Businesses spice up Vietnamese market
With a population of nearly 100 million and strength in cultivating spice plants, Vietnam has substantial potential for spice production, consumption and export.
According to Nielsen Market Research Company, the Vietnamese seasoning and sauce market expands by an average of 25-32% during the 2016-2022 period. Vietnamese households pose a high demand for seasoning for their meals – and it does take a lot of seasoning to make 30 million litres of soup a day, all the while the amount of fried and stir-fried dishes increases by 18 million plates and 14 million braised dishes during the weekends.
The domestic spice market has lured international groups with products like Knorr (Unilever, the UK), Aji-ngon (Ajinomoto, Japan), Miwon (Taiwan), and Maggi (Swiss-based Nestle).
Fish sauce producers also face a fierce competition with such brands as Thuan Phat, Nam Ngu, Chinsu, Thuy Xua, Lien Thanh, Hanh Phuc, 584 Nha Trang, and Hong Hanh.
Dh Foods, a leading brand of Vietnamese food products, has offered a range of products, including Tay Ninh gourmet seasoning, Nha Trang sweet and sour BBQ sauce, Phu Quoc spice fish sauce and natural marinate for the world famous Pho.
The products are available at commercial centres, supermarkets, convenience stores, e-commerce platforms – Shopee, Lazada and Tiki, to name but a few, and Facebook pages and websites of businesses.
Speaking at a recent online conference, Le Hoang Tai, deputy head of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said the condiments industry has played a significant role in the national economy as well as the country’s export orientations.
Saudi Arabia is one of the largest importers of Vietnamese spices. The Middle Eastern nation consumes many kinds of spices, mainly imported, including from those from Vietnam.