FMCG Monitor FY2024: Slowed consumer spend growth

Vietnam’s FMCG landscape in 2024 encountered challenges even with the country's positive economic trajectory.

The Vietnamese economy expanded at a rate of 7.09%, exceeding the government's target and demonstrating resilience in the face of internal and external challenges, most recently the super typhoon Yagi. While inflation remained in check at 3.63%, aligning with the government's target, the persistently rising costs of food, healthcare, and education continue to put pressure on consumers’ budgets.

While Vietnam’s economic indicators show robust development, consumer confidence on the economic outlook and their own financial situations has also shown changes in comparison to the end of last year.

A positive economic performance may not translate to increased consumer spending. Overall FMCG spend growth has slowed down compared to the robust performance in 2023. However, there are pockets of growth within the FMCG sector and retail landscape presenting opportunities for brands that can identify and take of advantage of changing consumer trends.

Uncover the full FMCG story in Vietnam

How have recent macro and socioeconomic trends influenced consumer sentiment and in-home FMCG purchases? Which categories drove growth, and which retail channels captured consumer attention throughout 2024?

Kantar’s Vietnam FMCG Monitor FY2024 report provides the answers you need to stay ahead of the curve.

What you’ll find:

• Macroeconomic Pulse: Stay informed about consumer confidence, household expenditures, spending patterns, and macroeconomic trends that shape the FMCG landscape.
• FMCG Overview: Gain insights into the performance of key FMCG sectors and identify the factors driving growth and decline.
• Retail Channel Dynamics: Analyze the evolving retail landscape and optimize your trade plans for maximum impact.
• Category-Specific Analysis: Deep-dive into specific categories to uncover competitive insights and identify growth opportunities.

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Worldpanel Vietnam’s Household panel 

The Vietnam FMCG Monitor series is powered by Worldpanel Vietnam’s household panel. We continuously track all information about household purchases of over 130 FMCG categories for in-home consumption. 

With our single-sourced panel, we can uncover and link consumer attitudes and perspectives to actual shopping behaviour to help you develop a holistic brand strategy. Through our advanced solutions and analytics, you will understand who your shoppers are, how they shop, spend and consume.  

Contact our expert team and start leveraging consumer and market insights to grow your FMCG brand in 2025.