The Vietnam sweetened condensed milk market size was USD 33.85 Million in 2025 and is expected to grow to USD 49.21 Million by 2034, reflecting a CAGR of 4.25% during the forecast period 2026-2034. This growth is driven by the cultural embedment of sweetened condensed milk in traditional beverages like Vietnamese iced coffee, expanding café culture, urbanization, and increasing use in food service and beverage research.

Study Assumption Years

• Base Year: 2025

• Historical Year/Period: 2020-2025

• Forecast Year/Period: 2026-2034

Vietnam Sweetened Condensed Milk Market Key Takeaways

• The market size reached USD 33.85 Million in 2025.

• The market is projected to grow at a CAGR of 4.25% between 2026 and 2034.

• The forecast period for the market is 2026-2034.

• The product enjoys high cultural embedment in daily drinks such as Vietnamese iced coffee and sweets.

• Growing café culture and urbanization contribute to increasing demand.

• The market is driven by consumers’ preference for rich, decadent tastes and expanding applications in food service and home baking.

• Domestic brands hold strong consumer confidence and benefit from growing export opportunities.

Sample Request Link: https://www.imarcgroup.com/vietnam-sweetened-condensed-milk-market/requestsample

Market Growth Factors

The sweetened condensed milk market in Vietnam grew because several factors connected sweetened condensed milk historically and culturally with customary drinks and foods (people commonly make and consume sweets and Vietnamese iced coffee), which created consistent and stable demand. Cafes grew in Hanoi and Ho Chi Minh City, contributing with urbanization as they grew, and consumers preferred richer and more decadent tastes.

Another factor driving the market is the innovative use of sweetened condensed milk in cold brews, bubble tea, flavored milk beverages and other drinks, which is popularized by beverage chains and start-ups and is gaining traction among younger consumers. The texture and nostalgia associated with the food is also driving market growth.

Health trends and the availability of dairy alternatives are driving the market. For example, sugar is under scrutiny, prompting producers to offer lower sugar, organic, and plant-based products including soy- or coconut-based condensed milk products. This has afforded them youth appeal and greater accessibility to those with special dietary needs, expanding their share of that market.

Market Segmentation

• Product Type Insights:

• Flavored:Includes flavored varieties catering to changing consumer tastes.

• Unflavored: Traditional classic sweetened condensed milk remains in demand, especially in rural and older demographics.

• Packaging Type Insights:

• Cans: One of the common packaging types offering durability and convenience.

• Bottles: Widely used packaging suitable for various consumer needs.

• Tubes: Alternative packaging formats for ease of use.

• Others: Includes other packaging forms present in the market.

• Distribution Channel Insights:

• Supermarkets and Hypermarkets: Major retail channels where consumers purchase sweetened condensed milk.

• Convenience Stores: Important for quick and easy access to products.

• Online Stores: Growing in prominence, catering to tech-savvy and urban customers.

• Others: Other distribution routes contributing to market coverage.

Regional Insights

The Vietnam sweetened condensed milk market covers three major regions: Northern Vietnam, Central Vietnam, and Southern Vietnam. While the report does not specify dominance by region in numerical terms, it highlights flourishing café cultures in Hanoi (Northern Vietnam) and Ho Chi Minh City (Southern Vietnam), driving demand. This cultural presence and urbanization trends create a robust growth environment across these regions.

Competitive Landscape

The market research report includes a comprehensive competitive analysis featuring market structure, key player positioning, winning strategies, and company evaluation quadrants. Detailed profiles of all major companies have been provided, highlighting the competitive vibrancy driven by established domestic brands and their export ambitions.

Key Players

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us

IMARC Group,

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No: (D) +91 120 433 0800

United States: +1-201971-6302