Retail Market in Vietnam to grow by USD 163.49 billion from 2022 to 2027, the market is fragmented due to the presence of prominent companies like 7-Eleven Inc., AEON CO. Ltd. and Berli Jucker Public Co. Ltd., and many more - Technavio

NEW YORK, Sept. 23, 2023 /PRNewswire/ -- The retail market in Vietnam is estimated to grow by USD 163.49 billion from 2022 to 2027, growing at a CAGR of 11.4%. The retail market in Vietnam is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer retail market in Vietnam are 7-Eleven Inc., AEON CO. Ltd., Berli Jucker Public Co. Ltd., Central Group of Company, Central Retail Corp., Charoen Pokphand Foods PCL, Circle K, E Mart Co. Ltd., FPT Retail Joint Stock Co., Lotte Shopping Plaza Vietnam Co. Ltd., Masan Group, MM Mega Market Vietnam, Saigon Union of Trading Cooperatives, and SPAR International. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

Company Offering:

• 7-Eleven Inc. - The company offers retail services through its 7-Eleven Stores.
• AEON CO. Ltd. - The company offers retail services through its Supermarkets business and General Merchandise stores.
• Berli Jucker Public Co. Ltd. - The company offers retail services through Big C Supercenter.
• For details on companies and their offerings – Buy the report!

• Impactful driver- Growing demand for convenience food products

Convenience food products are processed and RTE foods that are cooked partially and require only limited preparation before consumption. The preference for convenience food products is increasing owing to changes in lifestyles and an increase in the number of working women. Unlike home-cooked food, convenience food products are easy to cook and are less time-consuming. Moreover, onvenience foods such as meat and poultry products are rich in nutrition. These factors will fuel the growth of the retail market in Vietnam during the forecast period.

• Key Trend - Urban lifestyles
• Major Challenges - The issues related to logistics and supply chain operations

Market Segmentation

• By Distribution Channel, the offline segment will account for a significant share of the market's growth during the forecast period. Retail giants in Vietnam are competing for market share with a variety of shop formats, such as commercial centers, supermarkets, and grocery and convenience stores. Supermarkets provide items that are more suited for daily needs, such as food items and household appliances. Convenience stores offer everyday products such as groceries, confectionaries, soft drinks, snacks, personal care products, toiletries, and others. Despite the penetration of online channels, physical channels still dominate the retail landscape, which is expected to drive the growth of the offline segment during the forecast period.

Technavio Research experts have provided more insights on the market share of segments - View a FREE Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio

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