Ottogi Vietnam Co., Ltd (Vietnam)

Being a subsidiary of OTTOGI CORP from South Korea, the subject specializes in manufacturing mayonnaise, ketchup sauces, vinegar, mustard, noodles, crispy flour, etc. In addition, the subject also imports and distributes products of OTTOGI CORP such as noodles, vermicelli, seaweed, spices and sauces,... The subject also researches, develops and supplies products at the request of famous fast food brands such as McDonald's, Lotteria, Domino Pizza, Tous Les Jours, Mom's Touch, BBQ,... The company's products are available at most famous supermarkets in Vietnam such as Lottle Mart, Maximark, Aeon Citimart, Coop Mart, E-mart, Big C, Bach Hoa Xanh,… Since 2011, the subject began to export its products to South Korea. Until 2020, its noodle product is available in the USA market. Recently, its products are exported to Thailand.    Main factory of the subject is located in Binh Duong Province. Since first quarter of 2016, the subject has invested other factory in Yen Phong Industrial Park (investment capital of USD 10 million). This factory specializes in producing instant noodles and officially went into operation in 2018. Since then, the company has promoted the development of its traditional distribution network. From 2018 until now, the company has covered the market from North to South. In most provinces and cities, the company has distributors or agents. Specifically, it has more than 100 distributors nationwide, of which about 60% of distributors are from Da Nang city to the southern provinces and about 40% are from Da Nang city to the northern provinces. Currently, total number of employees in this company is about 270 people (including 2 factories and 2 representative offices). Currently, businesses in the spice and flavoring industry are developing sustainably in the direction of gradually reducing raw products and increasing intensively processed products with higher added value. In just a short time, many food businesses have invested in production lines to join the new competition. In addition to seasoning products such as dipping sauces, seasoning seeds, and MSG, there is no longer much room for product development, so manufacturers are turning to compete for market share of marinating and dipping spices. To enrich their goods, companies choose the simplest way to provide many types of packaging so that customers can easily choose according to their needs. Accordingly, spices are now not only in powder form, but also in tablet form, thick sauce... The attractiveness of the spice market has attracted a series of international corporations to Vietnam such as Unilever, Ajinomoto, Miwon, Nestlé... Not accepting the monopoly of imported goods, domestic enterprises also encroached when step by step introduce spices for dishes from domestic to foreign. The High Quality Vietnamese Goods Business Association commented that the spice market still has a lot of potential and has an annual growth rate of 4% - 5%. A seemingly small market, but when invested properly, businesses can easily earn hundreds of billions of dong each year just from selling salt jars or sauce packets to housewives. Because of the attractiveness of this market, there is fierce and lively competition between Vietnamese spice making units, multinational companies and imported units.For the instant noodle market in recent years, there has been extremely rich in variety and price. Currently, there are more than 50 instant noodle manufacturers in Vietnam, in which Acecook, Masan and Asia Food account for about 70% of the market share. In addition to domestic instant noodle companies, the market also has many imported South Korean noodle products such as black soy sauce noodles, or Udon noodle products... In 2022, Vietnam ranked 3rd position in the world in terms of total consumption of instant noodles, an increase of approximately 29% compared to 2020 (8.5 billion packages). In particular, the instant noodle industry plays an important role in relief programs in natural disaster areas such as earthquakes, volcanoes, storms and floods... Most recently, under the impact of the epidemic, even during the recovery period, the role of this food has become even more important. These have pushed this product to grow strongly in recent years.