Population Growth along with Rising Income, Health Consciousness and the Thriving Bakery/Confectionery Industry will have Strong Influence in the Industry: Ken Research
GURUGRAM, India, Aug. 11, 2021 /PRNewswire/ --
- Introduction of healthy variants such as sugar free and fat free puddings to lure health conscious consumers and drive market growth.
- Proliferation of various retail formats such as online food delivery apps to provide consumers easier access to a variety of bakery products.
- Surge in consumption inspired by use of social media to flaunt their lifestyle will increase sales.
- Value-conscious customers are gravitating towards the offerings of supermarkets for buying instant pudding mix while consumers concerned with health and quality are increasingly purchasing high-margin products from artisanal bakeries.
Evolution of Consumer Preferences: A growing working population has driven consumption of commercial baked prepackaged goods including breads, cakes, puddings and cookies that were previously prepared at home. More than 30% consumers and 40% of millennials prefer visiting restaurants offering dishes with new or innovative flavors/ingredients.
Increased Prevalence of Lifestyle Diseases: ~23% and 17% of Vietnamese adult females and males estimated to be overweight or obese in 2020. The rapid increase in prevalence of overweight and obesity in urban Vietnam among all age groups have negatively affected to market.
Impact of COVID 19: The closure of foodservice outlets during lockdown along with the strict government restrictions on gatherings during COVID 19 has seriously affected the sales of puddings. Because festivals are major sales drivers for cakes and puddings in Vietnam, the sales performances of bakeries in 2020 as a whole proved to be weaker than expected. Consumer footfall to bakery shops and retailing stores has also decreased significantly post COVID due to safety and health concerns.
The report titled "Vietnam Pudding Market Outlook to 2025F – Driven by Robust Population of Millennial Consumers along with Proliferation of Food Tech Apps" by Ken Research suggested that the pudding market is further expected to grow in the near future owing to increase in consumer spending and ease of availability. Presence of numerous small and large bakeries competing in terms of prices and variants along with the introduction of healthy variants are increasing the sales. The market is expected to register a positive six year CAGR of 6.0% in terms of revenue during the forecast period 2020-2025F.
Key Segments Covered in Vietnam Pudding Market:-
- By Distribution Channel
- Standalone Sops (Bakery/Confectionery)
- Online
- HORECA's
- By Tier 1 and Tier 2 Cities Sales
- Tier 1 Cities
- Tier 2 Cities
Key Target Audience:-
- Pudding Manufacturers
- Pudding Mix Manufacturers
- Consultancy Companies
- Bakeries/Confectioneries
- Hotels and Restaurants
Time Period Captured in the Report:-
- Historical Period: 2015-2020
- Forecast Period: 2020–2025
Key Topics Covered in the Report:-
- Vietnam Pudding Market Introduction and Overview
- Supply Side Ecosystem and Geographical Distribution
- Value Chain Analysis of Pudding Market
- Consumer Trends and Preferences
- Industry Analysis (Porter's Five Forces Analysis)
- Comparative Landscape – Vietnam Pudding Market
- Entry Barriers in the Industry
- Future Trends in Vietnam Pudding Market
- Research Methodology
- Appendix
- Pudding Market Vietnam
- Pudding Market Revenue Vietnam
- Pudding Production Vietnam
- Chocolate Pudding Vietnam
- Caramel Pudding Vietnam
- Fruit Pudding Vietnam
- Major Bakeries Vietnam
- Bakery Market Vietnam
- Cake Market Vietnam
- Vietnam Pudding Packaging
- Pudding Price Vietnam
- Competition Scenario Vietnam Pudding Market
- Vietnam Pudding Competition Scenario
- Pricing Analysis Pudding Vietnam
- Packaging Vietnam Pudding
- COVID Impact Pudding Vietnam
For More Information on the research report, refer to below link:-
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