Acecook Vietnam, a subsidiary of the Japanese instant noodle firm Acecook, has said it will begin operating a VND 2,200 billion or US$ 86.6 million facility in the northern province of Hung Yen in the second quarter of 2027.
Of note, Acecook entered the Vietnamese market in 1993 and has become one of the country’s leading noodle businesses. Currently, the firm owns 11 factories across the country with its 12th factory, worth $200 million, currently underway in the Mekong Delta province of Vinh Long.
Notably, Vietnam was among the top three markets for instant noodles globally over the three years ending in 2022, according to the World Instant Noodle Association. Vietnamese consumed approximately 8.48 billion packs of instant noodles in 2022 collectively or 85 packs per person.
The country’s instant noodle market comprises about 50 manufacturing enterprises, both domestic and foreign. Acecook and Masan together hold the largest market share of 33 percent at the end of 2022, according to a report by UK-based market research firm Euromonitor.
See also: How to Open a Factory in Vietnam: Ultimate Guide 2024