Instant noodles, it is one of the sustenance foods that every home must have. The role of instant noodles is a symbol of hustle and bustle and cost savings. But for Vietnamese people, the factor that makes them consume more instant noodles is part of the way of life of Vietnamese people has changed. Nowadays, there are many multinational companies investing in Vietnam. Vietnamese people have higher incomes. It is more popular to eat out, to change the atmosphere of the meal or use the restaurant as a meeting place. But when COVID-19 heavy epidemic, restaurants are the top business, ordered to close for social distancing. People were unable to eat like before. Instant noodles ready to brew with various flavors came to play a greater role in the Vietnamese way of life, especially flavors from foreign countries such as Korea, Japan, Thailand, etc., convenient when having to live in the house. The behavior of Vietnamese consumers in consuming instant noodles has a variety of purposes, such as eating when it's urgent. Eat for sustenance in everyday life. Eat to follow the trend. Reduce the complexity of cooking, etc. The price of instant noodles is quite different from 4,500 to 29,000 VND/pack (6-39 baht/pack).

Today, let's get to know the 3 giants of the instant noodle industry that dominate the Vietnamese market.

The market leader in Vietnamese instant noodles is Hao Hao from Japanese company Acecook. who successfully entered the market in Vietnam Previously disappointed in the Vietnamese market due to expensive products. Later, the price was reduced. As a result, sales increased continuously. Because they are better quality instant noodles than the cheaper local brands. until becoming the national noodle of Vietnam It occupies the country's largest market share of instant noodles.

Followed by Omachi and Kokomi from Masan Consumer, a giant of Vietnamese consumer products. It started by selling instant noodles to Vietnamese people in Russia. And expanded its products to soy sauce, chili sauce and fish sauce, and currently owns the CrownX platform in cooperation with Alibaba and Vingroup. meet the needs of consumers and creating a good shopping experience for consumers and a survey by Kantar Worldpanel, a global expert on consumer behavior, found that 98% of Vietnamese people must use at least one product from MASAN Group.

The third one is Mi Gau Do from Asia Food Company, authentic Vietnamese instant noodles which is reputed to be the leader in the country's major ready-to-eat foods with a history of more than 32 years, there are 4 production plants in the country. The company's products are sold in leading stores nationwide. And now has expanded to international markets such as Cambodia, Laos, Taiwan, Korea, the United States, Hungary, Slovakia, Russia and Ukraine, and has occupied the largest instant noodle market in Cambodia. (More than 50% market share)

This is an opportunity for Thai entrepreneurs to expand the instant noodle market to Vietnam. Especially products that have been formulated to be especially healthy, such as free from preservatives and monosodium glutamate, etc. In addition, the taste of Thai food is recognized around the world. Therefore, the opportunity for instant noodles with Thai flavor can enter the market in Vietnam easily meet the needs after the consumption behavior of Vietnamese people has changed according to the era.

Customers interested in doing business in CLMV or Great Mekong Subregion (GMS) countries include Cambodia, Laos, Myanmar and Vietnam. Siam Commercial Bank has overseas branched ready to take care of and provide services. If interested, please contact https://www.scb.co.th/en/corporate-banking/international-network.html

 

Thank you for good information from: Siam Commercial Bank Ho Chi Minh City Branch, Vietnam https://www.scb.co.th/vn/corporate-banking.html

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