Domestic, Foreign players vie for share in lucrative Chilled Meat Segment

by asiafoodbeverages
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In Vietnam, domestic and foreign businesses are battling for market share in Vietnam’s US$18 billion chilled meat market.

Presently, the market leader is C.P. Vietnam Corporation, a subsidiary of Thailand-based Charoen Pokphand Foods Public Company Limited (CPF) with 14% share of the market. It reported revenue of US$640 million in its latest 2 quarters. C.P. Vietnam also owns the country’s largest pig herd with 16,000-17,000 heads sold daily. Besides, the firm has invested in its chilled meat distribution system, such as C.P. Shop, Fresh Mart, and C.P. Pork Shop amongst others.

C.P Vietnam is followed closely by Masan MEATLife JSC (Masan), a subsidiary of Masan Group Corporation with 13% share. Masan is hoping to take over C.P Vietnam’s leading position in the market. Since 2018, Masan has put into operations 2 chilled meat processing plants with one in HCMC and another in northern Ha Nam province. It also boasts of more than 1,700 point of sales. Masan target earnings of US$1 billion from chilled meat in 2022.

Meanwhile, foreign players US-based Cargill and Europe’s Heus Group ranked 3rd and 4th in the market with 12% and 9% shares respectively.

GreenFeed Vietnam Corporation holds the 5th position with 8% share. The company has launched over 100 chilled, frozen and processed products and has more more than 6,000 stores, supermarkets, and distributors in HCMC, Hanoi, and surrounding localities carrying its products.

The lucrative market has also seen the entry of new players like Thadi Agriculture Farming Processing & Distribution JSC (THADI) under Truong Hai Auto Corporation, and Agri Hoa Phat Company Limited under Hoa Phat Group.

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