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After nearly 30 years in the market, Masan Consumer (MCH) has become a key part of daily life for millions of Vietnamese households. Building on this strong consumer trust, the company has also earned the confidence of investors. Over three decades, Masan Consumer has served billions of meals, grown its market presence internationally, and emerged as one of Vietnam’s leading fast-moving consumer goods (FMCG) firms in terms of revenue, profit, and market capitalisation.
The company remains steadfast in its mission of serving consumers, which is reflected through three phases of strategic development. The first phase (1996–2010) was MCH’s beginnings in Vietnamese kitchens, when the company conquered the Vietnamese taste with familiar products such as fish sauce, soy sauce, and chilli sauce –staple condiments in every family meal.
The next phase (2010–2020) marked the company’s expansion into modern living spaces, from living rooms to bathrooms, when the company entered the beverage, coffee, and personal and home care products, affirming its position in many essential consumer goods segments. Entering the third phase (2020 to present), MCH undergoes a drastic transformation, focusing on premiumisation, out-of-home consumption, and a global strategy to bring the quintessence of Vietnamese cuisine to the world.
Currently, MCH products are present in 98 per cent of Vietnamese households and available in 26 export countries. In 2024, the company posted a revenue of $1.17 billion, an increase of 9.4 per cent on-year, underscoring the resilience of a customer-centric brand.
MCH is one of very few Vietnamese businesses with a strong brand portfolio spanning most FMCG segments. Each brand generates an annual revenue of thousands of billions of VND. This serves as a clear testament to the company’s leading position and customer trust in Vietnamese brands.
Its flagship brand, CHIN-SU chili sauce, is closely linked to the promotion of Vietnamese flavours. Driven by innovation and global ambitions, CHIN-SU leads the domestic chili sauce and high-end fish sauce markets, ranks first on South Korea’s Coupang platform, and is among the top 10 on Amazon in the United States.
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Omachi continues to affirm its pioneering role in the premiumisation trend of the convenience food industry, enabling Masan Consumer to expand its market share in the high-profit margin segment. Meanwhile, Nam Ngu is serving more than 72 billion meals per year. As the most chosen fish sauce brand by Vietnamese people, Nam Ngu represents more than 68 per cent of the market share nationwide.
In addition, Kokomi is considered the ‘national noodle’ in the mass-market instant noodle segment, covering millions of points of sale in rural areas, while Wake-Up 247, a coffee-flavoured energy drink, has carved out its own niche and become popular among young consumers.
Thanks to its multi-industry and portfolio of strong branda, MCH will consolidate its position as one of Vietnam’s leading FMCG enterprises. More than 72 per cent of its revenue comes from strong brands – a benchmark few FMCG firms achieve.
While more than 60 per cent of Vietnam’s population still lives in rural areas, MCH is one of the few FMCG companies operating a separate and comprehensive distribution system, covering both general trade and modern trade channels. It boasts a nationwide distribution network of 313,000 points of sale in general trade and 8,500 points of sale in modern trade, ensuring the availability of products from urban to rural areas.
Leveraging synergy with WinCommerce – Vietnam’s largest modern retail chain with over 4,300 WinMart/WiN/WinMart+ stores, MCH products can reach customers within just 2–3 weeks of launch. The company also takes advantage of the WiN Membership scheme with more than 11 million users, enabling customer data analysis to optimise products, promotions, and consumer experience.
MCH currently operates a chain of modern factories certified under international standards across Vietnam, from the expanded Ho Chi Minh City – Binh Duong area, Dong Thap – Tien Giang, Binh Thuan, to Hung Yen and Bac Ninh in the North, ensuring flexible and efficient production capacity on a national scale. The factories feature automated production lines, real-time quality control, and QR-based traceability systems. This is a launchpad for Masan Consumer to meet domestic demands and realise its Go Global strategy.
In the 2017–2024 period, the company achieved a compound annual growth rate of about 13 per cent, an earnings before interest, taxes, depreciation, and amortisation margin of roughly 26 per cent, and a return on invested capital exceeding 200 per cent, reflecting excellent capital efficiency amidst a volatile economic environment.
By remaining steadfast to the long-term strategy and effective operational capacity, Masan Consumer maintains stable growth through many economic cycles, thereby being considered by many investors as one of the ‘national stocks’ of the Vietnamese FMCG industry.
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MCH poised to become Vietnam’s new ‘national stock’
Masan Consumer’s MCH shares are set to list on the Ho Chi Minh Stock Exchange (HoSE), with strong potential to become the country’s next “national stock”. |
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Masan Consumer’s S&P Global ESG Score outperforms over 85 per cent of global peers
Masan Consumer has announced that the company has achieved a 48 S&P Global ESG score from S&P Global, the world’s leading provider of credit ratings. |
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Masan Consumer eyes growth rebound and market listing by 2026
Vietnamese condiment brands are making new inroads into major international retail chains, marking another milestone in the country’s consumer goods exports. |
