Sugar Confectionery in Vietnam

Euromonitor International
June 2023
SUGAR CONFECTIONERY IN VIETNAM Passport i

LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2023 DEVELOPMENTS ............................................................................................................... 1
Growing levels of health-consciousness, combined with an elevated rate of inflation, limit
growth in 2023 .......................................................................................................................... 1
Flavour innovation remains key in driving demand ................................................................... 1
Local companies remain in favour, due to their competitive pricing and understanding of local
taste preferences ...................................................................................................................... 2
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Further expansion expected, with growing focus on lower-sugar and functional varieties ........ 2
Traditional items will continue to cater to local tastes ............................................................... 3
E-commerce will have A significant impact on demand ............................................................ 3
CATEGORY DATA ....................................................................................................................... 3
Summary 1 Other Sugar Confectionery by Product Type: 2023 ...................................... 3
Table 1 Sales of Sugar Confectionery by Category: Volume 2018-2023 .................. 4
Table 2 Sales of Sugar Confectionery by Category: Value 2018-2023 ..................... 4
Table 3 Sales of Sugar Confectionery by Category: % Volume Growth 2018-
2023 ............................................................................................................. 4
Table 4 Sales of Sugar Confectionery by Category: % Value Growth 2018-
2023 ............................................................................................................. 5
Table 5 Sales of Pastilles, Gummies, Jellies and Chews by Type: % Value
2018-2023 .................................................................................................... 5
Table 6 NBO Company Shares of Sugar Confectionery: % Value 2019-2023 .......... 5
Table 7 LBN Brand Shares of Sugar Confectionery: % Value 2020-2023 ................ 6
Table 8 Distribution of Sugar Confectionery by Format: % Value 2018-2023 ........... 7
Table 9 Forecast Sales of Sugar Confectionery by Category: Volume 2023-
2028 ............................................................................................................. 8
Table 10 Forecast Sales of Sugar Confectionery by Category: Value 2023-
2028 ............................................................................................................. 8
Table 11 Forecast Sales of Sugar Confectionery by Category: % Volume
Growth 2023-2028 ....................................................................................... 8
Table 12 Forecast Sales of Sugar Confectionery by Category: % Value Growth
2023-2028 .................................................................................................... 9

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SUGAR CONFECTIONERY IN
VIETNAM
KEY DATA FINDINGS
▪ Retail value sales increase by 7% in current terms in 2023 to VND9.6 trillion
▪ Medicated confectionery is the best performing category in 2023, with retail value sales
growing by 12% in current terms to VND130 billion
▪ Perfetti Van Melle Vietnam Ltd is the leading player in 2023, with a retail value share of 13%
▪ Retail sales are set to grow at a current value CAGR of 8% (2023 constant value CAGR of
4%) over the forecast period to VND14.1 trillion

2023 DEVELOPMENTS

Growing levels of health-consciousness, combined with an elevated rate

of inflation, limit growth in 2023
Sugar confectionery experienced a marked slowdown in growth in retail volume terms in
2023. Rising Inflation, triggered by the energy crisis, was a key contributor to this trend, as cash-
strapped households were forced to reduce their expenditure on discretionary items, including
items of sugar confectionery, which are usually purchased on impulse during shopping trips.
While manufacturers tried to their best to limit any price increases, they were forced to pass on
their increased costs to consumers. Moreover, a growing number of consumers in Vietnam are
looking to reduce the amount of sugar in their diet, due to growing health and wellness
concerns. This trend was accelerated by the pandemic, due to the strong link between
obesity/diabetes and poor COVID-19 outcomes. However, consumers tended to seek out
‘reduced sugar’ items, rather than forgo these products altogether, they were unwilling to give
up the sweet taste of sugar-based food.

Flavour innovation remains key in driving demand

Sugar confectionery is typically consumed for reasons of indulgence, rather than for any
specific functional benefits. As such, the introduction of new, exotic, flavours remained a key
driver in attracting consumers’ attention and encouraging trial purchases in 2023. This trend was
also fuelled by increasing urbanisation, which led to a higher demand for more sophisticated
flavours. Domestic companies, such as Bibica and Haiha, were particularly active in terms of
launching new products with unique flavours inspired by the local culture, including ginger, salty
lemon and coconut. However, the growing demand for traditional ingredients was also exploited
by multinational Perfetti Van Melle Vietnam Ltd , which launched a new Mango with Chili Salt
variety of its Alpenliebe brand, which extended its lead in toffees, caramels and nougat in 2023.
One factor that has proven crucial for sugar confectionery is that these are by no means seen
as essential products, which means that players are generally heavily focused on marketing
campaigns to spur demand. This also requires manufacturers to keep abreast of evolving
trends, in order to ensure strong engagement with consumers. Thus, innovation is likely to
continue to be one of the most effective ways to gain and maintain a competitive advantage in
the category.

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Local companies remain in favour, due to their competitive pricing and

understanding of local taste preferences
International company Perfetti Van Melle Vietnam Ltd continued to lead in sugar confectionery
in 2023. The company benefits from a strong brand portfolio, including Alpenliebe (which
dominates in toffees, caramels and nougats), Chupa Chups (which maintains a convincing lead
in lollipops) and Mentos (which has a presence in both mints and pastilles, gummies, jellies and
chews). It also continues to innovate within the category, particularly in terms of flavour. As
previously mentioned it recently extended the Alpenliebe range to include a new mango, chili
and salt flavour, as well as a red milk tea variety. The company’s wide range of product options,
reputation for quality, and ability to tap into local tastes ensured that its brands remained firm
favourites amongst Vietnamese consumers.
Local companies Haiha Confectionery JSC and Bien Hoa Confectionery Corp (Bibica)
continued to have a strong presence in sugar confectionery in 2023. Like Perfetti Van Melle,
both players benefit from a wide brand portfolio across multiple categories, with Haiha being
particularly strong in pastilles, gummies, jellies and chews while Bibica’s ubiquitous brand holds
a leading share in boiled sweets. However, both companies lost share during the review period,
mainly to the benefit of the collection of small players under “others”, which held almost a third
of the total category value sales in 2023. Nevertheless, factors such affordable prices, improving
product quality, familiarity, the ability to cater for local tastes, and growing levels of patriotism
also helped to maintain the profile of these domestic brands vis-à-vis their international
counterparts.

PROSPECTS AND OPPORTUNITIES

Further expansion expected, with growing focus on lower-sugar and

functional varieties
Sugar confectionery is set to see further expansion in volume terms over the forecast period,
in line with the recovery of the Vietnam economy. Product innovation is also expected to
stimulate consumer demand, supported by heavy investment in marketing and advertising
activity by the leading players. However, given that Vietnamese consumers are becoming more
health conscious, many will look to reduce their daily sugar intake. A diet high in sugar is widely
known to be correlated with a higher incidence of obesity and diabetes, as well as other chronic
medical conditions. This shift towards healthier eating will be driven by rising disposable
incomes and improved education levels, with more affluent, knowledgeable consumers being
more likely to make informed choices about their dietary options.
However, it should be noted that most consumers will continue to seek out ‘reduced sugar’
rather than ‘zero sugar’ options, since they will be reluctant to give up the sweet taste of sugar-
based food. Consequently, the leading brands in the category are expected to focus on offering
products with a lower sugar content, rather than sugar-free versions. However, this preference
could change in the coming years, a consumers become more aware of the different types of
sugars in food and how they impact taste and health.
Alongside the development of lower-sugar variants of sugar confectionery, there is likely to be
a rising demand for functional products that offer additional health benefits, such as boosting the
immune system, improving energy levels, or providing stress relief. As such ingredients such as
vitamins, minerals, and herbal extracts will be infused into sugar confectionery products to meet
this need. Oishi, for example, has already introduced a new product line named Energy Candy,
which contains added vitamin C. This trend will also help to boost sales of medicated

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confectionery, which is formulated with active ingredients, such as vitamins, minerals, or herbal
extracts.
However, it should be noted that sugar confectionery is typically considered to be an
indulgence, rather than a part of the everyday diet and will therefore continue to be consumed
as a treat, despite a growing interest in health and nutrition. As such, the development of new
products and flavours will remain a key driver in attracting consumers’ attention and
encouraging trial purchases, as manufacturers seek to provide consumers with satisfying
sensory experiences.

Traditional items will continue to cater to local tastes

One of the more interesting aspects of sugar confectionery in Vietnam is that traditional sugar
confectionery is often preferred over more modern products, especially for consumption during
traditional events. This situation is most evident during Lunar New Year (Tet), when traditional
types of confectionery such as k?o l?c and chè lam are widely consumed. Many people have
strong attachments to such traditional confectionery, which is a comforting reminder of
childhood and often inspires intense nostalgia. This situation is likely to become more pertinent
during the forecast period as Vietnamese people are beginning to appreciate and value
traditions more than they did previously. This can be expected to place pressure on demand for
modern commercial brands in all categories of sugar confectionery throughout the forecast
period.
However, more players are investing in the category, particularly in terms of new product
development and it is expected that there will be many more new launches in the coming years.
Recent successful introductions include Boom Jelly (by Orion) and Playmore (by Mars). In
addition, whilst the hard texture of boiled sweets is very familiar amongst Vietnamese
consumers, they are starting to increasingly enjoy the flexible and soft texture of pastilles,
gummies, jellies and chews. This category is still quite novel in the country and as consumers
emerge from the pandemic, they will be keen to have new experiences and try new foods,
including in sugar confectionery. The soft texture will also make such products suitable for
children. As such, by offering products in the shape of, for example, cute animals, fruits or toys,
the subcategory of pastilles, gummies, jellies and chews will become even more attractive to
children. It is therefore likely that manufacturers in this category will focus their efforts on making
products suitable for children and turn them into the key target audience.

E-commerce will have A significant impact on demand

E-commerce is poised to have a significant impact on growth in sugar confectionery in
Vietnam during the forecast period, driven by factors such as such as increasing internet
penetration, the convenience of online shopping and competitive pricing, including regular
discounts and promotions. As more international and local companies make their debut on e-
commerce platforms such as Shopee, Lazada and Tiki, they will be able to introduce new
products to potential customers with greater efficiency. Digital marketing will also help
companies to build relationships with their customers and to reach out to a broader consumer
base.

CATEGORY DATA
Summary 1 Other Sugar Confectionery by Product Type: 2023
Product type

Jelly cups

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Marshmallows

Popping confectionery

Cotton candy

Lollipop and bubble gum hybrid

Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 1 Sales of Sugar Confectionery by Category: Volume 2018-2023

'000 tonnes
2018 2019 2020 2021 2022 2023

- Other Sugar 44.1 46.7 50.0 52.2 56.0 58.0

Confectionery
- Toffees, Caramels and 2.1 2.1 2.2 1.8 1.6 1.4
Nougat
- Pastilles, Gummies, 38.4 40.2 43.1 38.4 46.4 47.3
Jellies and Chews
-- Standard Mints 0.3 0.3 0.3 0.3 0.3 0.3
-- Power Mints - - - - - -
- Mints 0.3 0.3 0.3 0.3 0.3 0.3
- Medicated Confectionery 0.1 0.1 0.1 0.2 0.2 0.2
- Lollipops 4.6 4.7 4.8 4.7 5.0 5.2
- Liquorice - - - - - -
- Boiled Sweets 8.9 9.0 9.3 8.8 9.6 9.7
Sugar Confectionery 98.3 103.1 109.8 106.4 119.0 122.1
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 2 Sales of Sugar Confectionery by Category: Value 2018-2023

VND billion
2018 2019 2020 2021 2022 2023

- Other Sugar 2,023.5 2,266.3 2,545.7 2,723.9 3,023.5 3,254.5

Confectionery
- Toffees, Caramels and 236.5 243.5 258.8 215.8 191.7 183.3
Nougat
- Pastilles, Gummies, 2,799.5 3,107.5 3,426.1 3,110.3 3,880.4 4,116.3
Jellies and Chews
-- Standard Mints 117.0 122.9 127.8 128.2 142.7 152.8
-- Power Mints - - - - - -
- Mints 117.0 122.9 127.8 128.2 142.7 152.8
- Medicated Confectionery 35.3 40.8 66.3 102.0 116.1 129.7
- Lollipops 450.9 478.4 514.3 513.1 568.5 613.4
- Liquorice - - - - - -
- Boiled Sweets 863.5 935.1 992.3 975.7 1,127.3 1,194.9
Sugar Confectionery 6,526.2 7,194.5 7,931.2 7,769.0 9,050.2 9,645.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 3 Sales of Sugar Confectionery by Category: % Volume Growth 2018-2023

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% volume growth
2022/23 2018-23 CAGR 2018/23 Total

- Other Sugar Confectionery 3.5 5.6 31.5

- Toffees, Caramels and Nougat -8.1 -7.2 -31.0
- Pastilles, Gummies, Jellies and Chews 2.0 4.3 23.3
-- Standard Mints 3.0 4.2 23.0
-- Power Mints - - -
- Mints 3.0 4.2 23.0
- Medicated Confectionery 6.9 23.8 190.3
- Lollipops 3.7 2.7 14.5
- Liquorice - - -
- Boiled Sweets 1.4 1.8 9.4
Sugar Confectionery 2.6 4.4 24.3
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 4 Sales of Sugar Confectionery by Category: % Value Growth 2018-2023

% current value growth

2022/23 2018-23 CAGR 2018/23 Total

- Other Sugar Confectionery 7.6 10.0 60.8

- Toffees, Caramels and Nougat -4.4 -5.0 -22.5
- Pastilles, Gummies, Jellies and Chews 6.1 8.0 47.0
-- Standard Mints 7.1 5.5 30.6
-- Power Mints - - -
- Mints 7.1 5.5 30.6
- Medicated Confectionery 11.7 29.7 267.0
- Lollipops 7.9 6.4 36.0
- Liquorice - - -
- Boiled Sweets 6.0 6.7 38.4
Sugar Confectionery 6.6 8.1 47.8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 5 Sales of Pastilles, Gummies, Jellies and Chews by Type: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Gummies, Jellies and 87.9 87.9 88.2 86.3 88.0 87.9

Chews
Pastilles 12.1 12.1 11.8 13.7 12.0 12.1
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 6 NBO Company Shares of Sugar Confectionery: % Value 2019-2023

% retail value rsp

Company 2019 2020 2021 2022 2023

Perfetti Van Melle 12.9 12.5 13.3 12.5 12.7

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Vietnam Ltd
Haiha Confectionery JSC 11.6 13.0 10.1 10.8 10.7
Bien Hoa Confectionery 11.5 11.0 9.1 10.7 10.6
Corp (Bibica)
Long Hai Co Ltd 10.5 10.4 11.0 10.2 10.2
Triko Foods Co 9.5 9.6 10.3 9.5 9.5
Lotte Vietnam Co Ltd 4.0 3.9 4.2 3.9 3.8
Orion Food Vina Co Ltd - - 0.1 2.8 2.9
Mayora Vietnam Co Ltd 1.9 1.9 2.0 2.0 2.0
Hai Chau Confectionery JSC 3.0 2.3 1.9 1.4 1.1
Mars Inc 0.8 0.8 0.8 0.8 0.8
Hanh Dung Co Ltd 0.8 0.8 0.8 0.8 0.8
Trang An JSC 0.7 0.7 0.7 0.6 0.6
Liwayway Food Industry Co 0.4 0.4 0.4 0.4 0.4
Ltd
Arcor SAIC 0.5 0.5 0.5 0.4 0.4
URC Vietnam Co Ltd 0.3 0.3 0.3 0.3 0.3
Biscafun Confectionery Co 0.4 0.3 0.4 0.3 0.3
Hamido Co Ltd 0.2 0.2 0.2 0.2 0.2
Lofthouse of Fleetwood Ltd 0.1 0.1 0.2 0.2 0.2
Wrigley Vietnam Ltd 0.1 0.1 0.1 0.1 0.1
Ha Noi Confectionery Co 0.1 0.0 0.0 0.0 0.0
Others 30.9 31.3 33.8 32.1 32.5
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 7 LBN Brand Shares of Sugar Confectionery: % Value 2020-2023

% retail value rsp

Brand (GBO) Company (NBO) 2020 2021 2022 2023

Bibica (The PAN Group) Bien Hoa Confectionery 10.8 9.0 10.6 10.5
Corp (Bibica)
New Choice Jelly Triko Foods Co 9.6 10.3 9.5 9.5
Hai Ha Haiha Confectionery JSC 9.5 7.5 8.2 8.1
Long Hai Long Hai Co Ltd 5.4 5.7 5.3 5.3
Natty Long Hai Co Ltd 5.0 5.3 4.9 4.8
Chupa Chups (Perfetti Perfetti Van Melle 4.8 5.0 4.7 4.7
Van Melle Group) Vietnam Ltd
Mentos (Perfetti Van Perfetti Van Melle 3.7 4.0 3.8 3.9
Melle Group) Vietnam Ltd
Lotte (Lotte Group) Lotte Vietnam Co Ltd 3.1 3.3 3.1 3.1
Boom Jelly (Orion Orion Food Vina Co Ltd - 0.1 2.8 2.9
Group)
Golia (Perfetti Van Perfetti Van Melle 2.3 2.5 2.3 2.4
Melle Group) Vietnam Ltd
Kopiko (Mayora Indah Mayora Vietnam Co Ltd 1.9 2.0 2.0 2.0
Tbk PT)
Alpenliebe (Perfetti Perfetti Van Melle 1.7 1.8 1.7 1.7
Van Melle Group) Vietnam Ltd
Chip Chip Jellies Haiha Confectionery JSC 1.8 1.5 1.6 1.6
Hai Chau Hai Chau Confectionery JSC 2.3 1.9 1.4 1.1
Skittles Mars Inc 0.8 0.8 0.8 0.8
Hanh Dung Jelly Hanh Dung Co Ltd 0.8 0.8 0.8 0.8
Anytime (Lotte Group) Lotte Vietnam Co Ltd 0.8 0.8 0.7 0.7
Hai Ha Toffee Haiha Confectionery JSC 0.8 0.6 0.7 0.6
Trang An Trang An JSC 0.6 0.6 0.6 0.5
Oishi (Liwayway Liwayway Food Industry Co 0.4 0.4 0.4 0.4

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Marketing Corp) Ltd

Arcor Arcor SAIC 0.5 0.5 0.4 0.4
Dynamite (Universal URC Vietnam Co Ltd 0.3 0.3 0.3 0.3
Robina Corp)
Biscafun (Quang Ngai Biscafun Confectionery Co 0.3 0.4 0.3 0.3
Sugar JSC)
Haihapop Haiha Confectionery JSC 0.4 0.3 0.3 0.3
Milkita Hamido Co Ltd 0.2 0.2 0.2 0.2
Fisherman's Friend Lofthouse of Fleetwood Ltd 0.1 0.2 0.2 0.2
Volcano (The PAN Group) Bien Hoa Confectionery 0.1 0.1 0.1 0.1
Corp (Bibica)
Lolly Trang An JSC 0.1 0.1 0.1 0.1
Doublemint (Mars Inc) Wrigley Vietnam Ltd 0.1 0.1 0.1 0.1
Gold Bell Haiha Confectionery JSC 0.4 0.3 0.1 0.0
Others Others 31.4 33.8 32.1 32.5
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

Table 8 Distribution of Sugar Confectionery by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 99.5 98.7 98.2 98.1 98.0 97.8
-- Grocery Retailers 99.0 98.1 97.7 97.6 97.7 97.5
--- Convenience Retail 0.8 1.0 1.5 2.1 2.2 2.2
---- Convenience Stores 0.8 1.0 1.5 2.1 2.2 2.2
---- Forecourt Retailers - - - - - -
--- Supermarkets 6.4 6.9 7.5 8.5 8.1 8.8
--- Hypermarkets 6.0 6.1 6.4 7.3 7.1 7.7
--- Discounters - - - - - -
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco 19.9 18.8 16.8 16.9 15.2 15.5
specialists
--- Small Local Grocers 65.9 65.3 65.6 62.9 65.2 63.3
-- Non-Grocery Retailers 0.5 0.6 0.5 0.4 0.3 0.3
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty 0.5 0.6 0.5 0.4 0.3 0.3
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - - - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 0.5 1.3 1.8 1.9 2.0 2.2
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources

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Table 9 Forecast Sales of Sugar Confectionery by Category: Volume 2023-2028

'000 tonnes
2023 2024 2025 2026 2027 2028

- Other Sugar 58.0 60.3 62.9 65.9 69.2 72.9

Confectionery
- Toffees, Caramels and 1.4 1.5 1.5 1.6 1.7 1.8
Nougat
- Pastilles, Gummies, 47.3 48.7 50.3 52.3 54.6 57.2
Jellies and Chews
-- Standard Mints 0.3 0.3 0.3 0.3 0.4 0.4
-- Power Mints - - - - - -
- Mints 0.3 0.3 0.3 0.3 0.4 0.4
- Medicated Confectionery 0.2 0.2 0.2 0.2 0.3 0.3
- Lollipops 5.2 5.4 5.6 5.8 6.0 6.3
- Liquorice - - - - - -
- Boiled Sweets 9.7 9.9 10.1 10.3 10.6 11.0
Sugar Confectionery 122.1 126.3 130.9 136.5 142.8 149.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 10 Forecast Sales of Sugar Confectionery by Category: Value 2023-2028

VND billion
2023 2024 2025 2026 2027 2028

- Other Sugar 3,254.5 3,390.1 3,541.2 3,715.6 3,905.3 4,119.4

Confectionery
- Toffees, Caramels and 183.3 188.2 194.1 202.1 212.3 225.2
Nougat
- Pastilles, Gummies, 4,116.3 4,246.6 4,387.7 4,567.8 4,777.2 5,009.5
Jellies and Chews
-- Standard Mints 152.8 158.0 163.7 170.1 177.1 184.6
-- Power Mints - - - - - -
- Mints 152.8 158.0 163.7 170.1 177.1 184.6
- Medicated Confectionery 129.7 137.7 146.5 156.0 166.4 178.0
- Lollipops 613.4 634.0 656.4 683.3 717.7 755.2
- Liquorice - - - - - -
- Boiled Sweets 1,194.9 1,223.6 1,255.4 1,293.1 1,334.5 1,381.2
Sugar Confectionery 9,645.0 9,978.1 10,345.0 10,788.0 11,290.5 11,853.1
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 11 Forecast Sales of Sugar Confectionery by Category: % Volume Growth 2023-

2028

% volume growth
2023/24 2023-28 CAGR 2023/28 Total

- Other Sugar Confectionery 4.0 4.7 25.8

- Toffees, Caramels and Nougat 2.5 4.1 22.2
- Pastilles, Gummies, Jellies and Chews 3.0 3.9 21.1
-- Standard Mints 3.2 3.7 20.1

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SUGAR CONFECTIONERY IN VIETNAM Passport 9

-- Power Mints - - -
- Mints 3.2 3.7 20.1
- Medicated Confectionery 5.5 6.0 33.8
- Lollipops 3.2 3.9 21.0
- Liquorice - - -
- Boiled Sweets 1.8 2.5 13.3
Sugar Confectionery 3.4 4.2 22.7
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

Table 12 Forecast Sales of Sugar Confectionery by Category: % Value Growth 2023-

2028

% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total

- Other Sugar Confectionery 4.2 4.8 26.6

- Toffees, Caramels and Nougat 2.7 4.2 22.9
- Pastilles, Gummies, Jellies and Chews 3.2 4.0 21.7
-- Standard Mints 3.4 3.8 20.8
-- Power Mints - - -
- Mints 3.4 3.8 20.8
- Medicated Confectionery 6.1 6.5 37.2
- Lollipops 3.4 4.2 23.1
- Liquorice - - -
- Boiled Sweets 2.4 2.9 15.6
Sugar Confectionery 3.5 4.2 22.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources

© Euromonitor International