Report Update Jan 1, 2025

Vietnam - Butter - Market Analysis, Forecast, Size, Trends and Insights

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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

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

The countries with the highest volumes of butter consumption in 2021 were the United States, Germany and France, together accounting for 34% of global consumption. These countries were followed by Russia, New Zealand, Turkey, Iran, the UK, China, Poland, Canada, Brazil and Italy, which together accounted for a further 34%.

What are the largest producers of butter in the world?

The countries with the highest volumes of butter production in 2021 were the United States, New Zealand and Germany, together comprising 34% of global production. These countries were followed by France, Ireland, Russia, Turkey, Iran, Poland, the Netherlands, the UK, Belarus and Canada, which together accounted for a further 36%.

What are the leading suppliers of butter to Vietnam?

In value terms, New Zealand constituted the largest supplier of butter to Vietnam, comprising 74% of total imports. The second position in the ranking was occupied by France, with a 21% share of total imports.

What are the leading importers of butter from Vietnam?

In value terms, Cambodia, Myanmar and Lao People's Democratic Republic constituted the largest markets for butter exported from Vietnam worldwide, with a combined 71% share of total exports. These countries were followed by Hong Kong SAR and China, which together accounted for a further 29%.

What is the average export price for butter in Vietnam?

The average butter export price stood at $5,234 per ton in 2021, with an increase of 10% against the previous year.

What is the average import price for butter in Vietnam?

In 2021, the average butter import price amounted to $4,738 per ton, rising by 7.3% against the previous year.

This report provides an in-depth analysis of the butter market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 886 - Butter of Cow Milk

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024