According to the company's recently released Q1/2026 financial report, Masan Consumer's cumulative net revenue for the first three months of 2026 rose by 13,1% year-on-year. This increase aligns with the company's full-year target range of 11-15%, demonstrating it is on track with its plans from the very first quarter.

Several key categories drove this growth. The seasoning segment increased by 17,1%, convenience food by 14%, and home and personal care (HPC) by 34,2%. MCH's product portfolio is performing consistently, reducing the risk of reliance on a single category. Notably, fish sauce remained the primary growth driver for the seasoning category, contributing approximately 80% of the segment's total growth in the first quarter. The premium convenience food segment also recorded an 18% growth.

Customers browsing Nam Ngu fish sauce products. Photo: Masan

Amidst the fast-moving consumer goods (FMCG) sector's modest growth, these results demonstrate a recovery in consumer demand and the effectiveness of its new operating model, according to the company.

A key factor supporting this growth is the direct distribution system, Retail Supreme. This model continues to expand in scale and improve efficiency. By the end of march, the system reached approximately 430,000 points of sale, with about 33,000 carrying the full product portfolio. The number of products per order increased to approximately 5,4 SKUs. These changes demonstrate the company's success in both expanding its market reach and enhancing the value generated at each sales point.

According to the plan, Retail Supreme is expected to contribute 30-40% of MCH's revenue growth in 2026. This means future growth will stem from both expanding its scale and optimizing the existing distribution system.

Customers choosing Omachi products. Photo: Masan

Additionally, this distribution system continues to support new product categories. Home and personal care products and beverages, in particular, are expanding into the general trade (GT) channel following a successful trial phase. The expansion of the on-premises channel (in-store consumption) since march also lays the groundwork for bottled beverages to recover growth in the upcoming quarters.

Within Masan Group's structure, Masan Consumer serves as the primary driver of cash flow and profit. The nature of essential consumer goods helps maintain stable demand and profit margins. Its return to growth from the first quarter contributes to strengthening the group's overall results.

From a group perspective, with stable consumer segment growth and effective expansion of its retail arm (WinCommerce), Masan's consumer - retail - technology ecosystem is starting to operate in synergy. This synergy is crucial for driving consolidated profit growth and unlocking revaluation potential in the medium and long term.

Hoang Dan

Masan Group is one of Vietnam's leading consumer and retail enterprises. With nearly three decades of operation, the company boasts a diverse portfolio of fast-moving consumer goods (FMCG) across categories such as seasonings, convenience foods, beverages, and home and personal care. Masan Consumer features familiar brands including Chin-su, Nam Ngu, Omachi, Kokomi, and Wake-up 247. Its products are present in over 98% of Vietnamese households and exported to more than 26 countries globally.