Sector Industrial Reports | [Food and Beverage]

[Food and Beverage] - The recovery of consumption

15/01/2025

Summary

Tightened spending remained a prominent feature in 2024 when FMCG growth showed decline and only recovered since Q3. However, the long-term outlook opens up many bright opportunities for the F&B sector in Vietnam.
We assess the prospects of the Food and Beverage industry in 2025 as follows: (1) Sugar industry: Sugar price is projected to maintain at a high level and support profits for companies in sugar industry; (2) Beer industry: Increasing excise tax may affect business results in the short term but will soon recover; (3) Dairy industry: Projected to grow at the compound rate of 4.1%/year until 2028 while the rise of imported raw materials will soon fade.
For 5 companies we monitor in the F&B sector, we forecast total revenue and net profit growth in 2025 to reach 5.7% YoY and 9.2% YoY respectively, and recommend investment opportunities for stocks including VNM, SAB, QNS, MSN.

Back to list page See details

Sector

Food & Beverage