Vietnam sees flourishing food and beverage industry

ABO/VNA - Vietnam, a market of 93 million people, is seeing rapidly growing consumer demand for food and beverage (F&B) products, offering ample space for the F&B sector to expand.

The Ministry of Industry and Trade estimated Vietnam’s annual consumption of food and drink products accounts for about 15 percent of GDP and this rate will rise in the future.

The Business Monitor International forecasts that the sector will be one of the strongest growers in Asia and will grow by 16.1 percent between 2016 and 2019

People living in big cities have greater and more diverse demand for food and drink products, from healthy and natural products to fast foods, making the F&B sector more appealing to both domestic and foreign investors.

Today, consumers are willing to pay more for products that are healthy, have natural origins and are environmentally friendly.

With a thriving economy and people’s improving income, the country can become one of the largest markets of food and drink products in Southeast Asia.

(Source: VNA)