This is the assessment of Mr. Vũ Quang Hùng, Deputy Director of the Institute for Industrial Policy and Strategy (Ministry of Industry and Trade) at the seminar on the Master Plan for the Development of the Food Processing Industry to 2020, with a vision to 2030, organized by the Ministry of Industry and Trade on August 2.

Data from the Institute for Industrial Policy and Strategy (Ministry of Industry and Trade) show that the food processing industry has experienced relatively strong growth in recent years, with a growth rate of over 17% during the 2006 - 2010 period. Among these, confectionery production increased by nearly 35%, monosodium glutamate by 10%, and instant noodles by approximately 10%. The production value of the industry also saw a significant increase, from VND 6,000 billion in 2005 to nearly VND 17,000 billion in 2011.

In addition, the structure of the food processing industry has changed significantly. In 2005, instant noodles accounted for the largest share of the industry at 40%, but by 2011 this figure had decreased to 30%. Meanwhile, confectionery products increased impressively from 20% in 2005 to over 40% in 2011. Notably, the number of confectionery production facilities grew rapidly from 182 in 2005 to 324 in 2011.

Given the growth rate and structural shifts in Vietnam’s food processing industry in recent years, Mr. Hùng assessed that confectionery production will be the fastest-growing sector in the coming time. However, Vietnam’s current confectionery consumption remains below the global average, at only 1.9 kg per person per year, compared to the global average of 2.4 kg.

Domestic confectionery production is divided into three main groups: imports (accounting for 20%), major enterprises (including Kinh Do Group, Hai Ha Confectionery JSC, Bibica JSC, accounting for 42%), and other enterprises (38%).

(Source: stockbiz.vn)