Vietnam’s baby boom lures Japanese infant milk producer
Japanese food company Meiji will set up a unit in Vietnam to import and sell infant milk powder as it looks to expand in a market where there are more births than in Japan, Nikkei Asia reported.
Wholly owned Meiji Food Vietnam will launch on April 1 in Hanoi with a capitalisaiton of around 200 million yen ($1.84 million).
Meiji said there was a huge business opportunity in Vietnam as the country had about 1.5 million births a year, 70 per cent more than in Japan, and the number is projected to keep growing.
The Japanese dairy and confectionery company mainly ships milk powder from Japan for sale in Vietnam. It intends to continue doing so, with no plans to construct a local factory.
Nutrition education planned
In Vietnam, Meiji’s nutritionists have provided dietary advice to workers at Japanese-owned factories since 2018. The company also sells fortified milk for adults there. It aims to provide nutrition education to 650,000 people in Vietnam by 2030.
The food segment of parent Meiji Holdings posted sales of 6.4 billion yen ($59 million) in Southeast Asia in its last fiscal year ended March 2020, up 12 per cent from the previous year.
Japanese food company Meiji will set up a unit in Vietnam to import and sell infant milk powder as it looks to expand in a market where there are more births than in Japan, Nikkei Asia reported. Wholly owned Meiji Food Vietnam will launch on April 1 in Hanoi with a capitalisaiton of around 200 million yen ($1.84 million). Meiji said there was a huge business opportunity in Vietnam as the country had about 1.5 million births a year, 70 per cent more than in Japan, and the number is projected to keep growing. The Japanese dairy and confectionery company mainly...
Japanese food company Meiji will set up a unit in Vietnam to import and sell infant milk powder as it looks to expand in a market where there are more births than in Japan, Nikkei Asia reported.
Wholly owned Meiji Food Vietnam will launch on April 1 in Hanoi with a capitalisaiton of around 200 million yen ($1.84 million).
Meiji said there was a huge business opportunity in Vietnam as the country had about 1.5 million births a year, 70 per cent more than in Japan, and the number is projected to keep growing.
The Japanese dairy and confectionery company mainly ships milk powder from Japan for sale in Vietnam. It intends to continue doing so, with no plans to construct a local factory.
Nutrition education planned
In Vietnam, Meiji’s nutritionists have provided dietary advice to workers at Japanese-owned factories since 2018. The company also sells fortified milk for adults there. It aims to provide nutrition education to 650,000 people in Vietnam by 2030.
The food segment of parent Meiji Holdings posted sales of 6.4 billion yen ($59 million) in Southeast Asia in its last fiscal year ended March 2020, up 12 per cent from the previous year.
