Vietnamese enterprise strives to penetrate Latin American market
Vietnamese baking ingredients producer Tan Nhat Huong is joining nearly 300 top global and regional brands at the 17th Mexipan in Mexico City, Mexico from July 31 to August 3.
At Latin America's premier baking industry fair, Tan Nhat Huong is showcasing its signature products, including creams for cake decorating and baking as well as various ingredients used in the process, all of which have already made a mark on the international market.
Its founder and CEO, Vu Thi Hoai Son, stated that Mexico is the fourth American market where the company is expanding its business activities, following successful entrance in the US, Brazil, and Peru – those known for their high standards for imported product quality.
According to her, the participation in the ongoing Mexipan 2024 demonstrates the company's commitment to further penetrating the 650 million-strong Latin American market, including Mexico, the region's second-largest economy with robust economic growth and substantial purchasing power.
Gerardo Zavala Olvera, who oversees the Ta Ma Dulce Sabor bakery chain in Mexico City, expressed his significant impression of the distinctive and fresh flavours of the Vietnamese company's products, especially since they are made from all-natural, health-beneficial ingredients.
Established in 1998, Tan Nhat Huong is currently the second-largest player in Vietnam's cake decorating cream market, holding a 43% market share in 2022. Currently, 65% of its products are consumed domestically, distributed to nearly 10,000 bakeries nationwide. The remaining 35% is exported to demanding markets such as the US, the EU, Japan, and the Republic of Korea.
