Vietnamese confectionery industry is expected to reach 40,000 billion in revenue

The above figure is said to be quite impressive compared to the revenue of VND 26,000 billion in 2013 and more than VND 27,000 billion in 2014. However, when compared to imported confectionery, the market share of Vietnamese confectionery companies. somewhat inferior.

Imported confectionery still attracts many buyers despite having a higher price of about 10%/product. One of the reasons leading to this situation is that imported products have beautiful packaging designs, diverse categories, good quality, and professional marketing and distribution methods.

However, domestic confectionery enterprises still have certain advantages. It is an opportunity to win the trust of consumers thanks to understanding tastes, culture and consumption habits in the domestic market.

A number of domestic enterprises have quickly taken advantage of this advantage, investing in technology to make products that meet the needs of consumers in terms of quality, hygiene and design, etc. Bibica Joint Stock Company (Bibica) – the unit that holds 8% of the domestic confectionery market share.
Mr. Phan Van Thien, Deputy General Director of Bibica Joint Stock Company said: “For consumers to remember Bibica, each product put on the market must ensure quality, deliciousness, and taste.”

Therefore, for many years, besides focusing on improving the quality of designs and improving product packaging, production technology has always been seriously invested and implemented by Bibica.
In 2017, Bibica officially put into operation the Hifat line at Bibica Bien Hoa factory. This is a candy production line imported from Europe with a total investment value of up to 100 billion VND. With a closed line that meets international standards and is highly automated, Hifat will contribute to increasing the unit’s candy production capacity by 40%. 

Bibica’s representative said that the company is striving to become the largest domestic brand and the market leader by 2020.

Source: Vietnamese confectionery industry is expected to reach 40,000 billion in revenue – Bibica Company.