Vietnam Milk Powder Market

Vietnam Milk Powder Market Overview:

The Vietnam milk powder market size reached USD 182.50 Million in 2024. The market is projected to reach USD 307.04 Million by 2033, exhibiting a growth rate (CAGR) of 5.34% during 2025-2033. The market is propelled by the increasing consumer demand for easy and enduring dairy substitutes, with a boost from an expanding urban population and shifting food habits. Furthermore, growing awareness of nutritional values, especially among health-aware mothers for fortified products for infants and children, is further supporting market growth. Additionally, the growth in retail networks is significantly augmenting the Vietnam milk powder market share.

Vietnam Milk Powder Market Trends:

Rising Demand for Infant and Pediatric Nutrition

A significant trend shaping the market is the growing preference for infant and pediatric nutrition products. With an expanding middle-class population and rising disposable incomes, parents are increasingly prioritizing high-quality nutrition for children, creating a strong demand for specialized milk powder formulations. The country’s relatively young population structure, coupled with urbanization, has resulted in heightened awareness of the importance of early-life nutrition. Moreover, multinational and domestic brands are introducing fortified milk powders enriched with vitamins, minerals, and probiotics to meet the evolving needs of health-conscious parents. Furthermore, Vietnam’s government has actively promoted child health initiatives, which indirectly support the adoption of milk powder as a reliable dietary option. Also, the shift from traditional breastfeeding practices to convenient, scientifically formulated products has contributed to market expansion. Premiumization is evident, with parents opting for imported or internationally certified brands, reflecting consumer trust in quality and safety standards. This trend continues to shape market strategies, driving innovation and diversification in product offerings.

Increasing Popularity of Adult and Functional Milk Powders

Another notable trend is the rising adoption of adult-oriented and functional milk powders in Vietnam. According to industry reports, in 2024, Vietnam’s elderly population aged 60 and above had risen to 14.2 million, marking an increase of 2.8 million compared with 2019 and 4.7 million compared with 2014. Looking ahead, demographic forecasts indicate that this number is expected to climb further, reaching approximately 18 million by 2030. As the population ages and lifestyle-related health concerns become more prevalent, consumers are seeking dairy-based solutions that cater to wellness and disease prevention. Adult milk powders fortified with calcium, protein, and omega-3 fatty acids are gaining traction, especially among elderly groups aiming to maintain bone strength and overall vitality. Additionally, busy working professionals are turning to functional milk powders as a convenient source of energy, immunity support, and digestive health. Manufacturers are diversifying product portfolios by introducing lactose-free, low-fat, and sugar-reduced variants to address dietary restrictions and health-conscious preferences. Marketing strategies increasingly highlight scientifically backed claims, aligning with consumer expectations for evidence-based nutrition. This trend is also supported by Vietnam’s growing health and wellness industry, where rising disposable incomes allow consumers to invest in premium, functional dairy products. As a result, adult and functional milk powders are transitioning from niche categories into mainstream consumption patterns.

Expansion of E-Commerce and Modern Retail Channels

The expansion of e-commerce and modern retail formats is playing a crucial role in propelling the Vietnam milk powder market growth. Digitalization, rising smartphone penetration, and the growing trust in online shopping have made e-commerce platforms a preferred channel for purchasing milk powder products. Consumers benefit from greater accessibility, promotional discounts, subscription models, and product authenticity checks offered by leading platforms. In addition, modern trade outlets such as supermarkets, hypermarkets, and convenience stores are expanding across urban and semi-urban areas, offering consumers wider product visibility and variety. The shift in distribution channels also allows international players to penetrate the market more effectively, as imported milk powder brands are prominently featured in both physical and digital retail spaces. This trend is further supported by the pandemic-driven acceleration of online purchasing behavior, which has created long-term changes in consumer buying habits. Retailers and manufacturers are increasingly investing in omnichannel strategies, blending online convenience with offline experience, thereby strengthening overall market accessibility and reach.

Vietnam Milk Powder Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product type, function, and application.

Product Type Insights:

• Whole Milk Powder
• Skimmed Milk Powder

The report has provided a detailed breakup and analysis of the market based on the product type. This includes whole milk powder and skimmed milk powder.

Function Insights:

• Emulsification
• Foaming
• Flavouring
• Thickening

A detailed breakup and analysis of the market based on the function have also been provided in the report. This includes emulsification, foaming, flavouring, and thickening.

Application Insights:

• Infant Formula
• Confectionery
• Sports and Nutrition Foods
• Bakery Products
• Dry Mixes
• Fermented Milk Products
• Meat Products
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and South Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Milk Powder Market News:

• In October 2024, the A2 Milk Company officially launched its premium dairy products in Vietnam, introducing six items, including A2 Platinum junior milk drink, maternal nutrition, milk powders, and UHT long-life full-cream milk. The company held a launch event in Hanoi in September and participated in the VietBaby Fair in September to showcase its products. The A2 Platinum range began appearing on retail shelves in late August, ahead of the trade fair.

Vietnam Milk Powder Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam milk powder market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam milk powder market on the basis of product type?
• What is the breakup of the Vietnam milk powder market on the basis of function?
• What is the breakup of the Vietnam milk powder market on the basis of application?
• What is the breakup of the Vietnam milk powder market on the basis of region?
• What are the various stages in the value chain of the Vietnam milk powder market? 
• What are the key driving factors and challenges in the Vietnam milk powder market?
• What is the structure of the Vietnam milk powder market and who are the key players?
• What is the degree of competition in the Vietnam milk powder market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam milk powder market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam milk powder market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam milk powder industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.