Vietnam: Dairy Machinery Market 2024

Dairy Machinery Market Size in Vietnam

The Vietnamese dairy machinery market skyrocketed to $X in 2022, surging by 44% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a abrupt decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Dairy Machinery Exports

Exports from Vietnam

After two years of decline, shipments abroad of dairy machinery increased by 27% to X units in 2022. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports surged to $X in 2022. In general, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 146%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cambodia (X units), Lao People's Democratic Republic (X units) and the Philippines (X units) were the main destinations of dairy machinery exports from Vietnam, together comprising 79% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dairy machinery exported from Vietnam were the Philippines ($X), New Zealand ($X) and Cambodia ($X), with a combined 84% share of total exports.

In terms of the main countries of destination, Cambodia, with a CAGR of +32.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average dairy machinery export price amounted to $X per unit, dropping by -3.1% against the previous year. In general, the export price, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 74% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into Vietnam

In 2022, after three years of decline, there was significant growth in purchases abroad of dairy machinery, when their volume increased by 48% to X units. In general, imports, however, showed a abrupt contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, dairy machinery imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X units), Sweden (X units) and Switzerland (X units) were the main suppliers of dairy machinery imports to Vietnam, together accounting for 52% of total imports. Thailand, Germany, Denmark, Finland, Indonesia, Italy, Australia, New Zealand and Singapore lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +27.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest dairy machinery suppliers to Vietnam were the Netherlands ($X), Switzerland ($X) and Denmark ($X), with a combined 52% share of total imports. Sweden, Thailand, Germany, Finland, Indonesia, Italy, Australia, Singapore and New Zealand lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, Germany, with a CAGR of +31.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average dairy machinery import price amounted to $X per unit, shrinking by -4% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then contracted slightly in the following year.

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 Denmark ($X per unit), while the price for New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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