Vietnam Agricultural Market Overview

MARKET SNAPSHOT 
 
Vietnam had  a gross domestic product (GDP) of  US$186.2 billion  in 2014, which is expected to grow by 11.7% in 2015,  
Vietnam  is the  fourteenth-most populous country in the world with  91.6 million people. The population  is expected to reach 94.1 million by 2017.           Annual per capita consumer expenditure was US$1,285 in 2014, with food and non-alcoholic beverages representing US$453 or 35.2% of that total. 
The consumer foodservice industry is expanding alongside a rising middle-class population, and is forecast to reach total value sales of US$60.3 billion by 2018.                                                                                                                                                                                                                               With growing disposable incomes, Vietnamese consumers are seeking products that offer convenience. Packaged food sales continue to grow rapidly, and are expected to reach a value of US$17.2 billion by 2019.  
The top packaged food company in the market is  currently PepsiCo Inc with a 25.1% value share, followed by Tan Hiep Phat Group (17.5%) and JG Summit Holdings Inc (10.6%). 
The agriculture sector employs  47% of the workforce and is estimated at  18.4% of GDP.  Agriculture’s share of economic output is expected to decrease as the country moves toward economic modernization.