The Future Is Very Promising For Vietnamese Confectionist

According to the latest figures from the United Nations (UN – United Nations), The population of Vietnam as of July 4, 2021 is 98,176,244 people which is account for 1.24% ranked as the 15th most populous country in the world, with a young population of 32.9 age on the average and a population growth of 1.1 per cent per year, Vietnam has a huge number of potential consumers for confectionery products demand.

The Vietnamese population density is currently 317 people/km² with a total land area of 310,060 km². In which, 37.34% of the population lives in urban areas (36.346,227 people in 2019 to be precise) and the number tend to increase to 50% in the next 15 years. The increase in urban population will accelerate the speed of urbanization which enables confectionery manufacturers or confectionery traders easily approach much more customers since the demand and consumption level of confectionery in urban areas is always high and tends to increase continuously.

The disposable income in Vietnam is expected to grow up to 8.1 per cent in the next three years, which will further drive the product consumption demand. As we can see what experienced from other countries such as Malaysia, Thailand and China, the general economic development has a strongly positive effect on confectionery market and Vietnamese confectionery market has been seen on the same development road.

The Vietnamese Consumers are now tending to lower-sugar, better-quality products due to better health awareness, so the consumption of low-sugar confectionery products is increasing uptrend. The growth rate of low-sugar confectionery is at more than 8% per year. Oatmeal is a promising product that has a lot of potential for development in the near future due to its health benefits, low sugar and full of nutrients.

Vietnamese consumers are not only looking for delicious, quality products, coming from some typical and reliable domestic brands, but also quality imported ones, which helps promote not only Domestic confectionery manufacturers have developed more than half, but also opened up new opportunities for confectionery importers, creating healthy competition in the confectionery industry in general. However, local firms should have advantages in understanding local taste and product preferences leading to a targeted positioning of their brands.

As one of the pioneers in the confectionery industry in Vietnam, with more than 20 years of experience in confectionery production, Richy Vietnam has successfully conquered the diverse needs from of domestic customers, affirming its position on the domestic confectionery market. Richy  always bringing the quality to our products, trusted and loved by millions of Vietnamese.

In particular, we have been successfully researching and launching healthy products such as Chocolate Oatmeal. One of the achievements we have achieved is this product has been a great success in the Korean market, becoming the top trend from 2020, 2021 until now. Following the success in the Korean market, we are promoting Chocolate Oatmeal to other markets such as Japan, USA, China, Europe,…

Richy is quickly expanding production, constantly innovating technology, importing modern production lines to serve production, and catching up with trends and consumer tastes. Up to now, Richy has 3 factories in Vietnam with 140,000 sqm in Hanoi and Tay Ninh to supply products for domestic and international markets. The factories meet the international standards (ISO 22000, HACCP, HALAL,..) with total more than 1,500 employees.

In the domestic market, we achieve success as most of the major supermarket chains in Vietnam distribute our products. And Vietnam National Airlines – Vietnam Airlines has also selected our products as fast meals for customers on their flights. Currently we have a wide chain of distributors throughout Vietnam. In 2020, we are also honored to achieve  Vietnam National Brand.

In overseas markets, we have some success in Southeast Asian markets as well. We have also gradually moved to some fastidious markets, such as Korea, Japan, Australia, New Zealand, UAE, Russia. With our efforts, our products have been distributed in these countries. Richy’s products are exporting to more than 30 countries, bringing Vietnamese confectionery all around the world.

Winning formula helps Richy Vietnam conquer customers

– Increase investment in market research, research on consumer behavior and tastes, to better understand tastes and preferences in the future. Leverage researched information to think strategically regarding product development and innovation, creating innovative and relevant products for each relevant consumer segment.

– Constantly seeking and creating competitive advantages in the distribution area. We keep seeking to establish and create long-term relationships from a nationwide distribution network based on brand reputation, product and service quality.

– Investing in marketing, creating strong brands by developing brands with clear value orientations and targeting a specific customer segment. Richy’s leading cake brands can be mentioned as Chocolate Oatmeal, Butter Cookies, Coconut Biscuit,.. Which have been successfully conquered the most demanding customers.

– Constantly researching and expanding both domestic and foreign markets, gradually conquering international consumers.