Major Vietnamese food company, Kido has recently launched 4 products in the domestic fish sauce and seasonings sector to take advantage of the booming industry, which in 2022 was worth over Dong 35,700 billion (US$1.47 billion) with a forecast value of US$1.68 billion by 2026.
The new products of Kido Group come under the Tuong An and Tuong An Unicook brands, and were recently launched in the market on 25 December. They include Tuong An 40 protein-rich anchovy fish sauce; Tuong An 32 protein-rich anchovy fish harmonic; Tuong An Unicook meat stock powder; and Tuong An Unicook Shiitake mushroom seasoning.
Tran Le Nguyen, Vice Board Chairman and General Director of Kido Group and Board Chairman of Tuong An Vegetable Oil JSC, said that spices are an important strategic business for the group in expanding its essential food line (category).
To promote the launch into the condiment segment, the group is taking advantage of the Tuong An brand to penetrate markets, including the existing logistics network and distribution channels of 450,000 available sales points.
The launch is also timely taking advantage of the upcoming Lunar New Year holiday period.
Euromonitor International highlighted that Vietnam’s spice market grew to US$1.5 billion in 2022 with fish sauce being a leading contributor with 42% share.
In 2023, Kido acquired dumpling producer, Tho Phat International JSC which allowed it to expand further into the bakery sector. Kido currently has 3 main product lines which include cooking oil, cakes and ice cream. The entry into the spices industry marks its further diversification in the food segment.
