In spite of the heavy competition between 50 domestic and foreign-ownedinstant noodles producers and manufacturers, Vietnam's instant noodlesmarket continues to flourish.
Kinh Do Group, better known as asweets manufacturer, announced at its shareholder meeting in June thatits first instant noodles product would hit the market by September thisyear, and the company would utilise its existing 200 outlets todistribute this product nationwide.
VnExpress quoted Kinh DoGroup Deputy General Director Tran Quoc Viet as saying thatconfectionery remained the company's core business. However, penetratingthe instant noodles segment, which would continue to grow significantlyfrom now to 2017, would help the company attract more customers.
Phan Thi Tuyet Mai, General Director of TMTM, a producer of supplementfoods and nutritional drinks in HCM City, agreed that there wasuntapped potential in the local instant noodles market.
Aftermaking its debut in late 2012, her company's Moringa noodles were nowsold at Viet Nam's biggest retail distribution chains such as SaigonCo.op Mart and Big C, Mai told vnExpress, adding that her company'sproduct was exported to European Union (EU) markets as well.
Not just nutritional food and confectionery manufacturers, but largesupermarkets have also realised the attractiveness of the instantnoodles market.
Two large supermarkets, Saigon Co.op Mart and Big C have launched their own instant noodles products.
"Instant noodles are favoured by many Vietnamese. Thus, we wanted tocreate our own product selling at affordable prices for the domesticmarket, and consumption power of our product has been increasingslightly," Saigon Co.op Mart Deputy General Director Nguyen Thanh Nhansaid to VNExpress.
"If the market continues to run well in future, we plan to produce a new kind of instant noodles," he said.
The latest report of the World Instant Noodles Association (WINA)revealed that Vietnam is the world's fourth-largest consumer of instantnoodles, purchasing roughly 5.4 billion packets yearly.
Thecountry ranks behind China, Indonesia and India in the annualconsumption of instant noodles. However, when ranked on the basis of percapita consumption, it comes third behind the Republic of Korea andIndonesia. A Vietnamese person consumes an average of 56.2 packets peryear while the figure for a Chinese person stands at 36 per year.
Vietnam's instant noodles consumption has grown at a consistentdouble-digit rate and the demand continues to rise in both urban andrural areas.
In Vietnam, the demand increased by nearly 24percent between 2008 and 2012, while the rate stood at 3 percent inChina and Indonesia and 5 percent in the Republic of Korea and Japan forthe same period.-VNA
Kinh Do Group, better known as asweets manufacturer, announced at its shareholder meeting in June thatits first instant noodles product would hit the market by September thisyear, and the company would utilise its existing 200 outlets todistribute this product nationwide.
VnExpress quoted Kinh DoGroup Deputy General Director Tran Quoc Viet as saying thatconfectionery remained the company's core business. However, penetratingthe instant noodles segment, which would continue to grow significantlyfrom now to 2017, would help the company attract more customers.
Phan Thi Tuyet Mai, General Director of TMTM, a producer of supplementfoods and nutritional drinks in HCM City, agreed that there wasuntapped potential in the local instant noodles market.
Aftermaking its debut in late 2012, her company's Moringa noodles were nowsold at Viet Nam's biggest retail distribution chains such as SaigonCo.op Mart and Big C, Mai told vnExpress, adding that her company'sproduct was exported to European Union (EU) markets as well.
Not just nutritional food and confectionery manufacturers, but largesupermarkets have also realised the attractiveness of the instantnoodles market.
Two large supermarkets, Saigon Co.op Mart and Big C have launched their own instant noodles products.
"Instant noodles are favoured by many Vietnamese. Thus, we wanted tocreate our own product selling at affordable prices for the domesticmarket, and consumption power of our product has been increasingslightly," Saigon Co.op Mart Deputy General Director Nguyen Thanh Nhansaid to VNExpress.
"If the market continues to run well in future, we plan to produce a new kind of instant noodles," he said.
The latest report of the World Instant Noodles Association (WINA)revealed that Vietnam is the world's fourth-largest consumer of instantnoodles, purchasing roughly 5.4 billion packets yearly.
Thecountry ranks behind China, Indonesia and India in the annualconsumption of instant noodles. However, when ranked on the basis of percapita consumption, it comes third behind the Republic of Korea andIndonesia. A Vietnamese person consumes an average of 56.2 packets peryear while the figure for a Chinese person stands at 36 per year.
Vietnam's instant noodles consumption has grown at a consistentdouble-digit rate and the demand continues to rise in both urban andrural areas.
In Vietnam, the demand increased by nearly 24percent between 2008 and 2012, while the rate stood at 3 percent inChina and Indonesia and 5 percent in the Republic of Korea and Japan forthe same period.-VNA
