Vietnam: Baby Food Market 2024

Baby Food Market Size in Vietnam

In 2021, after two years of growth, there was decline in the Vietnamese baby food market, when its value decreased by -4.5% to $X. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Baby Food Production in Vietnam

In value terms, baby food production contracted significantly to $X in 2021 estimated in export price. In general, production showed a mild slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 125%. Baby food production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Baby Food Exports

Exports from Vietnam

In 2021, shipments abroad of food preparations for infants increased by 277% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 547% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, baby food exports soared to $X in 2021. Overall, exports recorded a perceptible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons) was the main destination for baby food exports from Vietnam, with a 65% share of total exports. Moreover, baby food exports to Iraq exceeded the volume sent to the second major destination, Bangladesh (X tons), fourfold. Cambodia (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+492.2% per year) and Cambodia (+24.7% per year).

In value terms, Iraq ($X) emerged as the key foreign market for food preparations for infants exports from Vietnam, comprising 65% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 15% share of total exports. It was followed by Cambodia, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+562.4% per year) and Cambodia (+28.7% per year).

Export Prices by Country

In 2021, the average baby food export price amounted to $X per ton, flattening at the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2018 an increase of 46%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to the Philippines ($X per ton) and China ($X per ton), while the average price for exports to Singapore ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+38.6%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Food Imports

Imports into Vietnam

In 2021, the amount of food preparations for infants imported into Vietnam reached X tons, leveling off at 2020. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, baby food imports reached $X in 2021. In general, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.9% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by 37%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Singapore (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of baby food imports to Vietnam, together accounting for 52% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +57.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest baby food suppliers to Vietnam were Singapore ($X), Japan ($X) and Thailand ($X), together accounting for 52% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +56.0%, saw 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

The average baby food import price stood at $X per ton in 2021, growing by 13% against the previous year. Overall, the import price, however, showed a mild decline. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the price for the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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