Kantar Worldpanel has a positive outlook for Việt Nam’s economy, saying that despite obstacles and short-term headwinds, the long-term economic trajectory remains robust.
The fast moving consumer goods sector is forecast to grow at 6.4 per cent this year in the country’s four major cities and 8.7 per cent in rural areas, according to global data and consulting company Kantar Worldpanel.
The personal care sector has enjoyed strong growth of 7 per cent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment.
Nguyen Thi Duyen, 35, from the rural commune of Duc Thuong in Ha Noi, spends an extra VND500,000(US$21.5) on milk after her 11 year-old son was said to be “shorter than others” in his class.
Fast moving consumer goods are expected to have another year of strong growth in 2018 and rise 6-7 per cent over the preceding year, according to a Kantar Worldpanel report on Viet Nam FMCG market.