The lists were built based on three main criteria – financial capacity reflected in the latest financial reports, media reputation, and results of an August survey of companies and stakeholders including consumers and experts.
Regarding the dairy and dairy product group, companies that made the top-ten list consist of the Vietnam Dairy Products JSC (Vinamilk), Frieslandcampina Vietnam Co. Ltd, Nutifood Nutrition Food JSC, International Dairy Products JSC (IDP), VitaDairy Vietnam JSC, Moc Chau Dairy Cattle Breeding JSC, Kido Frozen Foods JSC, Mead Johnson Nutrition (Vietnam) Co., Ltd, Nutricare Nutrition JSC, and Zott Vietnam Co., Ltd.
Other groups include sugar-candy-nutritional product, condiment-spice-cooking oil, alcoholic beverages, and non- alcoholic beverages.
General Director of Vietnam Report Vu Dang Vinh said in the context of slowing global economic growth, the food and beverage industry is facing multiple challenges.
According to Vietnam Report's survey, due to the risk of an economic downturn affecting consumer purchasing power, the proportion of firms reporting increased revenue decreased by 3.9% from 2022.
In 2023, the proportion of food and beverage companies maintaining revenue growth has decreased across most distribution channels. However, the e-commerce channel continued to demonstrate relatively stable growth compared to the overall market and is the only channel that did not report a revenue decline. Up to 90% of companies with e-commerce operations said they posted revenue growth compared to the same period last year.