Top 10 prestigious companies in the milk and dairy product sub-sector comprise Vinamilk, FrieslandCampina Vietnam, International Dairy Products, NutiFood, VitaDairy, Moc Chau Milk, KIDO Foods, Mead Johnson Nutrition Vietnam, Nutricare and Zott Vietnam.

A Sabeco beer production line. The company came out on top of the list 10 most prestigious companies in the alcoholic beverage sub-sector in 2022. - Photo baotainguyenmoitruong.vn

In the alcoholic beverages sub-sector, 10 companies on top are Sabeco, Heineken Vietnam, Habeco, Carlsberg Vietnam, Ha Long Beer and Beverage, Sapporo Vietnam, Ladofoods, AB InBev Vietnam, Huong Sen Group and Sabibeco.

Meanwhile, C.P. Vietnam, Masan MEATLife, Vissan, GreenFeed Vietnam, Vinh Hoan Corp., Dabaco Group, Minh Phu Seafood, Sao Ta Foods, Daesang Duc Viet and Nam Viet Corp. have their names on the list of top prestigious companies in the fresh and frozen foods sub-sector.

The survey conducted by Vietnam Report in August showed that 90 per cent of companies in the sector were running at over 80 per cent of their pre-pandemic capacity. Remarkably, about 60 per cent of the companies surpassed the capacity.

Roughly 86 per cent saw higher sales in general trade channel whereas the figures were approximately 85 per cent for modern trade channel and 87 per cent for e-commerce.

Two major driving forces behind the sector growth are the recovery of domestic consumption and the shift from traditional to modern channels shaped by the young.

The survey showed that 98 per cent of young people in big cities buy food and beverage in supermarkets and hypermarkets, 67 per cent do so online and 41 per cent go to convenience stores.

Over 94 per cent of companies in the sector have an optimistic outlook for the rest of 2022. The outlook is relatively similar to a recent forecast of Mordor Intelligence Inc., which said the compounded annual growth rates of the food service industry would hit 8.5 per cent between 2022 and 2027.

Vietnam Report's ranking methodology involves three main indicators, which are financial position expressed in the latest financial statements, media prestige assessed by the Media Coding method, and public opinion measured by the survey.