Challenge - explained

Nisshin Foods Inc., a food manufacturing arm of Nisshin Seifun Group, providing everyday processed food products covering the whole temperature range. The company was considering to expand its premix business into Vietnam. As this is the potential market with strong growth along with rising incomes, and its unique characteristics and preferences bring opportunities that food firms need to know how seize. Overseas companies were in need of indepth analysis on the market to define the potential for them. There was also an absence for market data and insight on demand & supply chain, Nisshin Foods Inc. hired FiinGroup to conduct a study Vietnam premix market for purposes of market entry.

Solution:

The deliverables include: Market sizing of local premix sector including historical analysis and forecasted growth for next 5 years Competition dynamics and in-depth market share analysis Benchmarking of leading market players in terms of financial and operational aspects. Review of regulatory and policy developments governing the food safety, especially for premix products. In-depth interviews with industry experts and market end-customers at executive level and representatives from key players in this market to grasp local insights and the practical ways of doing business of premix in Vietnam. Recommendations on market entry strategy for their premix business.

Results:

In Apr 2019, Nisshin Foods Inc launched its first 1ha premix plant in the Amata City Industrial Park in Bien Hoa, Dong Nai Province near Ho Chi Minh City, Vietnam to better serve local market.