Vietnamese chocolate producers are strategically tapping into the local market’s potential, expanding their reach and improving their product offerings. As a leading brand, Marou plans to open additional Maison Marou outlets in cities such as Da Nang and Da Lat. These high-end coffee, cake, and chocolate chains will join the eight existing stores in Ho Chi Minh City, Hanoi, and Binh Duong province.
The international reputation of Vietnamese cocoa has grown significantly, with Marou’s chocolate earning the title of the best chocolate bar in the world by the New York Times. Consequently, demand for Vietnamese cocoa has surged. Marou aims to become Asia’s number one vertically integrated chocolate maker and retailer by 2024.
Puratos Grand-Place, the current B2B chocolate sector leader in Vietnam, is focusing on research and development to bring the best chocolate products to the market. Their 60 DAYS chocolate product received Carbon Neutral Certification (Scope 3) from CO2logic, demonstrating their commitment to sustainability.
Several other Made-in-Vietnam chocolate brands, such as Vesococa, The Cocoa Project, Belvie Chocolate, Alluvia Chocolate, Stone Hill, and Legendary Chocolatier, are successfully building their brand image and contributing to the domestic chocolate market’s growth. These companies also aim to bring Made-in-Vietnam chocolate to international markets.
Vietnam’s chocolate market is expected to reach $55.92 million in revenue in 2023, with a compound annual growth rate (CAGR) of 1.21% in the 2023-2025 period, according to Statista. This growth potential is drawing local chocolate producers to develop resources and strategies to meet customer demands and make full use of Vietnam’s cocoa resources.
Source: Statista
Despite the opportunities, local chocolate producers face challenges, such as high rents, unfavorable rental conditions, and competition for prime locations. To overcome these obstacles, businesses in the chocolate market need more support from the government. For example, Marou works closely with local and provincial governments to promote sustainable initiatives in cacao development and farmer training.
In conclusion, Vietnam’s chocolate market presents significant potential for growth and innovation, offering ample opportunities for buyers interested in sourcing premium Vietnamese products.
Vietnam Sourcing