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Vietnam among the world’s principal instant noodle consumers

September 28, 2023 by vir.com.vn

Data from WINA estimates that in 2022, China’s national noodle demand amounted to nearly 45 billion servings, followed by Indonesia at 14.2 billion, and Vietnam with 8.48 billion. This means each Vietnamese person consumed an average of 85 packs a year, ranking first globally. The report indicates that the instant-noodle demand among Vietnamese decreased slightly between 2021 and 2022, with the figures down by nearly 1 per cent. However, the 8.6 billion packs sold in 2021 marked an increase of more than 20 per cent compared to 2020. Vietnam is home to about 50 instant noodle producers, offering a diverse range of options and price points. Dominated by four major instant noodle makers, namely Acecook Vietnam, Masan Consumer, Uniben, and Asia Foods, the competition in Vietnam's instant noodle market is becoming fiercer. In 2022, Acecook generated revenues of over $590 million. Annually, it provides the market with more than three billion instant food products each year, making it … [Read more...] about Vietnam among the world’s principal instant noodle consumers

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Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector

September 28, 2023 by vir.com.vn

Bach Hoa Xanh is Vietnam's third-largest grocery chain GIC is among the bidders looking to acquire a stake in Bach Hoa Xanh in a transaction that could increase the grocery chain's valuation to $1.5-1.7 billion. Other bidders include companies from Thailand. The deal is slated to be wrapped up in the first quarter of 2024 if the negotiations are successful, as reported by Reuters . "The deal is nearing the finalising stage and is expected to close soon," a source with knowledge of the matter said. Mobile World said, "Information will be announced once the deal is concluded. The company is still in a private placement and has signed an agreement not to disclose information with interested bidders." Established in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment, runs more than 1,700 stores in Vietnam's southern and south-central provinces. Mobile World has now decided to proceed with the planned sale after putting it on hold earlier this … [Read more...] about Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector

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