Vietnam Animal Feed Market (2023-2029) | Industry, Analysis, Value, Forecast, Outlook, COVID-19 IMPACT, Size, Growth, Companies, Share, Trends & Revenue

Topics Covered in the Vietnam Animal Feed Market

Vietnam Animal Feed Market report thoroughly covers the market by form, by species, and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Vietnam Animal Feed Market Synopsis

Vietnam Animal Feed Market is a vital component of the country's agriculture industry, serving as a crucial link in the supply chain for livestock production. The industry incorporates a wide range of products such as compound feed, feed additives, and raw materials, and caters to poultry, swine, aquaculture, and cattle farming sectors. The economy of Vietnam continues to expand and urbanization accelerates, the demand for meat and seafood products is proliferating, further driving the Vietnam Animal Feed Market Growth.

According to 6Wresearch, the Vietnam Animal Feed Market is expected to grow steadily during the forecast period of 2023-2029.  The growth is mainly due to country’s growing population, coupled with the trend of urbanization, is increasing the demand for animal-based protein sources, driving up livestock production. Additionally, rising income levels led to a shift in consumer preferences towards higher-protein diets, increasing the consumption of meat and dairy products. This trend boosts the need for efficient animal feed solutions to meet the demand for quality livestock products. The Vietnam animal feed industry also benefits from export opportunities, as the country exports both livestock products and animal feed to international markets. The growing global demand for seafood and meat products offers export prospects for producers of Vietnam. However, fluctuations in the prices of key feed ingredients like corn, soybean meal, and fishmeal impact production costs and profitability for feed manufacturers. Moreover, outbreaks of diseases in livestock and aquaculture disrupt production and lead to uncertainty in the market. Nevertheless, there is a growing trend toward sustainable and environmentally friendly feed production, driven by consumer and regulatory pressures. The adoption of digital technologies for feed formulation and management is becoming more common, leading to improved efficiency in the production process. Feed manufacturers have opportunities to diversify their product portfolios by introducing value-added products, such as premixes and organic feeds, to cater to changing consumer preferences. Further, continued investment in research and development can lead to the development of innovative and cost-effective feed formulations, enhancing competitiveness in the market.

Government policies and schemes introduced in the Vietnam Animal Feed Market

The government of Vietnam has implemented a master plan to develop the livestock industry, which includes strategies to improve animal husbandry practices and feed quality. Additionally, Vietnam Animal Feed Association (VAFA) has been actively involved in promoting the development of the animal feed industry in Vietnam. It works with various stakeholders to establish policies and regulations that support the industry. The government has implemented import tariffs and regulations on certain types of animal feed ingredients to protect local producers and ensure the quality of imported products.

The impact of COVID-19 on the Vietnam Animal Feed Market

The COVID-19 pandemic had influenced the Vietnam Animal Feed Market size to a great extent. The pandemic led to disruptions in the supply chain, affecting the availability of raw materials for animal feed production. Changes in consumer behavior and shifts in the demand for animal products due to lockdowns inclined the demand for animal feed. Moreover, restrictions on movement and trade affected the export of animal feed and related products. Further, labor shortages due to lockdowns and health concerns among workers affected production capacities of the market.

Leading players in the Vietnam Animal Feed Market

The competitive landscape of the market was characterized by several key players, both domestic and international, competing for Vietnam animal feed market share. The market is highly competitive with the presence of various key players such as;

• CP Group
• Cargill
• New Hope Group
• Japfa Comfeed Vietnam
• Dabaco Group

Market analysis by Species

According to Sachin, Senior Research Analyst, 6Wresearch, the aqua segment is experiencing significant growth due to the expanding aquaculture industry in Vietnam, driven by increasing global demand for seafood.

Market analysis by Type

Based on type, probiotics and enzyme supplements are gaining traction over the forecast period due to their role in improving animal health and reducing antibiotic usage.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Animal Feed Market Outlook
• Market Size of Vietnam Animal Feed Market, 2022
• Forecast of Vietnam Animal Feed Market, 2029
• Historical Data and Forecast of Vietnam Animal Feed Revenues & Volume for the Period 2019 - 2029
• Vietnam Animal Feed Market Trend Evolution
• Vietnam Animal Feed Market Drivers and Challenges
• Vietnam Animal Feed Price Trends
• Vietnam Animal Feed Porter's Five Forces
• Vietnam Animal Feed Industry Life Cycle
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Form for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Pellets for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Crumbles for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Mash for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Species for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Poultry for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Ruminants for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Aqua for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Swine for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Acidifiers for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Probiotics for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Enzyme for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Antioxidants for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Antibiotics for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Vitamins for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Minerals for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Animal Feed Market Revenues & Volume By Others for the Period 2019 - 2029
• Vietnam Animal Feed Import Export Trade Statistics
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Species
• Market Opportunity Assessment By Type
• Vietnam Animal Feed Top Companies Market Share
• Vietnam Animal Feed Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Animal Feed Company Profiles
• Vietnam Animal Feed Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Form

• Pellets
• Crumbles
• Mash
• Others

By Species

• Poultry
• Ruminants
• Aqua
• Swine
• Others

By Type

• Acidifiers
• Probiotics
• Enzyme
• Antioxidants
• Antibiotics
• Vitamins
• Minerals
• Others

Frequently Asked Questions About the Market Study (FAQs):