Report Overview

Vietnam Animal Feed Market - Industry Trends & Forecast Report, 2029

Vietnam animal feed market size was estimated to be worth USD 1.65 billion in 2022. During the forecast period between 2023 and 2029, the Vietnam animal feed market size is projected to grow at a CAGR of 5.7%, reaching a value of USD 2.3 billion by 2029. Major growth factors for the Vietnam animal feed market include the increasing consumption of meat and other animal products as a result of the rising per capita income and purchasing power of Vietnamese consumers. Furthermore, the flourishing tourism and hospitality sectors are also emerging as major driving factors for the Vietnam animal feed market.

Vietnam Animal Feed Market – Overview

The term "animal feed" refers to foods produced and cultivated for ruminants, poultry, swine, aquatic animals, etc. Forage and fodder are the two primary categories of animal feed. Animal feeds are created by carefully choosing and combining ingredients in order to provide highly nutritious meals that both maintain the health of the animals and enhance the quality of such end products as milk, meat, or eggs. Cereal grains, hay and silage crops, grasses, pastures, and other food crop byproducts, such as sugar beet pulp, are some of the most preferred feeds.

Vietnam Animal Feed Market

Growth Drivers

Favorable Private-Public Initiatives

With the growing demand for meat and animal products in the country, the animal husbandry industry is also flourishing, which is directly influencing the demand for animal feed in the country. To accommodate the rising demand, the Vietnamese government is increasing imports of animal feed in general. According to statistics from the General Department of Customs and the Department of Livestock Production (Ministry of Agriculture and Rural Development), corn and soybean imports increased overall in the first year of 2022 and cost close to USD 2.7 billion, 2.2 million tons of oilseeds, 0.73 million tons of wheat, fish meal, bone meal, animal protein, and a combination of trace elements (Premix) are just a few of the additional materials that Vietnam spends more than USD 400 million on.

Restraints

Increasing Prevalence of Zoonotic Diseases

According to a paper published in the National Center for Biotechnology Information, highly pathogenic avian influenza, leptospirosis, anthrax, and Streptococcus suis are among the five priority zoonoses that the Vietnamese government has identified. The increasing prevalence of zoonotic diseases is directly impacting market demand for animal meat and other products, which may further hinder the growth of the Vietnam animal feed market.

Impact of COVID-19 on Vietnam Animal Feed Market

The COVID-19 pandemic negatively impacted the growth of the Vietnam animal feed market. The Vietnamese animal feed market is heavily dependent on imports, particularly from Argentina and the United States, to meet its demand. However, restrictions on cross-border trade to prevent the virus spread resulted in a huge shortage of animal feedstock in the market. Furthermore, the rise in awareness regarding the zoonotic disease limited animal meat consumption and directly influenced the demand for meat from the hospitality industry, which further affected the Vietnam animal feed market.

Vietnam Animal Feed Market

Segmental Coverage

Vietnam Animal Feed Market – By Product

Based on product, the Vietnam animal feed market is segmented into fodder, forage, and others. Fodder accounts for the largest share of the Vietnam animal feed market. Fodder is an improved and more sustainable alternative. It just needs a fodder system, water, and barley as inputs. Unlike traditional farming, fodder eliminates the need for expensive modifications. Additionally, fodder replaces the requirement for additional feed sources, many of which include GM maize or soy components.

Vietnam Animal Feed Market – By Livestock

Based on livestock, the Vietnam animal feed market is segmented into pork, aquatic animals, cattle, poultry, and others. Pork dominates the Vietnam animal feed market. According to the Organization for Economic Co-operation and Development (OECD), Vietnam emerged as Asia's second-largest consumer of pork in 2022, consuming over 3.4 million metric tons. During the period between 2022 through 2030, this would represent a 3.1% yearly growth rate. The expansion of the food and hospitality sectors is emerging as a major driver of the rising demand for swine animal feeds.

Competitive Landscape

Major players operating in the Vietnam animal feed market include C.P. Group, Vinamilk, Cargill Vietnam, New Hope Group, GreenFeed Vietnam Corporation, De Heus Vietnam, Emivest Feedmill Vietnam Co., Ltd., Proconco, Uni-President Vietnam Co. Ltd, and Dabaco Group.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In May 2023 – Japfa Comfeed Vietnam, an agri-food company based in Indonesia, opened a new animal feed mill and slaughterhouse at the Minh Hng Sikico Industrial Park in the district of Hn Qun, province of Bnh Phc.

Scope of the Report

By Product

• Fodder

• Forage

• Others

By Livestock

• Pork

• Aquatic Animals

• Cattle

• Poultry

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Animal Feed Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Drivers
         1. Growing Population and Increasing Disposable Income
         2. Industrialization of Livestock Production
         3. Expansion of the Aquaculture Sector
      2. Restraints
         1. Volatility in Raw Material Prices
         2. Disease Outbreaks such as Avian Influenza and African Swine Fever
      3. Opportunities
         1. Rising Demand for Specialty Feeds
         2. High Export Potential
      4. Challenges
         1. Maintaining Feed Safety and Quality
         2. Competition from Imports
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Animal Feed Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
         1. Fodder
         2. Forage
         3. Others
      2. By Livestock
         1. Pork
         2. Aquatic Animals
         3. Cattle
         4. Poultry
         5. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. South Africa Insurance Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid–19 on Vietnam Animal Feed Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. C.P. Group
   2. Vinamilk
   3. Cargill Vietnam
   4. New Hope Group
   5. GreenFeed Vietnam Corporation
   6. De Heus Vietnam
   7. Emivest Feedmill Vietnam Co Ltd
   8. Proconco
   9. Uni-President Vietnam Co Ltd
   10. Dabaco Group
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Animal Feed Segmentation                      

Figure 2       Vietnam Animal Feed Market Value Chain Analysis                     

Figure 3       Company Market Share Analysis, 2022                  

Figure 4       Vietnam Animal Feed Market Size, By Value (USD Billion), 2019–2029                    

Figure 5       Vietnam Animal Feed Market Share, By Product, By Value, 2019–2029                    

Figure 6       Vietnam Animal Feed Market Share, By Livestock, By Value, 2019–2029                                                       

List of Tables

Table 1        Vietnam Animal Feed Market Size, By Value (USD Billion), 2019–2029

Table 2        Vietnam Animal Feed Market Share, By Product, By Value, 2019–2029

Table 3        Vietnam Animal Feed Market Share, By Livestock, By Value, 2019–2029

Table 4        C.P. Group Company Overview

Table 5        C.P. Group Financial Overview

Table 6        Vinamilk Company Overview

Table 7        Vinamilk Financial Overview

Table 8        Cargill Vietnam Company Overview

Table 9        Cargill Vietnam Financial Overview

Table 10      New Hope Group Company Overview

Table 11      New Hope Group Financial Overview

Table 12      GreenFeed Vietnam Corporation Company Overview

Table 13      GreenFeed Vietnam Corporation Financial Overview

Table 14      De Heus Vietnam Company Overview

Table 15      De Heus Vietnam Financial Overview

Table 16      Emivest Feedmill Vietnam Co Ltd Company Overview

Table 17      Emivest Feedmill Vietnam Co Ltd Financial Overview

Table 18      Proconco Company Overview

Table 19      Proconco Financial Overview

Table 20      Uni-President Vietnam Co Ltd Company Overview

Table 21      Uni-President Vietnam Co Ltd Financial Overview

Table 22      Dabaco Group Company Overview

Table 23      Dabaco Group Financial Overview

Table 24      Other Prominent Players Company Overview

Table 25      Other Prominent Players Financial Overview