Morinaga officially launched its flagship ice cream brands Pino, PARM and MOW in Vietnam in November 2024. The products are fully imported and distributed nationwide by Morinaga Nutritional Foods Vietnam JSC, a subsidiary of Morinaga Milk Corporation.
The ice creams are now available at major retail chains including AEON Vietnam (AEON, AEON Citimart and Ministop), WinMart, Kingfood and FamilyMart, with retail prices ranging from VND 32,000 to VND 35,000 per unit.
Vietnam’s ice cream market has shown steady expansion in recent years. According to Credence Research, the market was valued at about USD 210.7 million in 2022 and is forecast to more than double to USD 405.5 million by 2030, representing a compound annual growth rate of over 8 per cent. Meanwhile, MarkNtel Advisors estimates the market size at around USD 180 million in 2024, rising to USD 245 million by 2030, with a CAGR of roughly 6.2 per cent.
Analysts attribute this growth to rising household incomes, changing lifestyles, rapid expansion of modern retail channels and evolving consumption habits, particularly among urban residents and younger consumers.
Morinaga’s decision to enter Vietnam reflects several strategic considerations beyond the country’s population of more than 100 million. Consumer preferences are shifting, with ice cream increasingly viewed not just as a seasonal treat but as a premium indulgence. Vietnamese consumers are showing greater willingness to pay for imported products that offer clear origins, quality assurance and strong brand reputations.
At the same time, Vietnam’s modern retail infrastructure has developed quickly. Supermarkets and convenience store chains such as AEON and WinMart are seen as effective platforms for introducing premium imported products to middle- and upper-income urban consumers.
The emergence of a premium ice cream segment has also created new opportunities. Morinaga’s brands benefit from decades of brand equity in Japan. Pino, first launched in 1976, together with PARM and MOW, has maintained strong domestic performance, providing a solid base for expansion into emerging markets.
All Morinaga ice cream products sold in Vietnam are manufactured in Japan under strict standards covering ingredients, production processes and food safety, according to the company.
Industry observers say Morinaga’s entry underscores a wider transformation in Vietnam’s ice cream market, which is gradually moving away from price-driven competition towards a focus on quality, differentiation and value creation, setting higher benchmarks for premium consumption.
Morinaga Nutritional Foods Vietnam., JSC
Factory: Nam Pho Yen Industry Zone, Trung Thanh Ward, Thai Nguyen Province, Vietnam.
Website: https://morinaga-nf.com.vn/
