Vietnam: Pork Market 2025

Pork Market Size in Vietnam

The Vietnamese pork market contracted to $X in 2022, falling by -6.6% against the previous year. In general, consumption showed a mild slump. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Pork Production in Vietnam

In value terms, pork production shrank to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Pork production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

In 2022, the average pork yield in Vietnam amounted to X kg per head, approximately equating 2021. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by 5.9%. The pork yield peaked at X kg per head in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure.

The number of animals slaughtered for pork production in Vietnam contracted modestly to X heads in 2022, reducing by -3.2% compared with 2021 figures. In general, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 8%. Over the period under review, this number hit record highs at X heads in 2016; however, from 2017 to 2022, producing animals stood at a somewhat lower figure.

Pork Exports

Exports from Vietnam

In 2022, exports of pork from Vietnam dropped notably to X tons, waning by -24.6% against 2021 figures. In general, exports saw a pronounced shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 55% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, pork exports shrank to $X in 2022. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2016 when exports increased by 64%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for pork exports from Vietnam, accounting for a 84% share of total exports. Moreover, pork exports to Hong Kong SAR exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold. The third position in this ranking was held by Singapore (X tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+32.1% per year) and Singapore (-7.4% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for pork exports from Vietnam, comprising 82% of total exports. The second position in the ranking was held by Macao SAR ($X), with an 11% share of total exports. It was followed by Singapore, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+32.4% per year) and Singapore (-9.1% per year).

Export Prices by Country

In 2022, the average pork export price amounted to $X per ton, increasing by 13% against the previous year. In general, the export price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2013 an increase of 28% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+0.3%), while the prices for the other major destinations experienced a decline.

Pork Imports

Imports into Vietnam

After four years of growth, overseas purchases of pork decreased by -9.6% to X tons in 2022. Overall, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 362%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, pork imports declined to $X in 2022. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 490%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Russia (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of pork imports to Vietnam, together comprising 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +99.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pork suppliers to Vietnam were Russia ($X), Brazil ($X) and Germany ($X), with a combined 80% share of total imports.

Russia, with a CAGR of +171.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pork import price stood at $X per ton in 2022, surging by 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2020 an increase of 28%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+36.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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