Why Masan Consumer Will Achieve Double-Digit Growth in 2025

Masan Consumer (MCH), a leading consumer goods company in Vietnam, is poised for even greater breakthroughs in 2025, underpinned by its clear strategy and strong growth momentum. The company’s dominant position in the industry is further bolstered by its double-digit growth across core product categories.

As per the Q1 2025 financial report, MCH recorded impressive results with a 13.8% year-over-year increase in net revenue, amounting to VND 7,489 billion. Gross profit margin remained robust at 46.7%, while operating profit (EBIT) rose in tandem with revenue growth, reaching VND 1,736 billion. This solid performance reflects MCH’s consistent ability to maintain sustainable growth, evident in the nearly 14% revenue increase in Q1.

The company’s positive trajectory is driven by pervasive growth across its product categories: Spices (up 15.9%), Beverages (up 8.7%), Coffee (up 39.8%), and Personal and Home Care products (up 13.0%). Notably, international market revenue surged by 73.2% year-over-year due to expanded exports to China, Japan, South Korea, and Southeast Asian countries. The US market currently accounts for less than 1% of total revenue.

Image: MCH’s diverse range of consumer goods, including spices, beverages, coffee, and personal and home care products

At the 2025 Annual General Meeting of Shareholders, MCH’s leadership shared their vision: “In 2024, MCH served over 72 billion meals through our fish sauce products and distributed more than 2.4 billion convenient food products. With an impressive reach of 98% of Vietnamese households and a presence in 26 international markets, MCH is poised to embark on the next chapter of our journey: ‘Leading Domestically – Stepping Out Globally.’ We are fully prepared for this growth trajectory in both domestic and global markets.”

Comprehensive Strategies for Domestic and International Markets

At the 2025 Annual General Meeting of Shareholders, Mr. Truong Cong Thang, CEO of Masan Consumer, emphasized the company’s “Leading Domestically – Stepping Out Globally” position to create superior value for consumers and shareholders. For 2025, MCH has set ambitious revenue targets, aiming for VND 33,500–35,500 billion, representing a 10–15% increase from the previous year. The company’s strategic focus encompasses the following key aspects:

In 2025, MCH plans to further its premiumization strategy in the convenient food category with the introduction of a new Omachi portfolio, “Quan Xa Chau A” (Asian Street Food). This initiative targets the affordable meal market with a price point of just $1, leveraging advanced technology used in self-heating hot pot and rice products. Meanwhile, strong brands in the spices category, such as CHIN-SU and Nam Ngu, continue to lead the market by associating their products with Vietnamese lifestyle and culinary culture.

Image: MCH’s strategic focus on premiumization and brand-building for convenient food and spices categories

At the recent Annual General Meeting of Shareholders, Masan Consumer also attributed their success to a key factor: “Focus on Core – Maximize Value.” This strategy is rigorously applied in product development through the Acceleration Model (APLM). New products are first tested at WinCommerce before their nationwide launch. This model not only significantly reduces time-to-market but also enhances the success rate of innovations. The process begins with rigorous testing at MCH’s Consumer Innovation Center (CIC) and then moves to WCM stores, where direct feedback optimizes the products. Notable brands like Wake-Up 247, Bupnon Tea365, and Chanté exemplify the effectiveness of this model, shortening time-to-market and boosting commercial success rates.

Image: MCH’s Acceleration Model (APLM) enhances speed-to-market and success rates for new products

In 2024, MCH achieved international market revenue of VND 1,300 billion, a 22% increase year-over-year. For 2025, the company aims for growth of over 20%, focusing on strategic markets such as the US, South Korea, Japan, and the EU. Leading the “Go Global” strategy is CHIN-SU chili sauce, positioned as an iconic Vietnamese culinary product with superior quality, modern packaging, and strong emotional appeal.

Foundations for Sustaining Double-Digit Growth

Beyond its strong product and brand portfolio, Masan Consumer boasts Vietnam’s leading food distribution network, encompassing over 313,000 traditional retail outlets, 8,500 modern trade outlets, and 82,000 out-of-home consumption outlets. This extensive network enables MCH to efficiently distribute its products, optimize logistics costs, and execute effective marketing campaigns.

The distribution channel is further enhanced through the WiN+ ecosystem (a pilot model of WinCommerce collaborating with traditional retail partners), providing essential products and loyalty benefits to partners and consumers. This model facilitates direct interactions with consumers and personalized experiences. The WiN membership program, with over 11 million users, serves as a “golden bridge” connecting brands, retailers, and consumers. It empowers MCH to optimize pricing, promotion, distribution, and customer care strategies.

Image: WiN+ ecosystem and WiN membership program enhance MCH’s distribution and consumer engagement

From 2022 to 2024, MCH consistently maintained a compound annual growth rate (CAGR) of 20% in net profit, with gross profit margin at 46% and EBITDA margin at 27%, placing it among the top performers in the Southeast Asian FMCG industry.

With a strong Q1 performance, a clear strategy, and robust operational capabilities, Masan Consumer is on the right track to achieve its double-digit growth target for 2025. Not only is MCH leading the domestic market, but it is also pioneering the promotion of Vietnamese cuisine globally, bringing its vision to life: “Every Vietnamese family uses Masan products every day, and every family in the world uses at least one Masan product.”