Vietnam Retail market is set to grow at a CAGR of 11.4% from 2022 to 2027, Rapid urbanization to be a key trend - Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The retail market in Vietnam is estimated to increase by USD 163.49 billion from 2022 to 2027, according to Technavio Research. The market is estimated to grow at a CAGR of 11.4% during the forecast period. Moreover, the growth momentum will accelerate. Rapid urbanization will be a key trend in the market. This is leading to changes in demands from young customers, resulting in the penetration of contemporary retail channels such as convenience shops and quick e-commerce. In addition, retailers are leveraging factors such as a significant increase in the penetration of the internet and smartphones to sell their products online. Moreover, formats such as tiny supermarkets cater to the hectic urban lifestyles of consumers. Such factors will support market growth during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Retail market in Vietnam - Segmentation assessment
Segment overview

Technavio has segmented the market based on distribution channel (offline and online) and type (grocery, electronics and appliances, home and garden, health and beauty, and others). 

• 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.

Insights on the market contribution of various segments, Historic Period (2017-2021) and Forecast Period(2023-2027) - Download a sample report

Retail market in Vietnam – Market dynamics
Key factor driving market growth

• The growing demand for convenience food products is driving market growth.
• 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, convenience 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.

Major challenges hindering the market growth

• Issues related to logistics and supply chain operations are hindering market growth.
• Vietnam's supply chain infrastructure is still developing.
• Back-end processes involved in supply chain management operations involve functions such as the acquisition of products, warehouse management, packaging, inventory management, distribution, and merchandising of products.
• However, these processes involve significant expenditure.
• They also include costs for back-end support for IT, infrastructure management, and customer support.
• Therefore, managing multiple tasks related to transportation and supply is complex, and the risk of product damage adds to the complexity.
• These factors will hinder the market growth during the forecast period.

Insights on market drivers & challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the retail market in Vietnam between 2023 and 2027
• Precise estimation of the size of the retail market in Vietnam and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on Vietnam: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on Vietnam: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Retail market in Vietnam 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Retail market in Vietnam 2017 - 2021 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 16: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.3 End-User Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – End-User Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 25: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 27: Chart on Comparison by Distribution Channel
• Exhibit 28: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 29: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 33: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 37: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 38: Chart on Type - Market share 2022-2027 (%)
• Exhibit 39: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 40: Chart on Comparison by Type
• Exhibit 41: Data Table on Comparison by Type

• 7.3 Grocery - Market size and forecast 2022-2027
• Exhibit 42: Chart on Grocery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Grocery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Grocery - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Grocery - Year-over-year growth 2022-2027 (%)

• 7.4 Electronics and appliances - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Electronics and appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Electronics and appliances - Year-over-year growth 2022-2027 (%)

• 7.5 Home and garden - Market size and forecast 2022-2027
• Exhibit 50: Chart on Home and garden - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Home and garden - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Home and garden - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Home and garden - Year-over-year growth 2022-2027 (%)

• 7.6 Health and beauty - Market size and forecast 2022-2027
• Exhibit 54: Chart on Health and beauty - Market size and forecast 2022-2027 ($ billion)
• Exhibit 55: Data Table on Health and beauty - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Chart on Health and beauty - Year-over-year growth 2022-2027 (%)
• Exhibit 57: Data Table on Health and beauty - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027
• Exhibit 58: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 59: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 61: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 62: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 64: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 65: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 66: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 67: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 68: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 69: Matrix on vendor position and classification

• 11.3 7-Eleven Inc. 
• Exhibit 70: 7-Eleven Inc. - Overview
• Exhibit 71: 7-Eleven Inc. - Product / Service
• Exhibit 72: 7-Eleven Inc. - Key offerings

• 11.4 AEON CO. Ltd. 
• Exhibit 73: AEON CO. Ltd. - Overview
• Exhibit 74: AEON CO. Ltd. - Business segments
• Exhibit 75: AEON CO. Ltd. - Key offerings
• Exhibit 76: AEON CO. Ltd. - Segment focus

• 11.5 Berli Jucker Public Co. Ltd. 
• Exhibit 77: Berli Jucker Public Co. Ltd. - Overview
• Exhibit 78: Berli Jucker Public Co. Ltd. - Business segments
• Exhibit 79: Berli Jucker Public Co. Ltd. - Key news
• Exhibit 80: Berli Jucker Public Co. Ltd. - Key offerings
• Exhibit 81: Berli Jucker Public Co. Ltd. - Segment focus

• 11.6 Central Group of Company 
• Exhibit 82: Central Group of Company - Overview
• Exhibit 83: Central Group of Company - Product / Service
• Exhibit 84: Central Group of Company - Key news
• Exhibit 85: Central Group of Company - Key offerings

• 11.7 Central Retail Corp. 
• Exhibit 86: Central Retail Corp. - Overview
• Exhibit 87: Central Retail Corp. - Business segments
• Exhibit 88: Central Retail Corp. - Key news
• Exhibit 89: Central Retail Corp. - Key offerings
• Exhibit 90: Central Retail Corp. - Segment focus

• 11.8 Charoen Pokphand Foods PCL 
• Exhibit 91: Charoen Pokphand Foods PCL - Overview
• Exhibit 92: Charoen Pokphand Foods PCL - Business segments
• Exhibit 93: Charoen Pokphand Foods PCL - Key news
• Exhibit 94: Charoen Pokphand Foods PCL - Key offerings
• Exhibit 95: Charoen Pokphand Foods PCL - Segment focus

• 11.9 Circle K 
• Exhibit 96: Circle K - Overview
• Exhibit 97: Circle K - Product / Service
• Exhibit 98: Circle K - Key offerings

• 11.10 E Mart Co. Ltd. 
• Exhibit 99: E Mart Co. Ltd. - Overview
• Exhibit 100: E Mart Co. Ltd. - Product / Service
• Exhibit 101: E Mart Co. Ltd. - Key offerings

• 11.11 FPT Retail Joint Stock Co. 
• Exhibit 102: FPT Retail Joint Stock Co. - Overview
• Exhibit 103: FPT Retail Joint Stock Co. - Product / Service
• Exhibit 104: FPT Retail Joint Stock Co. - Key offerings

• 11.12 Lotte Shopping Plaza Vietnam Co. Ltd.
• Exhibit 105: Lotte Shopping Plaza Vietnam Co. Ltd. - Overview
• Exhibit 106: Lotte Shopping Plaza Vietnam Co. Ltd. - Product / Service
• Exhibit 107: Lotte Shopping Plaza Vietnam Co. Ltd. - Key offerings

• 11.13 Masan Group 
• Exhibit 108: Masan Group - Overview
• Exhibit 109: Masan Group - Product / Service
• Exhibit 110: Masan Group - Key offerings

• 11.14 MM Mega Market Vietnam 
• Exhibit 111: MM Mega Market Vietnam - Overview
• Exhibit 112: MM Mega Market Vietnam - Product / Service
• Exhibit 113: MM Mega Market Vietnam - Key offerings

• 11.15 Saigon Union of Trading Cooperatives 
• Exhibit 114: Saigon Union of Trading Cooperatives - Overview
• Exhibit 115: Saigon Union of Trading Cooperatives - Product / Service
• Exhibit 116: Saigon Union of Trading Cooperatives - Key offerings

• 11.16 SPAR International 
• Exhibit 117: SPAR International - Overview
• Exhibit 118: SPAR International - Product / Service
• Exhibit 119: SPAR International - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 120: Inclusions checklist
• Exhibit 121: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 122: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 123: Research methodology
• Exhibit 124: Validation techniques employed for market sizing
• Exhibit 125: Information sources

• 12.5 List of abbreviations 
• Exhibit 126: List of abbreviations

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