A Swiss-based investor group led by Swiss Asia Partner SA has revealed plan to build a US$100 million dairy plant in Tay Ninh Province, tapping into Vietnam’s fast growing milk market.
The group recently met provincial authorities to accelerate the Be Milk factory project at Prodezi Industrial Park. Swiss Asia Partner SA will act as the main investor and oversee market development through a franchise partnership with Sodiaal, owner of the Candia milk brand. The collaboration is expected to apply European standard production processes.
The project, with total investment of around US$100 million will be developed in 2 phases, and will involve several international partners like IPEM Group, Tetra Pak and Takenaka Corporation.
The huge investment aligns with the country’s growing dairy segment which requires the need for quality standardisation.
According to IMARC Group, a market research firm, the dairy (milk) market could reach approximately US$13.37 billion by 2033, with a CAGR of 9.5% between 2025 and 2033. While demand is rising, domestic supply remains limited, creating significant room for growth in dairy processing.
The sector is also seeing strong investment from local firms. In early March, TH Group, known for its popular TH true MILK brand, began construction of a processing plant at Song Than 3 Industrial Park in HCMC, with total investment of more than Dong 6 trillion (US$228 million), covering around 10 hectares and designed capacity of nearly 1 million tons per year.
Per capita consumption of milk in Vietnam is at 32 litres but the government aims to increase the figure to 50 litres by 2030-2045.
Other notable investors in the local dairy market includes Vinamilk which has an annual capacity of around 1.2 billion litres and has invested substantially in a smart factory.
