Vietnam: Meat-Preparation Industrial Machinery Market 2024

Meat-Preparation Industrial Machinery Market Size in Vietnam

The Vietnamese meat-preparation industrial machinery market surged to $X in 2022, growing by 98% 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). Overall, consumption continues to indicate a significant expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Meat-Preparation Industrial Machinery Exports

Exports from Vietnam

For the third year in a row, Vietnam recorded decline in shipments abroad of industrial machinery for the preparation of meat or poultry, which decreased by 0% to X units in 2022. Over the period under review, exports posted a perceptible expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 236%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, meat-preparation industrial machinery exports surged to $X in 2022. In general, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 315%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X units) was the main destination for meat-preparation industrial machinery exports from Vietnam, with a 57% share of total exports. Moreover, meat-preparation industrial machinery exports to Thailand exceeded the volume sent to the second major destination, Japan (X units), fourfold. Australia (X units) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+4.2% per year) and Australia (-6.7% per year).

In value terms, Thailand ($X) remains the key foreign market for industrial machinery for the preparation of meat or poultry exports from Vietnam, comprising 75% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Thailand stood at +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+12.6% per year) and Taiwan (Chinese) (+68.1% per year).

Export Prices by Country

The average meat-preparation industrial machinery export price stood at $X per unit in 2022, growing by 28% against the previous year. Over the period under review, the export price showed a remarkable increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 144% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Australia ($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 Taiwan (Chinese) (+49.8%), while the prices for the other major destinations experienced more modest paces of growth.

Meat-Preparation Industrial Machinery Imports

Imports into Vietnam

Meat-preparation industrial machinery imports into Vietnam soared to X units in 2022, rising by 104% on the year before. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 155%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, meat-preparation industrial machinery imports surged to $X in 2022. In general, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 74%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest supplier of meat-preparation industrial machinery to Vietnam, accounting for a 36% share of total imports. Moreover, meat-preparation industrial machinery imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was held by China (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +41.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.9% per year) and China (+24.0% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of industrial machinery for the preparation of meat or poultry to Vietnam, comprising 40% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands amounted to +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and China (+5.7% per year).

Import Prices by Country

The average meat-preparation industrial machinery import price stood at $X per unit in 2022, dropping by -14.7% against the previous year. In general, the import price faced a abrupt decline. The growth pace was the most rapid in 2013 when the average import price increased by 17% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for the UK ($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 (+9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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