On September 23, Vietnam Report Joint Stock Company (Vietnam Report) officially announced the Top 10 prestigious companies in the Food and Beverage industry in 2022.

The top 10 prestigious Food and Beverage companies in 2022 are built on scientific and objective principles. Companies are evaluated and ranked based on 3 main criteria: (1) Financial capacity shown in the latest year’s financial statements (2) Media reputation is assessed by the Media Coding method. publish articles about the company on influential media channels; (3) a Survey of research subjects and stakeholders: consumers, experts… was conducted in August 2022.

List 1: Top 10 prestigious food companies in 2022 – industry group: Milk and dairy products

List 2: Top 10 prestigious food companies in 2022 – industry group: Sugar, confectionery, and other nutritious foods

List 3: Top 10 prestigious food companies in 2022 – industry group: Packaged food, spices, cooking oil

List 4: Top 10 prestigious food companies in 2022 – industry group: Fresh and frozen food

List 5: Top 10 prestigious beverage companies in 2022 – industry group: Alcoholic beverages

List 6: Top 10 prestigious beverage companies in 2022 – industry group: Non-alcoholic beverages (beverage, tea, coffee…)

As the only Asian country whose GDP growth forecast has been raised by the International Monetary Fund (IMF) in 2022, Vietnam is a rare bright spot in the gloomy global economic picture. and a strong recovery from the fourth wave of the COVID-19 pandemic. The recovery occurred in almost all economic sectors, including the Food and Beverage (F&B) industry. A survey by Vietnam Report conducted in August 2022 shows that nearly 90% of enterprises in the industry have achieved over 80% of their pre-pandemic productivity, even over 60% of them have exceeded pre-pandemic levels.

The survey also showed that the revenue of the F&B industry improved positively in all distribution and consumption channels. The most notable is the breakthrough of the traditional channel (General Trade – GT) with 85.7% of businesses recording revenue growth, up 62.6% over the same period last year. Modern channels (Modern Trade – MT) such as supermarkets, hypermarkets, convenience stores, and e-commerce continue to maintain growth momentum. On-premises channel also showed a strong recovery (+30%).

Source: Vietnam Report, Summary of the Food and Beverage Industry Survey, August 2021 and August 2022

The growth momentum of the F&B industry in the recent period comes from two main sources: the recovery of domestic consumption demand and the trend of shifting from traditional to modern channels shaped by young people, especially According to research, the majority of young people in big cities buy food and drinks through modern channels: supermarkets, hypermarkets (98%), online (67%). and convenience stores (41%).

Assessing the industry outlook in the last months of 2022, the majority of enterprises participating in the Vietnam Report’s survey were optimistic compared to a year ago. 94.4% of businesses think that the second half of the year will be better, 4.3 times higher than 21.7% of the previous year. According to Mordor Intelligence Inc. Recently, the compound annual growth rate (CAGR) of the food service industry could reach 8.5% in the period 2022-2027. This shows the market potential to explode in the next normal period when before the pandemic, the CAGR for the period 2021-2025 is forecast at 4.98%.

Source: Vietnam Report