November 12, 2022

Morinaga Milk Industry Group – one of Japan’s leading dairy manufacturers officially announces the commencement of local production and sales of nutritional products in the Vietnamese market.

According to a market report released by Research and Markets, Vietnam’s dairy and dairy products industry has nearly doubled, from $4.4 billion in 2017 to $8.4 billion in 2021. The value of milk and dairy products imported into Vietnam in 2021 is 11.8 billion USD. It is forecasted to increase by 12.4% each year until 2031 ^[1] 

Meanwhile, according to the General Statistics Office, Vietnam’s liquid milk production in 2021 is estimated at more than 1,770 million liters, up 4.5% over the same period in 2020. Sales of Vietnam’s dairy market in 2020 are estimated to reach 113,700 billion VND; in 2021 it is estimated to reach 119,300 billion VND. Vietnam’s dairy industry is gradually developing sustainably, in the direction of modernity, synchronously from raw material production to finished products, meeting the increasing demand of society ^[2] 

In particular, Vietnam has a population of approximately 98.5 million people (in 2021), and according to the World Bank, the economic growth rate is expected to be 6% from 2023 onwards. With the economic life developing and people’s awareness of health increasing, experts forecast that the demand for dairy products will increase in the Vietnamese market from 2022-2031, opening up more opportunities for investors. Dairy products are expected to maintain a rapid growth rate, with the yogurt market growing at an average annual rate of 8% and the nutritional drinks market growing at an average annual rate of 14%.^[3] .

Seizing the potential of the market, Morinaga Milk Industry Group – one of the leading dairy manufacturers in Japan, with a strategy to expand its business in Vietnam, has acquired the shares of Elovi Vietnam Joint Stock Company (referred to as Elovi Vietnam). From June 2021, Elovi officially became a subsidiary of The Morinaga Milk Industry Group.

Using advanced production technologies and more than 100 years of experience in developing dairy products in the Japanese market, Morinaga Milk Industry Group focuses on researching healthy and nutritious product lines, meeting the health needs of all ages. In the “Mid- and long-term sustainable development 2030” plan, Morinaga Milk Industry Group has set a goal of “contributing to the health of 300 million people globally”^[4], by providing products with high-quality, unique products to the business.

Along with that, to strengthen business activities in potential markets like Vietnam through exploiting new sales channels, the Group’s products (including yogurt, and nutritional drinks) Morinaga Milk Industry will be produced and distributed nationwide by Elovi Vietnam.

Officially selling nutritional products commercially in Vietnam from November 2022, Morinaga Milk Industry Group has launched 2 products:

(1) Morinaga Climeal Nutritional drink for adults.

(2) Morinaga Zero-Fat Yogurt – 0% fat, low sugar, low calories.

Climeal is a nutritious drink that has been loved by Japanese people for many years. When brought to Vietnam, it was researched by the Product Development department of Morinaga Milk Industry to change the recipe to suit the taste of Vietnamese people. Climeal converges many advantages from formula to product design. In addition to 27 vitamins and minerals, including those that are often deficient in middle-aged people such as Vitamin B1, B6, B12, folic acid, protein, calcium, and fiber, Climeal also provides up to 10 billion LAC-Shield® beneficial bacteria – a strain of bacteria pioneered by Morinaga Milk Industry Group and selected from thousands of lactic acids. LAC-Shield® is clinically proven to improve immunity, prevent influenza, increase resistance to infections and enhance the effectiveness of influenza vaccines. With nutritional content equivalent to 260 Kcal in each 190ml box and 3 delicious flavors, Climeal is just right to replace a side meal for adult people.

MORINAGA CLIMEAL NUTRITION DRINK –VANILLA FLAVOR

MORINAGA CLIMEAL NUTRITION DRINK –BANANA FLAVOR

MORINAGA CLIMEAL NUTRITION DRINK –CORN FLAVOR

In addition, Morinaga Milk Industry Group always strives to promote the use of environmentally friendly packaging, so the lid of the Climeal product box has 42% of its ingredients made from bioplastic. This is plastic produced by synthesizing renewable organic-based materials, demonstrating the group’s commitment to sustainable development and contributing to reducing global warming.

Morinaga Zero Fat Yogurt Less Sugar Yogurt is the second product brought to the Vietnamese market. This is a famous Zero – Fat yogurt product in Japan with two delicious flavors Less Sugar and Less Sugar Aloe Vera. The product retains its mild acidity, coolness, and natural sweetness with a fermented formula from Japan. Each box contains 10 billion LAC-Shield® beneficial bacteria to help keep the digestive system healthy and boost immunity.

MORINAGA ZERO FAT YOGURT LESS SUGAR	MORINAGA ZERO FAT YOGURT LESS SUGAR ALOE VERA

Overview of Elovi Vietnam Joint Stock Company:

Elovi Vietnam Joint Stock Company (a member of Morinaga Milk Industry Group) was established under the business license number 1702000074 issued by the Department of Planning and Investment of Thai Nguyen province on May 10, 2002. Elovi Vietnam Company currently owns one of the largest dairy factories in Vietnam with a capacity of 80 million liters per year. Located on 21 hectares of land in Thuan Thanh Ward – Pho Yen City – Thai Nguyen Province, right next to National Highway 3, Elovi Vietnam Factory is invested in synchronization with the world’s leading advanced equipment and technology of the Tetra Pak Group – Sweden.

In 2021, Elovi Vietnam officially became a member of the Morinaga Milk Industry Group, one of Japan’s leading corporations in milk and dairy products.

Overview of Morinaga Milk Industry Corporation:

Established in 1917 in Japan, Morinaga Milk Industry Corporation (Morinaga Milk Industry Co., Ltd.) has always focused on manufacturing and trading dairy products. Since 2010, the group has officially started exporting infant formula to the Vietnamese market. In 2020, the Morinaga Vietnam Dairy Industry Joint Stock Company was established. In 2021, the company launches operations in Vietnam, after merging with Elovi Vietnam Joint Stock Company. With its exclusive product research and development capabilities, Morinaga Milk Industry Group brings Vietnamese consumers safe and high-quality products, while always making great efforts in research and development plans. develop products, and maximize the benefits of milk for human health.

   

[1] https://www.sggp.org.vn/ky-vong-thi-truong-sua-tiep-tuc-tang-truong-841730.html

[2] https://baochinhphu.vn/doanh-thu-thi-truong-sua-viet-nam-dat-119300-ty-dong-nam-2021-102220601161219471.htm

[3] Citing data from Mizuho Bank research December 2021

[4] Planned revenue of health product line from 2021 to 2023, expected reach to participate in health promotion and food education activities organized by the corporation.