Vietnam: Dairy Produce Market 2024

Dairy Produce Market Size in Vietnam

In 2022, the Vietnamese dairy produce market increased by X% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Dairy Produce Production in Vietnam

In value terms, dairy produce production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of X%. Dairy produce production peaked at $X in 2020; afterwards, it flattened through to 2022.

Dairy Produce Exports

Exports from Vietnam

In 2022, dairy produce exports from Vietnam surged to X tons, rising by X% on the previous year's figure. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, dairy produce exports shrank to $X in 2022. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

Myanmar (X tons) was the main destination for dairy produce exports from Vietnam, with a X% share of total exports. Moreover, dairy produce exports to Myanmar exceeded the volume sent to the second major destination, Iraq (X tons), threefold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (X% per year) and the Philippines (X% per year).

In value terms, Iraq ($X) remains the key foreign market for dairy produce exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average dairy produce export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a 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 China ($X per ton), while the average price for exports to Myanmar ($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 Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Produce Imports

Imports into Vietnam

In 2022, purchases abroad of dairy produce was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy produce imports fell slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

New Zealand (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of dairy produce imports to Vietnam, with a combined X% share of total imports. France, Poland, Germany, Thailand, Belgium, the Netherlands and Lithuania lagged somewhat behind, together accounting for a further X%.

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

In value terms, New Zealand ($X), the United States ($X) and Australia ($X) constituted the largest dairy produce suppliers to Vietnam, together accounting for X% of total imports. France, Germany, Belgium, Poland, the Netherlands, Lithuania and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Belgium, with a CAGR of X%, recorded the highest growth rate of 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 produce import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price recorded a slight setback. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 New Zealand ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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