Vietnamese confectionery businesses have upgraded production technologies to improve quality and efficiency, and developed new product lines to retain market share at home and also boost exports amid fierce competition.
Vietnam’s mergers and acquisitions market is abuzz in food and beverages, as well as in consumer goods, as the competitive landscape evolves and rivals reshape their portfolios.
Business Monitor International (BMI) forecasts $1.76 billion in revenue for the Vietnamese confectionery industry in 2018. To take control of this market, firms have set out grand strategies for the Lunar New Year.
With the theme “Better food, better life,” Vietnam Foodexpo 2017 continues to promote the overall dynamic development of the Vietnamese food industry.
A new full-moon season starts in one month and confectioneries nationwide are ready with many kinds of mooncakes with new flavours.
PAN Food Manufacturing JSC (PAN Food) successfully acquired more than 50% of Bibica Corporation (Bibica)’s stakes, overtaking Lotte Confectionery Co., Ltd. (Lotte) as the biggest shareholder and turning Bibica into a subsidiary.
The Bibica Corporation, a leading confectionery firm in Vietnam, has set targets of VND1.4 trillion (US$61.5 million) in revenues and VND86.6 billion (US$3.8 million) in after-tax profits in 2017.
Two major state-owned confectionery firms, Huu Nghi and Hai Ha, recently transferring to private ownership is expected to pave the way to becoming market leaders.
Market observers see a positive outlook in the long term for Vietnamese confectionery exports.
Confectionary makers are ready to supply plentiful, quality products at reasonable prices during Tet (Lunar New Year) that falls in early February this time.
(VOV) - The Ministry of Planning and Investment (MPI) recently unveiled that as of December 31, 2014 it had approved 930 outward foreign direct investment (FDI) projects registered at VND14.85 billion.
Although the Full-moon Festival for children is a month away, the moon cake market is beginning to heat up with new eye-catching designs and a steady consumer purchasing power.