Vietnam Dairy Alternative Market Research Report, 2030

The dairy alternatives market in Vietnam is changing as a result of urbanization, traditional practices, and worldwide trends. In Vietnamese culture, soy-based beverages have a long history of being enjoyed as freshly made, warm drinks sold by street vendors. These drinks have evolved into contemporary dairy substitutes, with businesses like Vinamilk and Number 1 Soya Calcium providing packaged soy milk products that appeal to health-conscious customers looking for wholesome and practical choices. It might be difficult to introduce Western-style plant-based milks, like almond and oat milk, in Vietnam. Since they frequently have higher prices and unusual tastes, these items are less available to the typical customer. Furthermore, these Western alternatives might not be compatible with the traditional Vietnamese palate and dietary habits, necessitating substantial promotional initiatives to promote acceptance. The adoption of dairy-free alternatives has been greatly aided by Vietnam's quick urbanization. The increasing number of people moving to cities has increased exposure to worldwide food trends, which has led to an increase in demand for plant-based goods. Urban consumers, especially those in younger age groups, are more likely to try out new dietary options, such as dairy substitutes. In order to attract Vietnamese consumers, international brands entering the market have implemented localization plans. This includes modifying product formulations to align with Vietnamese taste preferences and investing in marketing initiatives that connect with local culture. These companies are also able to gain a foothold in the market by collaborating with regional partners and influencers. It is worth noting that rice and coconut milk production in the country has been innovated. Vietnam, one of the top rice producers in the world, has taken use of this benefit to create milk substitutes made from rice. Similarly, coconut milk manufacture has advanced, with local firms manufacturing goods that appeal to both domestic and foreign consumers. According to the research report, "Vietnam Dairy Alternatives Market Research Report, 2030," published by Actual Market Research, the Vietnam Dairy Alternatives market is anticipated to grow at more than 12.03% CAGR from 2025 to 2030. The dairy alternative industry in Vietnam is growing rapidly due to the growing middle class and rising health awareness. The move toward plant-based diets among city dwellers, along with increasing disposable incomes, is driving this positive trend. Important local firms like Vinamilk and Vinasoy have played a key role in increasing the availability and affordability of dairy substitutes made from plants. For instance, Vinamilk has expanded its customer base by offering a line of soy-based drinks that appeal to local palates and prices. To satisfy the rising demand for dairy alternatives, these businesses make use of local resources and well-established distribution channels. Initiatives such as the Food Innovation Hub Vietnam (FIHV), which was founded by the Ministry of Agriculture and Rural Development, demonstrate the Vietnamese government's active support for food innovation. This platform is intended to encourage sustainable farming techniques and support the creation of novel food products, such as plant-based dairy substitutes. This kind of help has spurred research and development in the industry, resulting in a wider range of products. Food safety certifications are key to establishing consumer trust. For producers, adhering to regulations like the Law on Food Safety, ISO 22000, and HACCP is crucial. These certifications, which are supervised by the Ministry of Health and the Ministry of Agriculture and Rural Development, guarantee that products adhere to high safety and quality standards, which increases consumer trust. "Clean-label" plant milks are one of the emerging trends that is gaining popularity, particularly among younger consumers.

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Soy milk continues to be a mainstay among the many plant-based milk substitutes, firmly established in Vietnamese culture. Many consumers choose it because of its affordability and accessibility. The protein content and versatility of soy milk in Vietnamese cuisine further establish its market position. Although almond milk is a relatively new product in the Vietnamese market, it is gaining popularity, particularly among city dwellers looking for low-calorie and cholesterol-free substitutes. Its nutty taste and silky texture make it a favorite choice for people seeking a dairy-free alternative that goes well with both beverages and culinary creations. Nonetheless, the higher price of almond milk and the environmental issues related to almond farming, such as excessive water consumption, may restrict its widespread usage. In Vietnamese cuisine, coconut milk has a unique position since it is historically used in a wide range of foods and sweets. It is widely used for both cooking and as a drink because of its rich, creamy texture and unique taste. The fact that coconuts are readily available in Vietnam helps the manufacturing of coconut milk, which is a major product in the dairy alternatives industry. Rice milk, which is produced from one of Vietnam's main staple crops is a naturally sweet and hypoallergenic substitute for dairy. It's a good choice for people with allergies or dietary restrictions due to its light texture and mild taste. But the environmental effects of rice production, such as high-water consumption and methane emissions, raise sustainability concerns. In Vietnam's dairy alternative industry, oat milk is becoming more popular. Oat milk is becoming more well-known among consumers who prioritize their health and are looking for environmentally friendly alternatives because of its smooth texture and low flavor. It's more enticing because of its reduced impact on the environment than other plant-based milk substitutes. Other plant-based milk substitutes, such as those made from hemp, cashew, or pea protein, are also entering the Vietnamese market. The sector is dominated by plant-based milk, with the popularity of soy milk in the culture and rising consumer demand for almond, oat, and coconut milk as driving factors. Due to lactose intolerance and an increasing preference for organic, cholesterol-free drinks, Vietnamese consumers, particularly in urban areas, are including these choices into their daily diet. Plant milks are now more readily available and convenient for on-the-go lifestyles because of aseptic packing and ready-to-drink forms. Plant-based yogurt is becoming increasingly popular, particularly among young adults and women looking for protein-rich, gut-friendly snacks. Soy and coconut-based yogurts dominate the industry, while local businesses are developing new flavors and textures to suit Vietnamese tastes. The adoption of flavored kinds containing tropical fruits, probiotics, and low sugar content is being driven, particularly among health-conscious urban populations. Plant-based cheese is still a niche market, hampered by pricing and a lack of customer awareness. It's mostly available in health food chains, vegan restaurants, and specialty retailers. The dairy-free cheese market is still a niche market, but it's expanding. But as Western-style dietary practices proliferate through food service and online influencers, curiosity is growing. Cashew, soybean, and coconut oil-based cheeses are gradually becoming more well-known. Plant-based ice cream, on the other hand, has gained significant traction, in line with Vietnam's tropical environment and rising demand for decadent, dairy-free sweets. Flavors that make use of local ingredients like mango, pandan, and coconut are doing well, and both domestic and foreign companies are investing in vegan frozen treats. Creamers, which are frequently derived from soy or coconut, are gaining popularity in Vietnam's robust coffee market. Dairy-free creamers appeal to customers who would like to preserve the creaminess of classic Vietnamese coffee without lactose. Other emerging products, such dairy-free sweets, whipping creams, and butter substitutes, are helping to create a more inclusive and plant-forward culinary environment in Vietnam. Plant-based dairy products are mostly available in supermarkets and hypermarkets, notably in urban areas like Ho Chi Minh City and Hanoi. These stores cater to middle-income consumers and health-conscious families by selling a wide variety of brands and product categories, including almond-based yogurt and soy milk. Dairy substitutes have gained popularity and trial among consumers because of promotions, free sampling, and exclusive health food aisles in stores like VinMart and Lotte Mart because they provide convenience and on-the-go consumption, convenience stores such as well-known chains like Circle K, Ministop, and FamilyMart have become essential. These stores, which cater to busy commuters, students, and young professionals, frequently carry dairy-free sweets and ready-to-drink plant milks. Because of their extensive hours of operation and widespread presence in cities, they are the best place to go for a quick and healthy meal selection. The rise of online retail is fueled by Vietnam's digital transformation and increasing e-commerce penetration. Several sites, like Tiki, Shopee, and Lazada, have adopted the plant-based movement, providing home delivery of a variety of dairy substitute products. Direct-to-consumer brand websites and subscription services are also becoming more popular, especially for specialized or foreign products. Tech-savvy, urban millennials who prioritize convenience, product selection, and access to high-quality or clean-label products love this channel. Other channels, like café chains, health food shops, and specialized organic retailers, are essential in developing premium and lifestyle-oriented categories. These stores frequently offer cutting-edge, more expensive items and act as discovery hubs for emerging trends such as dairy-free protein beverages or fermented plant-based yogurt.

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Nikita Jabrela

Business Development Manager

Considered in this report • Historic Year: 2019 • Base year: 2024 • Estimated year: 2025 • Forecast year: 2030 Aspects covered in this report • Dairy Alternatives Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Source • Soy • Almond • Coconut • Rice • Oats • Others

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By Product • Milk • Yogurt • Cheese • Ice Cream • Creamer • Others By Distribution Channel • Supermarket & Hypermarkets • Convenience Stores • Online retail • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to this industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.