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Vietnam Retail Market Size, Share, Growth, Industry [2031]
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Vietnam Retail Market Size, Share, Growth, Industry [2031]

Segments - Vietnam Retail Market by Product Types (Food, Beverage, & Tobacco; Personal Care & Households; Industrial & Automotive; Furniture, Toys, & Hobby; Electrical & Electronics; Apparel, Footwear, & Accessories; and Others), Distribution Channels (Hypermarkets/Supermarkets, Department Store, Specialty Stores, E-commerce, and Others), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :BFSI-1706 | 4.9 Rating | 54 Reviews | 184 Pages | Format : PDF Excel PPT

Report Description


The Vietnam Retail market size was valued at USD 220.22 Billion in 2022 and is likely to reach USD 610.69 Billion by 2031, expanding at a CAGR of 12% during 2023 – 2031. The growth of the market is attributed to the rising tourism activities, increasing disposable income, changing consumer taste and preferences, changing demographic profile, healthy economic growth, and rapid urbanization.

Retail market is the market for the sale of goods and services to various consumers rather than intermediaries and producers through various channels of distribution to earn the profits. Retail shops are available in various ranges from strip shopping centers in the residential markets to large and indoor shopping malls and complexes. Wholesalers are the independent organizations in the distribution channel, which buy the goods in bulk and then sell it to the resellers rather than consumers.

Vietnam Retail Market Outlook

The retail market includes sale of goods to the ultimate users which gives the services of making goods available in different locations and large quantities. It involves the buying of goods from wholesalers and then displaying the goods for selling it to the customers physically or online. Wholesalers and retailers take the ownership of the goods to bear the risk of carrying inventory.

  • Rapid growth in the retail data is major factor propelling the market growth during the forecast period.

  • Increasing digitization to enhance customer experience and retail operations is projected to push the market expansion in the coming years.

  • Lack of technology adoption by various unorganized retail sector acts as key challenges that can impede the market growth.

  • Data deficit faced in the retail market is anticipated to hinder the market expansion during the forecast period.

  • R&D investment and technological advancement in the retail sector is expected to offer significant opportunities for the market players.

Scope of Vietnam Retail Market Report

The report on the Vietnam Retail market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Vietnam Retail Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Product Types (Food, Beverage, & Tobacco; Personal Care & Households; Industrial & Automotive; Furniture, Toys, & Hobby; Electrical & Electronics; Apparel, Footwear, & Accessories; and Others), Distribution Channels (Hypermarkets/Supermarkets, Department Store, Specialty Stores, E-commerce, and Others)

Country

Vietnam

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Central Group; Vin Group; Saigon Co. Op; AEON Group; and Lotte Mart

Vietnam Retail Market Segment Insights

Personal care & households segment is projected to account for a large market share

Based on product types, the Vietnam Retail market is divided into food, beverage, & tobacco; personal care & households; industrial & automotive; furniture, toys, & hobby; electrical & electronics; apparel, footwear, & accessories; and others. The personal care & households segment is expected to constitute a key share of the market during the forecast period owing to increasing demand for natural personal care products, increasing income, and growing demand for household goods in the country. However, the food, beverage, & tobacco segment is anticipated to expand at a rapid pace during the forecast period due to rising population is growing demand for the foods and beverages.

Vietnam Retail Market Product Types

E-commerce segment is projected to hold a key market share

On the basis of distribution channels, the market is segmented into hypermarkets/supermarkets, department store, specialty stores, e-commerce, and others. The e-commerce segment is expected to represent a key share of the market in the coming years due to increasing Smartphone penetration and rising usage of internet across the countries. The number of suppliers for online selling is increasing and changing purchasing power of the consumers is expected to drive the market. The rising new trend such as online fresh groceries and rising adoption of internet of things is anticipated to boost the market.  On the other hand, the supermarkets/hypermarkets segment is anticipated to expand at a rapid pace during the forecast period owing to access to variety of consumer goods under one roof with flexible timings and various discount offers available.

Segments

The Vietnam Retail market has been segmented on the basis of

Product Types

  • Food, Beverage, & Tobacco
  • Personal Care & Households
  • Industrial & Automotive
  • Furniture, Toys, & Hobby
  • Electrical & Electronics
  • Apparel, Footwear, & Accessories
  • Others

Distribution Channels

  • Hypermarkets/Supermarkets
  • Department Store
  • Specialty Stores
  • E-commerce
  • Others

Country

  • Vietnam

Key Players

  • Central Group
  • Vin Group
  • Saigon Co. Op
  • AEON Group
  • Lotte Mart

Competitive Landscape

Key players competing in the Vietnam Retail market include Central Group; Vin Group; Saigon Co. Op; AEON Group; and Lotte Mart. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • In 2020, Vinamik and GTNFoods became Moc Chau Milk’s strategic stakeholder after they acquired more than 39 million shares of the company.

  • In July 2020, Muji the leading Japanese retailer opened a store in HCM city.

Vietnam Retail Market Key Players

Frequently Asked Questions

The report covers the forecast period from 2023 to 2031, with historic data from 2016 to 2021 and a base year of 2022.

Opportunities include R&D investment and technological advancements in the retail sector, as well as increasing digitization to enhance customer experience.

Challenges include lack of technology adoption in the unorganized retail sector and data deficits in the market.

Key players covered in the report are Central Group, Vin Group, Saigon Co. Op, AEON Group, and Lotte Mart.

Major distribution channels include hypermarkets/supermarkets, department stores, specialty stores, e-commerce, and others.

E-commerce is projected to hold a key market share due to increasing smartphone penetration, internet usage, and the rise of online grocery shopping and IoT adoption.

The personal care & households segment is projected to account for a large market share, while the food, beverage, & tobacco segment is expected to grow rapidly due to increasing demand.

Key growth drivers include rising tourism activities, increasing disposable income, changing consumer preferences, demographic shifts, healthy economic growth, and rapid urbanization.

The Vietnam retail market is expected to reach USD 610.69 billion by 2031, expanding at a CAGR of 12% from 2023 to 2031.

The Vietnam retail market was valued at USD 220.22 billion in 2022.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Retail Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Retail Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Retail Market - Supply Chain
  4.5. Global Retail Market Forecast
     4.5.1. Retail Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Retail Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Retail Market Absolute $ Opportunity
5. Global Retail Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Retail Market Size and Volume Forecast by Types
     5.3.1. Food, Beverage, & Tobacco
     5.3.2. Personal Care & Households
     5.3.3. Industrial & Automotive
     5.3.4. Furniture, Toys, & Hobby
     5.3.5. Electrical & Electronics
     5.3.6. Apparel, Footwear, & Accessories
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Retail Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Retail Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Retail Demand Share Forecast, 2019-2026
7. North America Retail Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Retail Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Retail Market Size and Volume Forecast by Types
     7.4.1. Food, Beverage, & Tobacco
     7.4.2. Personal Care & Households
     7.4.3. Industrial & Automotive
     7.4.4. Furniture, Toys, & Hobby
     7.4.5. Electrical & Electronics
     7.4.6. Apparel, Footwear, & Accessories
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Retail Demand Share Forecast, 2019-2026
8. Latin America Retail Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Retail Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Retail Market Size and Volume Forecast by Types
     8.4.1. Food, Beverage, & Tobacco
     8.4.2. Personal Care & Households
     8.4.3. Industrial & Automotive
     8.4.4. Furniture, Toys, & Hobby
     8.4.5. Electrical & Electronics
     8.4.6. Apparel, Footwear, & Accessories
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Retail Demand Share Forecast, 2019-2026
9. Europe Retail Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Retail Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Retail Market Size and Volume Forecast by Types
     9.4.1. Food, Beverage, & Tobacco
     9.4.2. Personal Care & Households
     9.4.3. Industrial & Automotive
     9.4.4. Furniture, Toys, & Hobby
     9.4.5. Electrical & Electronics
     9.4.6. Apparel, Footwear, & Accessories
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Retail Demand Share Forecast, 2019-2026
10. Asia Pacific Retail Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Retail Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Retail Market Size and Volume Forecast by Types
     10.4.1. Food, Beverage, & Tobacco
     10.4.2. Personal Care & Households
     10.4.3. Industrial & Automotive
     10.4.4. Furniture, Toys, & Hobby
     10.4.5. Electrical & Electronics
     10.4.6. Apparel, Footwear, & Accessories
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Retail Demand Share Forecast, 2019-2026
11. Middle East & Africa Retail Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Retail Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Retail Market Size and Volume Forecast by Types
     11.4.1. Food, Beverage, & Tobacco
     11.4.2. Personal Care & Households
     11.4.3. Industrial & Automotive
     11.4.4. Furniture, Toys, & Hobby
     11.4.5. Electrical & Electronics
     11.4.6. Apparel, Footwear, & Accessories
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Retail Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Retail Market: Market Share Analysis
  12.2. Retail Distributors and Customers
  12.3. Retail Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Central Group
     12.4.2. Vin Group
     12.4.3. Saigon Co. Op
     12.4.4. AEON Group
     12.4.5. Lotte Mart

Methodology

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