Vietnam animal feed market is poised to witness substantial growth during the forecast period owing to the increasing per capita disposable income of the country which has enhanced people’s purchasing power. The country is witnessing increasing consumption of poultry and cattle meat which is serving as a key factor behind the market growth. The development in the tourism and hospitality industry is expected to further propel the growth of Vietnam animal feed market by 2028.
The Important Factors in Vietnam Animal feed Market
Vietnam animal feed market is heavily dependent on imports and the biggest import market is Argentina followed by the United States and Brazil. The country increased the import of animal feeds by 70% in 2022 as diseases and food safety issues led to the shrinking of the animal husbandry industry. The animal feed market is anticipated to undergo a high rate of growth in the next five years owing to the increasing consumption of pork and other red meat in the country.
Vietnam animal feed market is segmented based on type, product, and region. Based on type, the market is categorized into swine animal feed, poultry animal feed, ruminant feed, aquatic feed, and others. The swine animal-fed segment is anticipated to lead the market in terms of revenue by 2028 owing to the increasing consumption of pork in the country. The growth in the food and hospitality industry is also a prime factor behind the increasing demand for swine animal feeds.
Based on product, the Vietnam animal feed market is segmented into fodder, forage, and others. Among them, the fodder segment is expected to undergo the fastest growth with an increase in livestock breeding and changing eating patterns in the country. The industrialization has led to shrinkage in grazing land and hence the demand for fodder has increased considerably over the years.
Major players operating in the Vietnam animal feed market are Thanh Nhon Corporation, Cargill Vietnam, Royal De Heus, GreenFeed (Vietnam) Co., Ltd., The Charoen Pokphand (CP) Group, Japfa Comfeed, Proconco (Masan Nutri-Science), East Hope Group Company, Lai Thieu Feed Mill Co., Ltd. (Vietnam) and American Feeds Vietnam, among others.
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The objective of the Study:
- To analyze and forecast the market size of Vietnam's animal feed market.
- To classify and forecast the Vietnam Animal feed market based on type, product, company, and regional distribution.
- To identify drivers and challenges for the Vietnam animal feed market.
- To examine competitive developments such as expansions, and new product launches in the Vietnam animal feed market.
- To conduct pricing analysis for the Vietnam animal feed market.
- To identify and analyze the profile of leading players operating in the Vietnam animal feed market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of animal feed manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the manufacturing companies which could not be identified due to the limitations of secondary research. TechSci Research analyzed the companies, distribution channels, and presence of all major players across Vietnam.
TechSci Research calculated the market size of Vietnam animal feed market using a bottom-up approach, wherein data for various end-user segments was recorded and forecasted for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience for Vietnam Animal feed Market
- Animal feed manufacturers/partners
- Sales channel/vendors/ distribution
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to animal feed
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as companies, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Attribute
Details
Base Year
2022
Historic Data
2018 – 2021
Estimated Year
2023
Forecast Period
2024 – 2028
Quantitative Units
Revenue in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023E-2028F
Report Coverage
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends
Segments Covered
· Type
· Product
Regional scope
North; South; Central
Key companies profiled
Thanh Nhon Corporation, Cargill Vietnam, Royal De Heus, GreenFeed (Vietnam) Co., Ltd., The Charoen Pokphand (CP) Group, Japfa Comfeed, Proconco (Masan Nutri-Science), East Hope Group Company, Lai Thieu Feed Mill Co., Ltd. (Vietnam) and American Feeds Vietnam
Customization scope
10% free report customization with purchase. Addition or alteration to regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Report Scope of Vietnam Animal feed Market
In this report, Vietnam animal feed market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Vietnam Animal feed Market, By Type:
- Swine Animal Feed
- Poultry Animal Feed
- Ruminant Feed
- Aquatic Feed
- Others
- Vietnam Animal feed Market, By Product:
- Fodder
- Forage
- Others
- Vietnam Animal feed Market, By Region:
- South Vietnam
- North Vietnam
- Central Vietnam
- Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Vietnam animal feed market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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