On April 24 in Hanoi, VitaDairy Vietnam Dairy Products Joint Stock Company was honored in the top 10 fastest growing enterprises in Vietnam 2024. According to the list published by Vietnam Report, VitaDairy is the only dairy company in Vietnam. next to businesses in other fields such as Finance, Industry…
The rankings were announced within the framework of the ceremony to honor the Top 500 Fastest Growing Enterprises in Vietnam and VitaDairy was honored at position 6/10 Fastest Growing Companies in Vietnam 2024. The ranking evaluation table is based on the main criteria of compound growth rate (CAGR) of revenue. In addition, criteria such as total assets, equity, pre-tax profit and corporate reputation in the media are also used as supporting factors to determine the size and position of the enterprise in the industry. work.
VitaDairy holds the position of 6/10 fastest growing enterprises in Vietnam 2024
Five challenges of the dairy industry and VitaDairy’s impressive comeback
The year 2023 – 2024 can be considered a difficult period for Vietnam’s economy when it is negatively affected by the world economy, which is in a recession cycle. According to a Nielsen report updated to November 2023, the domestic milk and dairy products market only achieved negative growth of 15.8% with milk powder output decreasing by more than 21.5%. Although also under pressure from the whole market, VitaDairy is the only dairy company in the Top 10 fastest growing enterprises in Vietnam with a good performance record in business in terms of growth indicators of revenue, total assets, and media reputation. This achievement is a testament to the resilience and solid potential of the business.
According to unofficial information from VitaDairy, in just 5 years from 2018 to 2023, this business has had rapid development, growing 20 times in revenue. The rapid development in terms of number of employees, factory system, sales channels, market share… shows that the business scale has clearly developed in both width and depth.
A report by Nielsen IQ also shows that from 2022 VitaDairy has officially become one of the three largest powdered milk manufacturers in Vietnam, this achievement is due to the company’s success in “making waves” in Vietnam. a completely new segment of the dairy industry – Immunonutrition. The enterprise has proven its pioneering position in research achievements and scientific application to its products.
Accelerating ahead of the times and ambitious to grow market share
In recent years, VitaDairy has become a name for many companies in the industry to consider as a “case” of reference for growth in market share size in product groups. Although VitaDairy’s performance has been maintained quite stably. However, under the pressure of the dairy industry and the participation of many other giants, VitaDairy has not yet cooled down in the race to expand market share.
Recently, this giant has also invested heavily in his landmark project, which is joining hands with KPMG and SAP to launch the V-UP Digital Transformation project. This project does not stop at the business upgrading its management system, but also shows that VitaDairy is ready to accelerate to larger playgrounds from this transformation.
VitaDairy is ready to accelerate on bigger playing fields
VitaDairy’s internal strength comes from abundant resources, technology, and existing scientific application achievements. These factors have given VitaDairy the confidence to put itself on the launching pad to conquer higher positions. in Vietnam’s dairy industry. This change is not only meaningful to businesses but also brings tangible values to the community, contributing to affirming the health of the industry in particular and the economy in general.
