Quang Ngai Sugar Joint Stock Company

What Quang Ngai Sugar Joint Stock Company does

Quang Ngai Sugar Joint Stock Company, operating commercially as Vinasoy, is a Vietnam-based private manufacturer of plant-based beverages founded in 1997 in Quang Ngai Province. The company produces soy milk under its flagship Fami brand and premium nut and oat milk products under the Veyo brand, alongside nutritional cereals (Vinasoy Ngũ Cốc Dinh Dưỡng) and select sugar and bottled water lines (Đường Quảng Ngãi, Đường An Khê, Thạch Bích) distributed under partnership.

Vinasoy's technology platform centers on UHT sterilization, European-origin Whole Soybean crushing technology, and natural fermentation using imported probiotic strains. The company vertically integrates upstream through its Vinasoy Soybean Applied Research Center (VSAC), which breeds proprietary non-GMO soybean varieties (VINASOY 01-CT, 02-NS, and 05) with plant variety protection, and contracts with Dak Nong farmers for domestic sourcing. Three manufacturing facilities in Quang Ngai, Bac Ninh, and Binh Duong deliver a combined capacity of 390 million liters per year and produce over 1 billion finished units annually.

Vinasoy generates revenue primarily through wholesale and retail sales of branded plant-based beverages across Vietnam and 9 international markets (Japan, South Korea, China, USA, Taiwan). Distribution spans modern trade, traditional trade, e-commerce platforms (Shopee, Lazada, Tiki, TikTok Shop), and a consumer hotline, with international export through local distributors such as Cando, Don Quijote, Top Valu, Gyomu, and Sunbelx in Japan. The company holds 92% share of Vietnam's packaged soy milk segment, has ranked among the Top 5 global soy milk companies for six consecutive years (2018-2023), and carries Vietnam National Brand status for ten consecutive years (2016-2026).

Name

Quang Ngai Sugar Joint Stock Company

Legal name

Công ty Sữa đậu nành Việt Nam Vinasoy

Website

https://www.vinasoy.com

Company type

Private

Operating status

Operating

Short description

Vinasoy (Quang Ngai Sugar JSC) is a Vietnam-based private manufacturer of plant-based beverages, producing soy milk under the Fami brand and premium nut and oat milks under Veyo. It serves over 80 million consumers across 9 countries via modern trade, e-commerce, and School Milk Programs, commanding 92% of Vietnam's packaged soy milk market.

Ownership category

akta.pro rank

Product category

Plant-Based Beverages

NAICS

Fluid Milk Manufacturing (311511), Dairy Product Manufacturing (3115)

SIC

Dairy Products (2020), Beverages (2080)

akta.pro primary industry

Plant-Based Milk Alternatives (Soy, Almond, Oat, Coconut, Rice, Pea) (AFAFAEAF)

akta.pro secondary industries

Plant-Based Dairy Alternatives Manufacturing (Milk, Yogurt, Cheese, Ice Cream) (AFAKAGAB), Plant-Based & Dairy Alternative Beverages (Oat, Almond, Soy, etc.) (CRADAHAM), Plant-Based Milk & Creamer Processing (Oat, Soy, Almond, Coconut, Blends) (AFAHAJAA)

Keywords

• Plant-based milk
• Soy milk production
• Nutritional beverages
• UHT beverage manufacturing
• Plant-based nutrition

Headquarters

HQ city

Quang Ngai

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Plant-based Beverage Sales: Revenue from manufacturing and selling soy milk, plant-based milk, and nutritional cereal products under Fami, Veyo, and other brands through retail and wholesale channels.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Quang Ngai Sugar Joint Stock Company (Vinasoy) manufactures and markets plant-based beverages including soy milk under the Fami brand, nut-based milk under the Veyo brand, and nutritional cereals under the Vinasoy Ngũ Cốc Dinh Dưỡng label. The company also distributes sugar products (Đường Quảng Ngãi, Đường An Khê) and mineral water (Thạch Bích). Production is vertically integrated from proprietary soybean breeding at the VSAC research center through manufacturing at three plants in Quang Ngai, Bac Ninh, and Binh Duong with combined capacity of 390 million liters per year.

Differentiator

Problem solved

Functional benefit

Brands

• Fami: Nhãn hàng sữa đậu nành chủ lực của Vinasoy với các sản phẩm Fami Nguyên Chất, Fami Canxi, Fami Canxi Plus, Fami Green Soy, Fami Go.
• Veyo
• Vinasoy Ngũ Cốc Dinh Dưỡng
• Thạch Bích
• Đường Quảng Ngãi & Đường An Khê
• VSAC

Products and services

• Fami Soy Milk Line

Quantifiable outcome

• 92% market share in packaged soy milk market in Vietnam (2021)
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Vietnam Red Cross (Hội Chữ thập đỏ Việt Nam)coreStrategic or Co-development Partner · 15 October 2024Partnership with Vietnam Red Cross for School Milk Program (Sữa đậu nành học đường) reaching disadvantaged children in rural areas.
• National Institute of Nutrition (Viện Dinh dưỡng Quốc gia)coreStrategic or Co-development Partner · 12 July 2023Co-organized international scientific conference on 'Plant-based Nutrition and Health Solutions for the 21st Century' with National Institute of Nutrition in July 2023.
• Japanese Retailers (Cando, Sunbelx, Don Quijote, Top Valu, Gyomu)coreChannel Partner/ Reseller/ DistributorProducts distributed through major Japanese retail chains including supermarkets and discount stores in Japan since 2021.
• Vietnamese Universities and Research InstitutescoreStrategic or Co-development PartnerCollaboration with domestic and international universities and research institutes for soybean breeding research and genetic resource development.
• Vietnam Soybean Milk Scholarship Foundation (Quỹ Khuyến học sữa đậu nành Việt Nam)coreStrategic or Co-development PartnerJoint initiative supporting education and nutrition for school children through annual scholarship and milk donation programs.
• Cu Jut Soybean Cooperative (Hợp tác xã sản xuất đậu nành Nam Dong)coreChannel Partner/ Reseller/ DistributorPartnership with Cu Jut agricultural cooperative in Dak Nong province for sustainable soybean sourcing, providing seeds, technical training, and guaranteed purchase of harvest.
• Dak Nong FarmerscoreChannel Partner/ Reseller/ DistributorContract farming partnerships with farmers in Dak Nong province for domestic soybean supply, with VSAC providing seeds, technical guidance, and guaranteed purchase.
• ProVN (Vietnam Packaging Recycling Alliance)minorStrategic or Co-development PartnerMember of Vietnam Packaging Recycling Alliance supporting sustainable packaging and environmental initiatives.

Scale indicators6 records

Recent moves11 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@VinasoyCorp
• Facebookfacebook.com/vinasoycorp

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Quang Ngai Sugar Joint Stock Company