Vietnam Market Entry Strategy for Foreign F&B Companies
Published: December 2023Vietnam has been rapidly rising as a key Southeast Asian market for a vast range of foreign food and beverage (F&B) products. From dairy and processed meats to fresh fruits and vegetables, Vietnam's 100 million-strong market are consuming any number of new foods and beverages every day. In this edition of Vietnam Briefing Magazine, we delve into the dynamic F&B sector in Vietnam. We provide insights into the essentials of establishing an F&B enterprise in the country, discuss the regulations pertaining to franchising, and offer strategies for selling your products without necessitating a direct market entry.
Vietnam has been rapidly rising as a key Southeast Asian market for a vast range of foreign food and beverage (F&B) products. From dairy and processed meats to fresh fruits and vegetables, Vietnam's 100 million strong market are consuming any number of new foods and beverages every day.
In fact, the Vietnam market is expanding at breakneck speed. Wages are rising, cities are urbanizing, and a new consumer class is emerging eager to spend on eating and drinking.
In addition to this favorable climate, Vietnam boasts over 15 free trade agreements that have effectively lowered trade barriers and tariffs, making it an ideal time for businesses to tap into this growing market.
In this edition of Vietnam Briefing Magazine, we delve into the dynamic F&B sector in Vietnam. We provide insights into the essentials of establishing an F&B enterprise in the country, discuss the regulations pertaining to franchising, and offer strategies for selling your products without necessitating a direct market entry.
The food and beverage industry in Vietnam is currently a hotbed of opportunity. With the right guidance and a thorough understanding of Vietnamese consumer preferences, foreign companies can reap substantial rewards.