Vietnam: Malt Market 2024

Malt Market Size in Vietnam

In 2021, the Vietnamese malt market decreased by -12.1% to $X, falling for the second year in a row after two years of growth. In general, consumption recorded a noticeable decrease. Malt consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Malt Production in Vietnam

In value terms, malt production rose to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 2,912%. Malt production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Malt Exports

Exports from Vietnam

For the fifth consecutive year, Vietnam recorded growth in overseas shipments of malt (not roasted), which increased by 9% to X tons in 2021. Overall, exports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2015 when exports increased by 381% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, malt exports soared to $X in 2021. Over the period under review, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of 361%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) were the main destinations of malt exports from Vietnam, together comprising 76% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +50.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for malt exported from Vietnam were Cambodia ($X), Thailand ($X) and Taiwan (Chinese) ($X), together comprising 76% of total exports.

Taiwan (Chinese), with a CAGR of +68.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average malt export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, malt export price increased by +66.0% against 2016 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 59%. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Cambodia ($X per ton) and Thailand ($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 Taiwan (Chinese) (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Malt Imports

Imports into Vietnam

In 2021, the amount of malt (not roasted) imported into Vietnam declined significantly to X tons, falling by -24.7% compared with the year before. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 49% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, malt imports shrank dramatically to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 52% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest malt supplier to Vietnam, accounting for a 59% share of total imports. Moreover, malt imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. France (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.5% per year) and France (-7.0% per year).

In value terms, Australia ($X) constituted the largest supplier of malt (not roasted) to Vietnam, comprising 59% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.0% per year) and France (-6.2% per year).

Import Prices by Country

The average malt import price stood at $X per ton in 2021, increasing by 10% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Denmark ($X per ton), while the price for China ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :