Vibev makes official debut in Vietnam's beverage market
Vibev makes official debut in Vietnam's beverage market
Vibev, the joint venture between Kido and Vinamilk, has just rolled out Oh Fresh fresh corn and green bean milk products, making its first foray into Vietnam's beverage market.
This marks the long-awaited rollout of Vibev's products after lengthy delays caused by the COVID-19 pandemic. The products are present at more than 300,000 points of sale nationwide, including supermarkets, mini supermarkets, convenience stores, grocery stores, restaurants, and e-commerce platforms.
According to Mai Xuan Tram, general director of Vibev, Vietnam's beverage industry has grown steadily by 8-10 per cent in recent years. In particular, the non-carbonated beverage segment has posted higher growth rate with about 10-12 per cent.
"The non-carbonated beverage industry is more promising than the carbonated one as Vietnamese consumers have become more health-conscious. Meanwhile, the majority of fresh drink suppliers have small scale and limited technology," he added.
Vinamilk has more than half of Vietnam’s dairy market, while Kido leads the ice cream market with a 41 per cent share, according to figures from market research company Euromonitor International.
Riding on the synergy of Kido and Vinamilk, Vibev aims to take the lead in terms of market share in the fresh drink sector with an annual output of 150 million bottles after five years of operation.
After the launch of the first two products, Vibev's research and development team will continue to develop new ones with shelf lives of over 14 days.
Vibev is oriented to operate in the industry of fresh natural, healthy drinks with short shelf life. The total initial investment of the company is estimated at VND400 billion ($17.6 million) in the first phase, with Kido holding 49 per cent and Vinamilk 51 per cent.
