"In 2023, in the context of a global economic slowdown, the domestic Food and Beverage (F&B) industry also faced many challenges. Inflation and fluctuations in the consumer price index (CPI) stood at 4.16% and 3.25% respectively in 2023 (according to a report from the General Statistics Office). Economic recession and inflation caused a decline in consumer purchasing power compared to before, while food consumption by companies and industrial parks sharply decreased due to reduced production scales and orders.
In 2024, the forecast of Vietnam's economic recovery and the rebound in people's income, along with stimulus measures through a 2% reduction in value-added tax, will make important contributions to the robust growth of the food industry. It is expected that the market value of the F&B industry will surpass the 655 trillion VND mark with key trends including: shifting towards a healthy
lifestyle, focusing on health-protecting and nutritious foods; emphasizing food safety and environmental protection, and sustainable development; applying technology and digital transformation."
As one of the major companies in the Agriculture and Food industry, in response to the difficulties faced by the entire industry in 2023, Mavin Group has chosen a more solid path, accepting the slowdown in the growth of the food industry to invest in research and development, and focusing on diversifying its product portfolio to match customer tastes and catch the wave of recovery in 2024.
According to a representative from Mavin Foods, Mavin's processed food production division, in 2023, Mavin Foods' product portfolio began to be "nurtured" and enriched with new products/SKUs such as Vealino 23, Bacon 200g, Pork 200g, Ham 250g, Fried Pork Spring Rolls, and more. Alongside the development of new products, the company has also begun exploring retail and online sales, catching the wave of Industry 4.0 technology and digital transformation by building a team of retail collaborators, selling on Shopee e-commerce platform, through social networks, and through smartphone apps.
The Mavin Foods store on the Shopee platform was launched by Mavin Foods at the end of 2023.
From the beginning of 2024, in light of positive forecasts for economic growth, particularly promising signals from the F&B market, in addition to anticipating the recovery trend to increase revenue, Mavin Foods continued to invest in R&D to create a competitive advantage. Many new products launched in the first quarter of 2024 have successfully caught market trends and have been well-received and highly rated by customers. Among them, the fresh Chinese sausage line has been causing a sensation in the market, including products like fresh Chinese sausage, grilled fresh Chinese sausage, and fresh Chinese sausage with Hong Kong flavor.
Ms. Tra My (Hanoi), a loyal customer of Mavin Foods' sausages, said: "Mavin Foods' fresh Chinese sausage products are very delicious, not greasy, and not overly sweet—definitely a 'must-try' product from Mavin Foods. I have recommended this product to many friends and family, and I have decided to support Mavin Foods for the long term."
In addition, the fresh pork spring rolls, a new addition to Mavin Foods' product portfolio, are also continuing to receive attention from agents, distributors, and customers.
In the near future, Mavin Foods is researching and will continue to launch many products suitable for the tastes of young people, from popular snacks to nutritious additions to family meals, and semi-prepared meat products.
****************
Explore new products from Mavin Foods:
- Fried fermented pork roll: Clean Mavin Pork Spring Rolls 450g with a rich flavor from fresh pork, convenient for a quick meal. Just fry and enjoy. Safe, quality, nutritious, and flavorful. Easy to store, saving time for homemakers. A delicious and convenient choice for every family!
- Fresh Chinese Sausage: Fresh Chinese Sausage Mavin 500g – Clean from the source is a perfect combination of high-quality ingredients and processing techniques according to strict standards and modern European technology, creating an essential product for every family meal.
- Grilled Fresh Chinese Sausage: Special Mavin Grilled Fresh Chinese Sausage. With its characteristic rich and flavorful taste of select pork combined with safe and healthy spices, natural crispy and chewy casing, fresh Chinese sausage is not only a perfect choice for grilled Chinese sausage that is causing a sensation in the street food scene.
- Hong Kong Chinese Sausage: The outer casing is crispy and chewy, loved by young people, while the inside is moist and retains the original Hong Kong flavor.