Over the forecast period, baked goods is expected to demonstrate a solid total volume CAGR, with growth for both foodservice and retail, which is attributable to the expansion of the urban population, as well as potential for growth consumption in rural areas. Pastries is expected to outperform other categories within baked goods, with the highest total volume CAGR in the forecast period, owing to the wide variety of products available both in retail and foodservice.
Sustainability is expected to have an increasing presence in baked goods in the forecast period, which in part can be attributed to the challenges brought about by climate change, as manufacturers grapple with increasing prices and fluctuating supplies of raw materials. In addition, social responsibility and deepening involvement with local community initiatives can create a favourable brand reputation for a company, by associating it with socially responsible practices.
In the short term, local consumers are expected to continue to grapple with the rising cost of living, as disposable incomes remain constrained by a multitude of factors, including rising electricity prices, and unstable global conditions affecting supply chains. Nonetheless, there are signs pointing towards the stabilisation of disposable incomes; for instance, the minimum wage in Vietnam increased by 6% in July 2024.
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Understand the latest market trends and future growth opportunities for the Baked Goods industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Baked Goods industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Baked Goods
This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: in most cases, baked goods from in-store bakeries are classified under unpackaged/artisanal. While many such offerings may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which are often used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available. Baked goods baked from central bakeries sold unpackaged in other outlets are classified as unpackaged/artisanal. In the specific case of in-store bakery counters (for example, in supermarkets), if baked goods are finished on-site but then packaged (for example, in a box or bag) with a barcode and price, set out in the store for sale in this packaging and sold like any other packaged food product (i.e. a customer takes the packaged item from a shelf) then this is classified as packaged. If however the baked good is finished on-site, displayed unpackaged but then placed in packaging as part of the transaction (i.e. a supermarket worker at an in-store bakery counter/a customer places it in a box/bag after it has been chosen, to allow it to be carried safely) this is still classified as unpackaged.
See all of our definitionsThis report originates from Passport, our Baked Goods research and analysis database.
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