Vietnam: Butter Market 2025

Butter Market Size in Vietnam

In 2022, the Vietnamese butter market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Butter Exports

Exports from Vietnam

In 2022, butter exports from Vietnam contracted to X tons, with a decrease of -10.9% on 2021 figures. In general, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2013 with an increase of 299%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, butter exports declined rapidly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 261%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for butter exports from Vietnam, accounting for a 57% share of total exports. Moreover, butter exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-10.4% per year) and Lao People's Democratic Republic (-0.4% per year).

In value terms, Myanmar ($X), Cambodia ($X) and Lao People's Democratic Republic ($X) were the largest markets for butter exported from Vietnam worldwide.

Lao People's Democratic Republic, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average butter export price stood at $X per ton in 2022, falling by -5.3% against the previous year. In general, the export price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 93%. The export price peaked at $X per ton in 2018; however, from 2019 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 Cambodia ($X per ton), while the average price for exports to Myanmar ($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 Lao People's Democratic Republic (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Butter Imports

Imports into Vietnam

In 2022, after three years of decline, there was growth in overseas purchases of butter, when their volume increased by 4.2% to X tons. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -27.8% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 38% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, butter imports expanded notably to $X in 2022. In general, imports posted buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 103%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter to Vietnam, accounting for a 75% share of total imports. Moreover, butter imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from New Zealand totaled +4.2%.

In value terms, New Zealand ($X) constituted the largest supplier of butter to Vietnam, comprising 75% of total imports. The second position in the ranking was taken by France ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to +6.5%.

Import Prices by Country

The average butter import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter import price decreased by -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 68% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for France amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.3%).

Source: IndexBox Platform

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