Vietnam is one of the countries with the highest growth potential leading up to 2050, with a population of about 98.5 million (2021) and a projected economic growth rate of around 6% from 2023 onward, according to the World Bank.
In particular, the yogurt market is growing at an average annual rate of 8%*1 and the nutritional supplement beverage market at an average annual rate of 14%*2 due to the growing health awareness of the Vietnamese people, and the market for products with a high health and nutritional value is expected to continue expanding.
Using the development technology capabilities and know-how developed in the Japanese market, the Company will expand the product lineup that contributes to health and nutrition from the and develop new sales channels to strengthen business in the Vietnamese market, which is expected to grow in the future. Morinaga Milk branded products sold in Vietnam will be produced and sold by Elovi.
In the Morinaga Milk Group 10-year Vision, the Company has set the goal of achieving a global sales ratio of at least 15% by the fiscal year ending March 31, 2029 and will strengthen sales in Vietnam. In addition, in the Sustainability Medium- to Long-Term Plan 2030, the Company is pushing forward with the development of products that take health issues into account under the commitment of “by delivering high-quality value unique to the Morinaga Milk Group, we contribute to the health of 300 million people in the Food and Wellness theme.
1) Ideal for replenishing energy and often deficient nutrients. Contains approximately 10 billion cells of the lactic acid bacteria called LAC-Shield, which was selected from thousands of those owned by Morinaga Milk.
2) As part of efforts to promote the use of environmentally friendly containers and packaging, the caps are made of 42% biomass plastic
A mild yogurt with reduced sugar and zero fat. Each pack contains approximately 10 billion cells of the lactic acid bacteria called LAC-Shield, which was selected from thousands of those owned by Morinaga Milk.