The report provides a comprehensive analysis of the Edible Oil Market in Vietnam. The report covers a wide range of aspects including an overview, genesis, market size, market restraints, segmentation by type (Palm Oil, Soybean Oil, Sesame Oil, Rapeseed Oil & Others), Volume, By mode of sales (Online & Offline) & by type of sales channel (Super Market, Grocery Store, Convenience Store, Local market, Specialised Store). The report also covers comprehensive details on the recent trends & developments, problems & challenges, SWOT analysis and Porter Five Forces Analysis. An elaborated competitive landscape including competitive scenario, cross-comparison matrix, the business value of key players, and market share is also available. The report concludes with the future projections for the above-mentioned market segments & analyst recommendations that involve key strategies for the key players to ensure that they enhance their existing profit levels for the foreseeable future as well as some major suggestions for the potential entrants highlighting the significant opportunities available & some cautions.

Market Overview

Vietnam Edible Oil Market is expected to generate USD ~$ Bn, with high-income consumers planning to purchase more premium products. Currently, the industry is registering an annual CAGR of $% (2021-2026F). Vietnam's Edible Oil Market has been following an upward trend in terms of revenue with a CAGR of $% from 2016-2021 as people are willing to spend higher prices for healthy edible oil

Annual revenue of ~USD $ Billion, with high-income consumers planning to purchase premium products.

In Vietnam, 82.0% of the population prefers low sodium and low-fat edible oil, and 34.0% prefers trans-fat substitution as the risk of death has increased.

Key Trends by Market Segment:

By Type: The entire edible oil market in Vietnam is currently growing at CAGR 7.8% (2016-21) with palm oil dominating the industry capturing a whopping 70% of the market share. Being solid at room temperature, palm oil has a competitive edge against competing ?soft' vegetable oil like soybean, sunflower and rapeseed oils because they can be readily used for semi-solid and solid food applications. Soybean & Coconut Oils together capture a market share of approximately 33% while rapeseed & other oils contribute only 0.6%.

By Volume: In 2020, the refined Vegetable Oil production volume reached around 1.3 Mn tons in Vietnam. The volume of refined Vegetable Oil produced in Vietnam has been increasing yearly. The country needs over 1.5 Mn tons of Cooking Oil each year, but domestic production can satisfy a limited share of the demand & imports must feed the remaining.

By Sales Channel: Vietnam's market for edible oil is dominated by offline sales, however, online sales are predicted to grow over time. Currently, a major portion of the population prefers offline purchases, the main reason being quality checks. People have a feeling of distrust in online stores when it comes to offering them good quality oil & hence they prefer going to the store themselves & then initiating the purchase.

Competitive Scenario

The edible oil market in Vietnam is heavily consolidated, with just three businesses holding a stake of approximately 70% of the market. With a total of 40 companies operating in the market, only a few hold the market share. The key players operating in the ecosystem are, Calofic, Tuong An, Kido Nha Be, Vocarimex & others. The largest market share is currently controlled by Calofic accounting for almost 40% of the same.

Future Outlook

Vietnam's Edible Oil Market is expected to generate USD~$ Bn, 2027F, with high-income consumers planning to purchase more premium products. The market will operate at a CAGR of $%(2021-26F) with online sales probably picking up the pace. Farm mechanization & proper government policies are some of the factors that can help the edible oil market in Vietnam to witness robust growth.