Vietnam Edible Oil Market Outlook to 2027

Driven by rising consumer demand rising Consumer Demand, and increasing Health Awareness along with growing Food Processing Industries


Author(s):Shruti Singla and Kartik

Product Code:KR1406

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Published on

January 2024

Total pages


About the Report

About the Report

Market Overview:

The Vietnam edible oil market has witnessed significant growth in recent years, driven by factors such as rising consumer awareness of health benefits associated with edible oils and an expanding population. Palm oil, soybean oil, and sunflower oil are among the most consumed edible oils in Vietnam, catering to various culinary preferences and cooking styles.

Vietnam Edible Oil Market

Vietnam has a mix of domestic production and imports to meet the growing demand for edible oils. The country imports a significant volume of edible oils, including palm oil and soybean oil, to supplement domestic production. Vietnam has a mix of domestic production and imports to meet the growing demand for edible oils. The country imports a significant volume of edible oils, including palm oil and soybean oil, to supplement domestic production.

The Vietnam Edible Oil market ecosystem is comprised of key players contributing to the production, distribution, and consumption of edible oils. Major producers and refineries, such as C.P. Vietnam Corporation, Golden Hope Nha Be Edible Oils Sdn Bhd, and Tuong An Vegetable Oil Joint Stock Company, lead in manufacturing diverse edible oils using both domestic and imported raw materials. Distribution is facilitated by prominent companies like Saigon Trading Group (SATRA) and Tan Nhat Huong Co., Ltd., while retail giants VinMart, Co.opmart, and Big C serve as essential outlets for consumers. Local farmers, supported by suppliers like Hoang Dang Co., Ltd., contribute to the raw material base.

Vietnam Edible Oil Industry

Vietnam Edible Oil Market Size

Vietnam Edible Oil Market Analysis

  • In 2022, cooking oils and fats market was at USD 1.6 Bn and were expected to reach USD 1.9 Bn by 2027
  • Growing busy lifestyle driving demand for processed food and Rising use of high-quality oils and fats are the growth factors pf the market.
  • Advance technology in Vietnam, high capita income, Asia Pacific region has largest share in the market. There are Rapid developments in Asia Pacific which have boosted the market.
  • Major of the edible oils like Palm Oil are imported in Vietnam. In April 2022, Indonesia banned export of edible oils which led to overall shortage & hence the prices rose, which further led consumption to lower down


Key Trends by Market Segment:

By Type: In 2022, Vietnam edible oil market is been dominated bypalm oil. Vietnam is the second-largest importer of Malaysian palm oil in the ASEAN region.  The consumption of oils and fats is driven by growth in the food and beverage sector. According to Vietnam Customs, Vietnam’s soybean imports in MY2020/21, reached 2 Mn tons, an increase of 7.0% compared to the previous year. Vietnam grew 8.4% of Domestic Consumption of Coconut Oil in 2021, from a year earlier. Since 2015 Vietnam Domestic Consumption of Coconut Oil was up 4.5% year on year reaching 193 Thousand Metric Tons.

Vietnam Edible Oil Market Share

By Mode of sales channel: Physical trips to the grocery store are still the preferred mode of buying supplies for a chunk of urban population even with the convenience of delivery apps. Non-buyers prefer to see grocery in person before buying it, there is a distrust in e-tailers to choose the best and freshest grocery, non-buyers prefer personal contact with the seller and behave habitually.Buying Online can be more expensive. Depending on the store, there can be additional costs for usage and delivery fees. You may still need to go the grocery store. If you only use the online services for your weekly or bi-weekly trip, you may still need to go to the store for perishable items in between.

Vietnam Edible Oil Market Growth

By Type of sales channel: In 2022, the market is dominated by Small local Grocers with contributing the market share of 87.4%. Purchasing locally also means that you know a bit more about quality control; you know that certain goods have been produced in a way that meets stringent regional and national standards. Often touted as the best way to be environmentally friendly and support your community

Vietnam Edible Oil Market Research

Competitive Landscape:

Major Players in Vietnam Edible Oil  Market

Vietnam Edible Oil Market Players

  • There are currently about 40 cooking oil companies in Vietnam, however, most of the market share is held by 3 major companies.
  • Calofic, which accounts for nearly 40% of the market share; Tuong An with 13% of market share Kido - Nha Be with 3.2%, Tan Binh with 2.4% and other companies constituting 39% of the market share.
  • Simply, Meizan, Kiddy, Cai Lan, are the brands of Calofic Company having a Brands market share of 40% collectively, while remaining constitutes other brands, having a volume consumption of around 415 thousand Metric Tonnes in 2022

Vietnam Edible Oil Market Outlook

Future Outlook:

Vietnam Edible Oil Market Revenue

  • Palm products import by Vietnam are mainly for the bakery and confectionary sectors. It shows that palm oil gives a significant role in this industry in Vietnam. The government of Vietnam has recognized the bakery sector as one of the important GDP contributors to the country.
  • Vietnam has two industrial soybean crushing facilities Post forecasts the MY2021/22 and MY2022/23 soybean crush at 1.4 Mn tons reflecting the highest crush capacity of both facilities due to higher demand
  • While online and offline touchpoints are equally faring out well, there is a high conversion rate of 70.0-80.0% when it comes to offline purchase on a regular basis

Scope Of The Report

Scope of the Report

Vietnam Edible Oil Market Segmentation

By Type

·       Palm Oil

·       Soy Oil

·       Coconut Oil

·       Peanut Oil

·       Others

By Mode of Distribution channel

·       Online

·       Offline

By Type of sales channel

·       Small Local Grocers

·       Super market

·       Hypermarket

·       Convenient store

·       E-commerce

By Age-Group

·       0-14 Years

·       15-19 Years

·       20-24 Years

·       25-44 Years

·       45-64 Years

·       65-79 Years

·       80+ Years

By Income Level

·       2.5 LPA

·       5-7 LPA

·       7-9 LPA

·       9 LPA and Above

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

  • Newspapers and Journals ( Business Standard, The Hindu, Mint, Economic Times, Financial Express)
  • Online Articles
  • Ministries
  • Government Associations
  • Industry Articles And Company Profiles (Thailand Statistical Department, Research papers and Others)


Time Period Captured in the Report:

  • Historical Period: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2022-2027


Major Players Mentioned in the Report:

  • Calofic
  • Tuong An
  • Kido Nha Be

Table of Contents

Table of Contents

1. Executive Summary

1.1 Executive Summary: Vietnam Edible Oil Market

2. Country Overview

2.1 Country Demographics 

2.2 Vietnam Population Analysis

3. Vietnam Oil and Fats Industry

3.1 Oil and Fats Industry Overview

3.2 Types of Fats in edible oil 

3.3 Types of cooking oil 

3.4 Overview and Industry affecting factors 

3.5 Consumer Preferences of edible oil 

4. Vietnam Edible Oil Market Overview

4.1 Vietnam Edible Oil Ecosystem

4.2 Business Cycle 

4.3 Value Chain Analysis

4.4 Market Sizing Analysis of Vietnam Edible Oil Market, 2017-2022

5. Vietnam Edible Oil Market Segmentation, 2022

5.1 Market Segmentation on the basis of revenue, 2022

5.2 Market Segmentation on the basis of volume consumed, 2022

5.3 Market Segmentation on the basis of mode of sales, 2022

5.4 Market Segmentation on the basis of type of sales channel, 2022

6. End User Analysis of Vietnam Edible Oil Market, 2022

6.1 Consumption and buying behavior of Vietnamese people 

6.2 Customer Journey 

6.3 End User Decision Making Parameter 

7. Industry Analysis of Vietnam Edible Oil Market

7.1 Overview of Retail Sector in Vietnam

7.2 Porter’s five forces analysis

7.3 Consumers Desires and Emerging implications in Vietnam edible oil market

7.4 Factors Influencing Consumer Behaviour 

7.5 Swot Analysis

7.6 Growth Drivers 

7.7 Challenges Faced

7.8 Evolution of mechanization in Vietnam agriculture industry

7.9 Oil and Seed Situation and Outlook – Soyabean 

8. Impact of COVID - 19

8.1 Covid 19 Impact of production of edible oil

8.2 Covid 19 Impact on Imports and Exports

9. Competition Framework of Vietnam Edible Oil Market, 2022

9.1 Competition Market Share by Volume, 2022 (Calofic, Tuong An, Kido Nha be)

9.2 Company Profile – Tuong An 

9.3 Company Profile – Calofic 

9.4 Company Profile – Kido Nha Be

10. Future Outlook and Projections of the Industry, 2022-2027

10.1 Future Market Segmentation on the basis of Revenue, 2027

10.2 Future Market Segmentation on the basis of Volume, 2027

10.3 Future Market Segmentation on the basis of Mode of Sales Channel, 2027

10.4 Future Market Segmentation on the basis of Type of Sales Channel, 2027

11. Market Opportunities and Analyst Recommendations

11.1 Key Points to keep in mind 

11.2 Key Facts and Strategies to be adopted

11.3 Pain Points and Solutions

12. Research Methodology 

12.1 Market Definitions and Assumptions 

12.2 Abbreviations

12.3 Market Sizing Approach

12.4 Consolidated Research Approach

12.5 Sample Size Inclusion

12.6 Limitation and Future Conclusion


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Research Methodology

Research Methodology

Step1: Identifying Key Variables: Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step2: Market Building: Collating statistics on Edible Oil market over the years, penetration of marketplaces and service providers ratio to compute revenue generated for Vietnam Edible Oil market. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.

Step3: Validating and Finalizing: Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step4: Research output: Our team will approach multiple lubricants providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from edible oil providers.

Vietnam Edible Oil Market Report

Vietnam Edible Oil Market Analysis

Frequently Asked Questions

Frequently Asked Questions

How big is Vietnam Edible Oil Market?

The Vietnam Edible Oil Market was valued at USD 1,117.6 Mn in 2022.

What are the Key Factors Driving the Vietnam Edible Oil Market?

Rising rate of urbanization, Traditional open markets are likely to fuel the growth in the Vietnam Edible Oil Market.

Who are the Key Players in the Vietnam Edible Oil Market?

Calofic, Twong An, An long and Kido Group Are some of the key players in the Market

What is the Future Market size of the Vietnam Edible Oil Market?

The Vietnam Edible Oil Market is expected to reach USD 1,456.2 Mn by 2027.

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