Vietnam Animal Feed Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Fodder & Forage, Compound Feed), By Livestock (Pork, Aquatic Animals, Cattle, Poultry, Others), And By Raw Material (Soya, Corn, Others) - Forecasts From 2023 To 2028

  • Published : Mar 2023
  • Report Code : KSI061612388
  • Pages : 101

The Vietnam animal feed market is expected to grow at a compound annual growth rate of 3.68% over the forecast period to reach a market size of US$10997.813 million in 2028, up from US$8541.568 million in 2021.

Animal feed is considered as the demand-led 'livestock revolution' which is taking place as a result of a rapidly growing population, income growth, and increasing urbanization. The animal feed market in Vietnam is a significant segment of the country's agricultural industry. Vietnam has a population of over 96 million people, and the demand for animal protein products such as meat, milk, and eggs is increasing rapidly due to the growing middle class and increasing urbanization. Additionally, the government of Vietnam has implemented various policies and initiatives to promote the growth of the livestock industry and the animal feed market. For example, the government has provided incentives and subsidies to encourage the production of high-quality animal feed and has also invested in research and development to improve the quality and nutritional value of animal feed.

The Vietnam animal feed market is driven by expanding consumer demand for meat products.

According to a report by the United States Department of Agriculture (USDA), Vietnam's total meat consumption reached 6.7 million metric tons (MMT) in 2022, which is a 2% increase from 2021. This increase is driven by the growing population, increasing urbanization, and rising incomes in the country, which are leading to a shift in dietary patterns towards more meat-based diets. The Vietnam animal feed market is significantly impacted by the country's rising demand for meat products. The demand for animal feed has also increased as the livestock sector in Vietnam has developed to fulfill the rising demand for meat since animal feed is a vital part of livestock production.

Furthermore, it also affects the demand for both imported and domestically produced animal feed. As a result, it creates opportunities for local animal feed manufacturers to expand their production and increase their market share which enables local and international producers of animal feed to increase their output and develop new goods and technologies to suit the demands of the livestock sector. Local and worldwide animal feed producers in Vietnam are investing in the creation of new feed products and technologies that increase the productivity and efficiency of livestock production to fulfill the rising demand for animal feed. This includes the use of automated technology to increase the effectiveness of feed production and distribution, as well as precision feeding, which entails the precise measurement and distribution of feed to individual animals based on their nutritional needs.

Key Developments.

  • In 2021, Hoang Anh Gia Lai (HAGL) announced plans to invest US$10 million in a new animal feed production plant in Laos. The plant is expected to have a production capacity of 300,000 metric tons per year and help meet the growing demand for animal feed in the region.
  • In 2020, De Heus opened a new animal feed production plant in the Mekong Delta region of Vietnam, which has a production capacity of 260,000 metric tons per year. The company has also expanded its distribution network to reach more customers in Vietnam.

Based on livestock, the Vietnam animal feed market is expected to witness positive growth in poultry.

The market for poultry feed in Vietnam is primarily driven by the rising demand for poultry products including meat and eggs. Vietnam's poultry output, according to the Ministry of Agriculture and Rural Development (MARD), increased by 7.2% from 2019 to 2020, reaching 1.39 billion birds. In addition, the number of eggs produced rose by 10.1%, totaling 15.6 billion eggs. The demand for protein-rich foods has increased in Vietnam as a result of the country's expanding economy and population, and poultry meat and eggs are reasonable sources of protein. The market for poultry feed is predicted to expand as a result of this trend. The Vietnamese poultry feed sector has seen a major increase in investment in recent years. Players from abroad and locally have both invested in growing their businesses and manufacturing capacities. In the upcoming years, this investment is anticipated to fuel the market for poultry feed.

The Vietnamese government has put regulations in place to encourage the growth of the market for poultry feed as well as other sectors of the animal feed industry. These regulations are designed to boost animal feed output and raise the standard of feed products. Also, the government has given farmers subsidies to encourage them to utilize commercial feed, which is anticipated to increase the demand for chicken feed. The Vietnamese government gave farmers a total of US$ 27.5 million in subsidies in 2020 to encourage them to buy commercial feed, according to the Vietnam Animal Feed Association (VAFA). This is a part of the government's initiatives to encourage the growth of the poultry feed market as well as the animal feed sector.

Vietnam Animal Feed Market Scope:

 

Report Metric Details
Market Size Value in 2021 US$8541.568 million
Market Size Value in 2028 US$10997.813 million
Growth Rate CAGR of 3.68% from 2021 to 2028
Base Year 2021
Forecast Period 2023 – 2028
Forecast Unit (Value) USD Million
Segments Covered Type, Livestock, and Raw Material
Companies Covered Dabaco GrouP, Aisa nutrition technologies, Cargill, Incorporated, Alltech, Archer Daniels Midland
Customization Scope Free report customization with purchase

 

Key Market Segments

  • By Type
    • Fodder & Forage
    • Compound Feed
  • By Livestock
    • Pork
    • Aquatic Animals
    • Cattle
    • Poultry
    • Others
  • By Raw Material
    • Soy
    • Corn
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. VIETNAM ANIMAL FEED MARKET, BY TYPE

5.1. Introduction

5.2. Fodder & Forage

5.3. Compound Feed

6. VIETNAM ANIMAL FEED MARKET BY LIVESTOCK

6.1. Introduction

6.2. Pork

6.3. Aquatic Animals

6.4. Cattle

6.5. Poultry

6.6. Others

7. VIETNAM ANIMAL FEED MARKET BY RAW MATERIAL

7.1. Introduction

7.2. Soy

7.3. Corn

7.4. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisition, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Dabaco Group

9.2. Aisa nutrition technologies

9.3. Cargill, Incorporated

9.4. Alltech

9.5. Archer Daniels Midland


Dabaco GrouP

Aisa nutrition technologies

Cargill, Incorporated

Alltech

Archer Daniels Midland