vissan launched Vissan Pork Luncheon Meat Canned 170G, catering to the demand for easily accessible and enduring protein sources.

Furthermore, as dietary preferences evolve, canned meat presents an attractive alternative for those seeking convenient protein sources beyond traditional fresh meat options. This is particularly relevant in the context of the flexitarian and health-conscious movement, where individuals are exploring ways to balance protein intake while considering ethical and environmental factors.

Segmentation:

By Type

• Organic
• Inorganic

By Product Type

• Canned Meat
• Canned Fish/Seafood
• Canned Fruits and Vegetables
• Canned Beans and Legumes
• Others

By Distribution Channel

• Offline
• Online