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Market ends flat on rising selling force
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| Nestlé has launched its first Maggi fish sauce products in Việt Nam. It is also its first ever entry into the global fish sauce market. — VNS Photo |
Viet Nam News
HCM CITY — Nestlé Vietnam has entered the fish sauce market by launching its first Maggi fish sauce products.
The company said the sauces are made from natural ingredients like Phú Quốc black anchovy essence and Bà Rịa sea salt and are free of preservatives.
According to a study by Kantar World panel, 97 per cent of Vietnamese families in urban areas use fish sauce in their meals and per capita consumption is around 11 litres a year.
The market is worth over VNĐ8 trillion (US$347.8 million) a year, with 500 million litres consumed, making it large and lucrative enough for the company to enter, Nguyễn Thị Minh Nguyệt, food division director at Nestlé Vietnam, said.
The products come in two options, one designed for southern consumers and the other for northern consumers.
Maggi has been well-known to Vietnamese consumers since 1912, with products such as soy sauce, seasoning and oyster sauce. — VNS
