Vietnam: Animal Feed Market 2024

Animal Feed Market Size in Vietnam

The Vietnamese animal feed market reduced to $X in 2022, waning by -3.9% against the previous year. The market value increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Animal feed consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Animal Feed Production in Vietnam

In value terms, animal feed production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 74% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports from Vietnam

In 2022, the amount of animal and pet feed exported from Vietnam reached X tons, with an increase of 4.1% compared with 2021 figures. In general, exports saw noticeable growth. The growth pace was the most rapid in 2014 when exports increased by 37% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, animal feed exports reached $X in 2022. Over the period under review, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 31% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for animal feed exports from Vietnam, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar amounted to +147.5%.

In value terms, Myanmar ($X) emerged as the key foreign market for animal and pet feed exports from Vietnam.

From 2012 to 2022, the average annual growth rate of value to Myanmar stood at +145.5%.

Export Prices by Country

In 2022, the average animal feed export price amounted to $X per ton, reducing by -3.4% against the previous year. Over the last decade, it increased at an average annual rate of +5.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 79% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to +6.9% per year.

Animal Feed Imports

Imports into Vietnam

In 2022, purchases abroad of animal and pet feed decreased by -9.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 55%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, animal feed imports fell to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 50%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest animal feed supplier to Vietnam, with a 31% share of total imports. Moreover, animal feed imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.0% per year) and Italy (+148.4% per year).

In value terms, China ($X) constituted the largest supplier of animal and pet feed to Vietnam, comprising 39% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Singapore, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +14.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.4% per year) and Singapore (+8.0% per year).

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, surging by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 46% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Singapore ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :