D. Retail formulation audit (Nha Trang and Ho Chi Minh City, September 2026)

This appendix reads the retail shelf as supply-side evidence. A product label tells us which protein ingredient a Vietnamese manufacturer buys, who made the product, where the plant is, and how much protein reaches the consumer. We use the shelf to map ingredient demand and manufacturers, not to size a consumer market.

The audit covered every non-animal protein product we could find in 11 modern and specialty stores: traditional Vietnamese vegetarian food, đồ chay (mock meats, filled wrappers and ready meals), tofu, plant milks and yoghurts, vegan cheese, imported "modern" meat analogues and protein powders. The field data are cited as ¹. Trade figures, company facts and ingredient channels are cited to their own sources.

Terms used in this appendix:

• TVP: textured vegetable (soy) protein, made by extrusion.
• SPC: soy protein concentrate. SPI: soy protein isolate, the more refined, higher-protein form.
• đạm đậu nành (soy protein): the label term used for TVP, SPC and SPI alike. Labels rarely say which.
• tàu hũ ky (tofu skin, yuba). mì căn (wheat gluten, seitan).
• Hydrated: sold wet (ready-to-cook or ready-to-eat). Dry: sold dried, for example dried TVP slices.
• SKU row: one product in one store. The same product seen in three stores is three SKU rows but one unique product.

#D.1 Key findings

1. Most of the plant-protein shelf is not a protein product. Plant milks (51 SKU rows, 27%) and filled wrappers such as spring rolls, dumplings and buns (47 rows, 25%) are the two largest groups among 186 SKU rows ¹ VN-directCao. Across 43 unique hydrated foods with a label value, median protein is 4.7 g per 100 g; 53% have under 5 g and 16% reach 10 g ¹ VN-directCao.
2. Chay has two protein tiers with little in between. Filled wrappers with mung bean fillings carry 1.5 to 5.7 g protein per 100 g (median 4.0 g, 14 products). Gluten or TVP analogues carry 12 to 25 g hydrated (median 19 g, 5 products), and dried TVP or gluten slices 53 to 67 g as sold (median 64 g, 5 products) ¹ VN-directCao.
3. Every locally made product with 10 g or more protein per 100 g runs on an imported protein ingredient. All 10 such unique products (8 An Nhien, 1 Xuan Hong, 1 Au Lac) use soy protein, TVP, SPC or wheat gluten. Local foods whose main protein is domestic (mung bean, rice, vegetables) reach at most 4.6 g (median 3.0 g, n = 8) ¹ VN-directCao.
4. About 77 to 88% of SKU rows depend on an imported main protein ingredient. Of 170 SKU rows where the main protein ingredient could be identified, 77% rely on an imported one, 11% partly and 12% on a domestic one ¹ VN-directTrung bình.
5. China supplies most concentrated plant-protein ingredients. China reported exports to Vietnam in 2023 of 7,957 t of protein concentrates and textured protein (HS 2106.10), 10,028 t of HS 3504 (which includes SPI) and 10,338 t of wheat gluten ^2,3,4 VN-directCao.
6. We found no commercial TVP extrusion in Vietnam. Distributors sell Chinese SPI and gluten in 20 to 25 kg bags; one An Nhien label names SPC from Serbia; Chinese extrusion lines are offered for sale ^5,6,1,7 VN-directTrung bình. This is absence of evidence after a limited search.
7. Protein is cheapest in the least processed soy and wheat formats. Median price per 100 g of protein: tofu VND 66,265; dried TVP slices VND 64,584; hydrated gluten or TVP analogues VND 111,585; filled wrappers VND 368,798; cashew cheese VND 875,797 ¹ VN-directTrung bình.
8. The only "modern" SPC or SPI analogues are imported and cost about five times more per gram of protein than local gluten or TVP analogues (VND 542,424 to 621,528 against a median of VND 111,585 per 100 g of protein) ¹ VN-directTrung bình.
9. The mainstream frozen chay shelf is split between Vietnamese firms and Korean-owned CJ Foods Vietnam, which accounts for 20 of 186 SKU rows through Cau Tre and bibigo ^1,8 VN-directTrung bình. Imported finished products (40 rows) sit mostly in premium stores ¹ VN-directCao.
10. The natural first customers for a domestic protein ingredient are a short, Ho Chi Minh City-based list: An Nhien, Au Lac, Xuan Hong, LC Foods, Cholimex, CJ Foods Vietnam, VISSAN, Thoai An, and co-packers such as GN Foods (section D.13).

#D.2 Method

#Stores, dates and collector

One field collector working for AltProtein Vietnam visited 11 stores on three days: five in Nha Trang (Khanh Hoa) on 6 September 2026, two in Ho Chi Minh City on 16 September 2026 and four in Ho Chi Minh City on 20 September 2026 ¹ VN-directCao. The collector photographed shelves, price tags and packs, then filled ingredients and nutrition from pack photos or, where the pack was not legible, from the brand's own page or a retailer listing ("collector OSINT", with the link logged per row).

Source for the table: ¹ VN-directCao. "Imported finished rows" counts rows logged as imported, plus the five Nha Trang rows of 137 Degrees (a Thai brand logged as local in Nha Trang and reclassified; see R. Disagreements), minus one An Nhien row packed in Vietnam from an imported ingredient. Store addresses in the store log are approximate for four Nha Trang stores (map pins, not captured on site).

#What was recorded

The product log has 23 fields per SKU row: store, product name, brand, origin, category, format, pack size, shelf price, price per 100 g, a conventional equivalent price where logged, shelf placement, ingredients, and five nutrition values per 100 g or 100 ml (energy, protein, fat, carbohydrate, sodium) ¹ VN-directCao. The cleaned file retail_audit_skus.csv has 46 fields. It keeps the logged values and adds derived fields such as product type, as-sold form, formulation archetype, primary and secondary protein sources, a non-vegan flag, price per 100 g of protein, an import flag, brand owner, manufacturer, plant location and confidence.

Coverage of the key fields ¹ VN-directCao:

• 120 SKU rows have an ingredient list.
• 78 SKU rows (66 unique products) have a protein value.
• Price confidence: High for 125 rows (clear shelf tag), Medium for 27 rows (online reference price, not shelf), Low for 34 rows (shared shelf tags, unclear multipacks, one outlier).
• Row confidence (data_confidence): High 82, Medium 39, Low 65.

#Derived prices

Price per 100 g (or 100 ml) is the shelf price divided by pack size. Price per 100 g of protein is price per 100 g divided by (protein g per 100 g / 100). All prices are in VND at the shelf, including promotions where the tag showed one. Where we give USD, we convert at VND 26,000 per USD (our calculation).

#D.3 Sample structure

Source: ¹ VN-directCao. Ho Chi Minh City premium stores contributed every vegan cheese, protein powder and mushroom jerky row.

Primary protein source. The main protein ingredient named on the label (or inferred where the label lists it first among protein ingredients) groups as follows ¹ VN-directCao:

Ingredient frequency. Among the 120 rows with an ingredient list: mushroom appears in 42 rows (27 products), soy protein or TVP wording in 31 (23), soybean, tofu or soy milk in 29 (25), mung bean in 25 (16), oat in 16 (12), wheat gluten in 9 (9), tofu skin in 9 (6), pea protein in 7 (5) and cashew in 5 (5) ¹ VN-directCao. Mushroom is the most common ingredient but is used for texture and flavour, not protein.

#D.4 Classification rules

Every SKU row was classified by hand, with a note wherever a judgement was made ¹ VN-directCao.

• Product type (12 types, table D.3) and as-sold form (beverage, ready-to-cook, ready-to-eat, dry).
• Formulation archetype (A0 to A15, section D.6): a code for what the product is made of and how its protein is delivered. A0 marks rows that are not protein products or lack data.
• Primary protein family: the ingredient that supplies most of the protein, judged from label order and percentages.
• Import flag (likely_imported_protein_ingredient). Y if the main protein ingredient is soy protein, soybean, tofu, soy milk, tofu skin, wheat gluten or flour, pea, oat, almond or another imported nut, chickpea or hemp, or if the product is an imported finished good. Partial if a domestic protein ingredient such as mung bean shares the role with an imported one. N if the main protein is mung bean, rice, corn, coconut or vegetables. The flag is inferred from ingredient type, not traced to a supplier.
• Non-vegan flag: EGG or DAIRY where the label lists them. Five rows carry the flag: egg noodles in two Co.op Select vegetarian gyoza-noodle rows, skim milk powder in Thoai An chả lụa ớt xiêm chay, fresh cow milk in TH true NUT walnut, and one unconfirmed TH true NUT row ^1,9 VN-directCao. Chay (vegetarian in the Buddhist sense) is therefore not the same as thuần chay (strictly vegan).
• Brand normalisation. For example "Cau Tre (CJ Cau Tre)" became "Cau Tre (CJ Foods Vietnam)", and one Veyo row attributed to Nutifood was corrected to Vinasoy, because Quang Ngai Sugar (QNS) lists VEYO as its nut-milk brand ¹⁰ VN-directCao.
• Protein values. Values written as a regulatory minimum ("≥3.5", quoted by a price site) were excluded (1 row). Where the same product carried a label value elsewhere in the audit, that value was borrowed and flagged (8 rows in the cleaned file).
• Translation. "Wheat starch" on two An Nhien analogues with 18.8 to 19.7 g protein is almost certainly gluten (bột mì căn) and was treated as gluten ¹ VN-directTrung bình.
• Outlier. A Vinamilk plant yoghurt at VND 10,000 for 4 x 100 g was excluded from price statistics ¹ VN-directCao.

#D.5 Protein by product type

Protein content by product type and form, unique products with a label value, g per 100 g or 100 ml ¹ VN-directCao:

Readings:

• Dry and hydrated products cannot be compared directly. Dry products (n = 9) have a median of 58.3 g per 100 g; hydrated foods (n = 43) 4.7 g ¹ VN-directCao. Rehydrating dried TVP at about 1 part TVP to 2 parts water gives roughly 21 g protein per 100 g at about VND 10,900 per 100 g (our calculation: 64 g and VND 32,700 per 100 g dry, each divided by 3). That is close to An Nhien's frozen gluten fish fillet (19 g, VND 23,200 per 100 g) ¹ VN-directThấp.
• Tofu is not a fixed protein unit. Co.op Select white tofu (300 g) shows 3.8 g per 100 g, against 8.9 to 9.3 g for firmer tofus ¹ VN-directCao. Water content is a formulation choice.
• Seafood-style gel analogues (crab stick, "seafood tofu") sit at about 3 g per 100 g ¹ VN-directCao.
• Plant milks carry 1.3 to 2.5 g protein per 100 ml for soy milks and 0.7 to 1.1 g for oat and nut milks. Vinamilk's cao đạm (high-protein) plant milk reaches 5 g per 100 ml with pea protein ¹ VN-directCao.
• One brand-wide average published for Fami soy milk (1.9 g per 100 ml) conflicts with the carton labels read in Ho Chi Minh City (2.5 g) ^1,11 VN-directTrung bình. We use the carton value.

#D.6 Formulation archetypes A0 to A15

Each SKU row carries one archetype code. Protein statistics use unique products; price per 100 g of protein uses all SKU rows with both values ¹ VN-directTrung bình.

The archetypes with the most SKU rows (A1, A9, A7) are the lowest in protein. The cheapest protein per đồng (A5 dry TVP, A10 tofu, A7 soy milk, A3 gluten analogues) is all soy- or wheat-based, and therefore import-based ¹ VN-directTrung bình. Small n in most archetypes means the medians describe this sample only.

#D.7 Price per 100 g and per 100 g of protein

Shelf price per 100 g (or 100 ml) and per 100 g of protein by product type, VND ¹ VN-directTrung bình:

USD column: VND median divided by 26,000 (our calculation).

Readings:

• Protein is cheapest in tofu and dried TVP, at about VND 65,000 per 100 g of protein, and dearest in nut milks, yoghurts and cashew cheese ¹ VN-directTrung bình.
• Hydrated gluten or TVP analogues (archetype A3) cost a median VND 111,585 per 100 g of protein, about one-fifth of the imported Italian SPC or SPI analogue (A12, VND 542,424 to 621,528) ¹ VN-directTrung bình.
• Dried TVP prices are sensitive to the price source. The field log used an online reference price of VND 49,000 per 150 g for An Nhien dried slices. AEON eShop listed VND 60,000 to 65,000 per 150 g on 23 September 2026 ^1,12 VN-directTrung bình. With the AEON prices, price per 100 g of protein is 22 to 33% higher; dried TVP remains the cheapest non-tofu protein ¹² VN-directTrung bình. Both are logged in R. Disagreements.
• The same product varies in price between stores. bibigo Healthy Mandu Chay (300 g) ranged from VND 43,000 (promotion) to 56,700, and VISSAN chả giò chay (spring roll) from VND 44,900 to 60,000 ¹ VN-directTrung bình. Some of the spread is real, some is low-confidence reads. Single-store prices are not market prices.

#D.8 Chay against conventional equivalents

The collector logged a conventional (meat) equivalent for five chay SKUs, all in Lotte Mart Nha Trang, using the store's online listing. Price per 100 g, VND ¹ VN-directThấp:

Only the VISSAN pair is a high-confidence, same-brand comparison: the chay spring roll is 38% cheaper per 100 g than the meat version ¹ VN-directTrung bình. The other four pairs range from 52% cheaper to 19% dearer on low-confidence reads ¹ VN-directThấp. The field notes stated a range of 17 to 38% cheaper for same-brand spring-roll pairs ¹ VN-directThấp. Our position: chay is often cheaper than meat per 100 g of product for spring rolls; this is not established across categories (logged in R. Disagreements).

No protein values were captured for the conventional products. Because most chay wrappers hold 3 to 5 g of protein per 100 g ¹ VN-directCao, a cheaper pack is not cheaper protein. For supply-side purposes this matters: chay sells at or below the price of meat, so formulators have little room to pay more for protein ingredients.

#D.9 Import dependence of the main protein ingredient

Share of SKU rows by import flag, where the flag is known ¹ VN-directTrung bình:

Protein content by flag, unique locally made foods: N median 3.0 g per 100 g (maximum 4.6 g, n = 8); partial median 5.0 g (n = 6); Y median 7.6 g (range 1.6 to 66.7 g, n = 30) ¹ VN-directTrung bình. Domestic protein ingredients today appear only in low-protein products.

Why soybeans count as imported:

Why "domestic" mung bean is only partly domestic: Vietnam imported USD 138.3 million of mung and black gram beans (HS 0713.31) in 2023, mainly from Myanmar (65% of value), Cambodia (13%) and Argentina (8%) ¹⁶ VN-directTrung bình. The reported tonnage (103,835 t) is imputed at a uniform unit value, so it is not a measurement ¹⁶ VN-directTrung bình. Domestic mung bean production was not established. The import flag treats mung bean as domestic, so the shares above understate import dependence.

#D.10 Supply chain of the main protein ingredients

#Trade in concentrated plant-protein ingredients

China reports its exports to Vietnam by tonnage. Vietnam's own reported tonnages for these codes are imputed (every partner has the same unit value), so we use the China-reported tonnage and quote Vietnam-reported values ^17,2 VN-directCao.

Cautions:

• These codes are not an alt-protein market size. HS 2106.10 and 3504 also carry meat-processing binders, dairy and supplement protein blends and peptones. The US share of HS 2106.10 is probably dairy or supplement blends rather than TVP (not verified) ¹⁷ VN-directTrung bình. SPI is used as much by meat processors (giò chả, sausages) as by chay makers ²² VN-directTrung bình.
• The China HS 3504 unit value (USD 1.63/kg in 2023, USD 1.03/kg in 2024) is far below SPI prices, so much of that flow is probably lower-value or feed-grade protein substances ^23,20 VN-directTrung bình.
• Vietnam-reported and China-reported values differ. For HS 2106.10 from China in 2023, Vietnam reported USD 9.15 million and 1,551 t; China reported USD 12.63 million and 7,957 t ^17,2 VN-directCao. We use China's tonnage (logged in R. Disagreements).

#Textured soy protein and soy protein concentrate

• No Vietnamese TVP extruder was identified in wave 1 or wave 2 ^1,24 VN-directTrung bình.
• LC Foods specifies "soya TVP granule 4-7 mm" in a chay spring roll, a standard imported extrudate size; origin not stated ²⁵ VN-directTrung bình.
• An An Nhien chicken-ball label names SPC from Serbia; a retailer listing gives a different recipe (SPI, corn starch, wheat fibre, soybean oil). We prefer the photographed label ^1,26 VN-directTrung bình. The Serbian supplier is believed to be Sojaprotein (Becej), not verified.
• Thanh Dung, a chay maker in Ho Chi Minh City (former Binh Duong) founded in 2009, lists TVP among its products and says its raw materials are imported from the USA, Australia and Canada. Whether it extrudes or repacks is unknown ²⁷ VN-directThấp.
• A Ho Chi Minh City machinery dealer, Tan Sao Bac A, sells Chinese soy-snack extrusion lines of 100 to 2,000 kg/h and 22 to 120 kW for dried chay "beef, chicken, fish, squid" ⁷ VN-directTrung bình. This shows machines are on offer, not that TVP is made here.

#Soy protein isolate

• VMC Group (Phu Gia Viet My; Hanoi head office; claims 19 branches) sells China-origin SPI in 20 kg bags for giò chả, sausages and vegetarian meat, and names Ingreda Vietnam and Luan Kha as other soy-protein distributors ^5,22 VN-directTrung bình.
• We found no SPI, SPC, pea or rice protein isolate plant in Vietnam ^1,28 VN-directTrung bình.

#Wheat gluten

• TDGIMEX (Hanoi) sells Chinese vital wheat gluten in 25 kg bags "for mì căn and vegetarian food"; VMC Group's Da Nang branch sells Xinrui (China) gluten in 25 kg bags ^6,29 VN-directTrung bình.
• Traditional mì căn can be washed out of wheat dough at small scale, but Vietnam grows no wheat, so both routes rest on imported wheat ²¹ VN-directTrung bình. No Vietnamese wheat wet-milling (starch and gluten) plant was found. Uni-President Vietnam also mills wheat flour; whether it separates gluten was not checked ³⁰ VN-directThấp.

#Tofu skin

• Tàu hũ ky is made in craft villages from mainly imported soybeans. Example: My Hoa village, Vinh Long (former Binh Minh town, former Vinh Long province): 27 households, over 200 workers, about 7 t per day (unclear whether product or beans). Producers prefer imported beans, saying they raise quality by over 20% ³¹ VN-directTrung bình.
• Imports of tofu skin from China are likely but were not measured.

#Soybeans and crushing

• Soybeans for tofu, soy milk and tofu skin are imported (see the correction in D.9). USDA Post estimated food use at 540,000 t (MY2024/25) rising to 550,000 t ¹³ VN-directCao.
• Domestic crushing is feed-grade. VAL (Bunge-Wilmar joint venture) at Phu My 1 Industrial Park, Ho Chi Minh City (former Ba Ria-Vung Tau), reached 2.6 Mt of soybeans and nearly 2 Mt of meal a year after a USD 100 million second line (December 2025), and targets 30% of domestic soybean meal demand ^28,32 VN-directTrung bình. It has no food-grade defatted flake or soy protein line on record ²⁸ VN-directTrung bình. A food-grade stream from such a crusher is the obvious domestic feedstock for Vietnamese TVP.

• Domestic-bean tofu exists but is small. ToFu House (Van Giang, Hung Yen; founded 2021) reported 150 to 500 t per month of tofu capacity and pilot soybean fields in Hai Phong, Lang Son and former Bac Kan (now Thai Nguyen) in 2023 ³³ VN-directTrung bình.

#Pea protein, chickpea, oats and nuts

All are imported or rest on imported raw material. No Vietnamese pea protein producer was found; Vinamilk's pea protein origin is not disclosed ¹ VN-directThấp. Cashew is processed in Vietnam, largely from imported raw nuts; this is counted as partial import dependence ¹ VN-directThấp.

#A fragmented buyer base

A 2022 to 2023 survey covered 126 vegetarian food production, processing and trading establishments in Hanoi alone (422 workers interviewed; 24.5% had acceptable food safety knowledge) ³⁴ VN-directTrung bình. There are many small buyers of TVP and gluten beyond the branded makers seen on shelves.

#Ingredient cost as a share of retail price

• Dried TVP retails at 8 to 12 times the import unit value. Retail dried TVP costs VND 327,000 to 500,000 per kg ¹ VN-directTrung bình; the 2023 China export unit value for HS 2106.10 was USD 1.59/kg, about VND 41,300 per kg at VND 26,000 per USD (our calculation: 327,000 / 41,340 = 7.9; 500,000 / 41,340 = 12.1) ² VN-directThấp.
• Gluten is roughly 5 to 7% of the retail price of a 19 g protein gluten analogue (our calculation). Inputs: analogue at VND 23,200 per 100 g (VND 232,000 per kg) and 19 g protein per 100 g ¹ VN-directTrung bình; vital wheat gluten assumed at about 75% protein and supplying all the protein, so about 253 g of gluten per kg of product; gluten at USD 1.73/kg (China-reported) to USD 2.52/kg (Vietnam-reported, all origins) ^4,21 VN-directCao, converted at VND 26,000 per USD. Result: VND 11,400 to 16,600 of gluten per kg, or 4.9 to 7.2% of the retail price VN-directThấp. This is modelled arithmetic, not company cost data.

Implication: a domestic TVP needs an ex-works price near the Chinese export unit value (USD 1.59/kg, about VND 41,300 per kg at VND 26,000 per USD, our calculation; before freight, duty and distributor margin) to compete head-on ² VN-directTrung bình. Formulators may pay a modest premium for consistency, non-GMO status, traceability or local supply security, but not a large one, because chay sells at or below meat prices (section D.8).

#D.11 Technology level

• Extrusion. 26 SKU rows contain an extruded soy ingredient (TVP or SPC, stated or inferred), from An Nhien, bibigo, VISSAN, Cau Tre, Cholimex, LC Foods, SG Food, Xuan Hong and Unconventional ¹ VN-directCao. The extrusion itself appears to happen abroad (section D.10).
• High-moisture extrusion (whole-muscle texture). None seen, apart from what the imported Italian burger and sausage (Unconventional; SPC, SPI and rehydrated textured soy) may use ¹ VN-directCao.
• Fermentation. 15 SKU rows involve fermentation, all conventional: Vinamilk plant yoghurts (S. thermophilus, L. bulgaricus), cultured cashew cheeses (Kashew, Deep Blue Island) and imported nutritional yeast ¹ VN-directCao. No biomass fermentation, mycoprotein or koji-based product was seen.
• Precision-fermented or cultivated ingredients. None on any label ¹ VN-directCao.
• Mushroom as a meat base. One local product (An Nhien thịt ủ chân nấm chay, VND 136,000 per 500 g) and imported mushroom jerky. Mushrooms appear in 42 rows, but for texture and flavour ¹ VN-directCao.
• Protein upgrading. CJ Foods Vietnam's current há cảo chay (dumpling) and chả giò bánh rế chay đặc biệt labels contain no soy protein or tofu skin: mung bean is the only protein ingredient ^35,36 VN-directCao. An older Nha Trang listing of the 600 g spring roll included tofu skin, which suggests a reformulation away from soy (logged in R. Disagreements).

#D.12 Who owns the shelf

Brand owners by SKU rows ¹ VN-directTrung bình:

When CJ acquired Cau Tre is not verified: the collector notes say 2006 and an analyst recollection says 2016; wave 2 could not find the deal year ^1,38 VN-directThấp. Retailer ownership also differs: GO! belongs to Central Retail (Thailand) and WinMart to Masan (Vietnam) ¹ VN-directTrung bình.

Manufacturers and plant locations found (current province, former unit in brackets):

Mainstream makers minimise protein ingredients. The protein-dense segment is small, specialist and Ho Chi Minh City-based (An Nhien, Au Lac, Thoai An, Xuan Hong) ¹ VN-directTrung bình.

#D.13 First customers for a domestic protein ingredient

Named buyers with label evidence of the ingredient they use today ¹ VN-directTrung bình:

1. An Nhien / Pham Gia Phat: soy protein, SPC and gluten; 12 SKU rows; dried and frozen analogues ^49,50 VN-directCao.
2. Au Lac: a 25.1 g protein analogue implies gluten or soy protein; long-established Ho Chi Minh City maker with export claims ^43,44 VN-directTrung bình.
3. Xuan Hong and other dried-slice packers: soy protein, soy flour and gluten; one label at 65.2 g protein per 100 g dry ¹ VN-directThấp. The owner is not identified (see E. Directory).
4. LC Foods: TVP granules 4-7 mm ²⁵ VN-directCao.
5. Cholimex: TVP "ribs" (sườn non chay) and soy flour in bun dough; bun label 5.74 g protein ⁴¹ VN-directCao.
6. CJ Foods Vietnam: soy protein in bibigo mandu and the Cau Tre crispy line; large volumes and multinational procurement standards ^1,8 VN-directTrung bình.
7. VISSAN: soy protein and tofu skin in spring rolls, canned vegan slices; also a large meat processor using SPI-type binders ³⁹ VN-directCao.
8. Thoai An: gluten at 35% of its chả lụa ớt xiêm chay, plus soy protein ⁹ VN-directCao.
9. Retailer co-packers, such as GN Foods (Tay Ninh) for Saigon Co.op ^1,46 VN-directTrung bình.
10. Vinamilk and Vinasoy for plant-milk proteins: pea protein today; okara and soy by-products are a separate lead ¹ VN-directTrung bình.

What a supplier could displace, in order of realism (our reading of the evidence):

• Textured soy granules, chunks and slices in chay fillings, dried analogues and canned slices. The import pool is about 8,000 t a year of China-origin HS 2106.10 (2023), part of which is TVP ² VN-directTrung bình. A 5,000 to 10,000 t a year extruder would be sized to replace a large share of it if it matched price (our calculation on the same input; the TVP share of the code is unknown).
• Wheat gluten in chả, giò and seafood analogues (10,000 to 12,000 t or more a year of imports) ^4,21 VN-directTrung bình. Hard to displace: gluten gives an elastic bite that rice, mung bean or fungal proteins do not. Blends are more realistic than substitution.
• Pea protein in plant milks and yoghurts. A mung bean protein isolate is the closest functional substitute with a regional supply base (Myanmar, Cambodia, Vietnam), but it is an origin or allergen play, not a price play ¹⁶ generalThấp.
• Protein upgrading of filled wrappers (archetype A1, 38 rows, about 4 g protein). Adding 3 to 5% TVP or mung bean protein could lift these to 6 to 8 g (our estimate), but the median price is VND 11,425 per 100 g, so the added ingredient must be cheap ¹ VN-directThấp.

#D.14 Limitations

• Convenience sample. 11 stores in 2 cities on 3 days; modern and premium retail only. No wet markets, no dedicated chay shops (where Au Lac and many small makers sell), no online-only brands, no food service. The sample over-represents plant milks and imported premium goods and under-represents small chay makers ¹ VN-directCao.
• Facings, not sales. Shares are shares of observed SKU rows.
• Duplicates. Protein statistics use unique products (66 with a value); price statistics use SKU rows.
• Label values, not laboratory values. Eight protein values were borrowed from the same product's label elsewhere in the audit. One brand-wide average (Fami 1.9 g) conflicts with carton labels (2.5 g).
• Translation. Some ingredient lists were translated by the collector.
• Prices. 34 rows have low-confidence price reads; 27 rows use online reference prices, not shelf prices; one outlier is excluded.
• Import flag. Inferred from ingredient type, not traced suppliers; mung bean is treated as domestic although Vietnam imports about 100,000 t a year ¹⁶ VN-directTrung bình.
• Trade data. 2023 is the latest year reported by Vietnam to WITS at access; Vietnam-reported tonnages are imputed; the codes include non-alt-protein uses.
• Company research was cut short. The formulation agent's web search budget ran out after about 15 searches. Xuan Hong, Kashew, Deep Blue Island and GN Foods sites were unreachable; Vinamilk product pages returned errors ¹ VN-directCao.

#D.15 What a follow-up audit should capture

Designed for supply-side use (ingredients and manufacturers), at low cost:

1. Manufacturer name, address and registration number from every pack (the "manufactured by" and "self-declaration" lines). This gives plant locations directly and links products to co-packers.
2. Origin of every protein ingredient where printed ("xuất xứ", non-GMO claims, country of SPC or TVP), and the full ingredient list with percentages.
3. Nutrition panels for conventional equivalents (VISSAN giò lụa, giò thủ, chả giò with meat; Cau Tre chả giò with meat), so that price per gram of protein can be compared, not only price per 100 g.
4. Laboratory protein and moisture for 10 to 15 high-volume chay SKUs at an accredited Vietnamese laboratory (for example NIFC or a QUATEST unit; see L. Labs and talent).
5. Dedicated chay shops and wet markets: a half-day visit to three or four shops around Nguyen Kiem (near Au Lac) in Ho Chi Minh City, and small makers in Hanoi, Hue and Tay Ninh.
6. Online listings: a scrape of Shopee and Lazada chay listings for brands and prices not on modern-retail shelves.
7. A shelf-space proxy: number of facings or shelf metres per brand, to approach volume without sales data.
8. Receipt or tag photo tied to each SKU, to remove the low-confidence price pairings; and a repeat visit to the same stores to measure price variance.
9. Claim wording: chay, thuần chay, "plant-based", "100% plant protein", Halal, non-GMO, and egg or dairy content, for the labelling questions in G. Regulation.

#Gaps and how to close them

Related open questions are in Q. Open questions.

#Related data files

• retail_audit_skus.csv: 186 cleaned and classified SKU rows (46 fields).
• brands.csv: 53 brands with owner, manufacturer, plant location and main protein inputs.
• ingredient_suppliers.csv: 22 rows on trade flows, distributors, processors and craft villages.
• retail_audit_summary_archetypes.csv, retail_audit_summary_protein_by_type.csv, retail_audit_summary_price_per_100g_by_type.csv, retail_audit_summary_price_per_protein_by_type.csv, retail_audit_summary_primary_protein_family_by_type.csv: the summary tables used above.
• trade_flows.csv and feed_imports.csv: 2023 and 2024 trade in protein ingredients and 2025 soybean and soybean meal imports.
• Working papers: working-papers/field/ (raw product and store logs) and working-papers/wave1/formulation/.