Vietnam: Meat Dishes Market 2024

Meat Dishes Market Size in Vietnam

The Vietnamese meat dishes market fell to $X in 2022, waning by -4.5% against the previous year. Overall, consumption saw a noticeable reduction. Meat dishes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Meat Dishes Production in Vietnam

In value terms, meat dishes production shrank slightly to $X in 2022 estimated in export price. In general, production showed a pronounced shrinkage. The growth pace was the most rapid in 2015 when the production volume increased by 19% against the previous year. Meat dishes production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Meat Dishes Exports

Exports from Vietnam

Meat dishes exports from Vietnam declined remarkably to X tons in 2022, which is down by -25.1% on 2021. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 178%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, meat dishes exports fell to $X in 2022. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2018 when exports increased by 180% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of meat dishes exports from Vietnam, with a combined 94% share 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 Japan (with a CAGR of +79.2%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) constituted the largest markets for meat dishes exported from Vietnam worldwide, together comprising 93% of total exports.

Japan, with a CAGR of +91.0%, recorded the highest growth rate of the value of exports, in terms of 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

The average meat dishes export price stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2015 when the average export price increased by 45%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 Japan (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.

Meat Dishes Imports

Imports into Vietnam

In 2022, the amount of meat dishes imported into Vietnam expanded rapidly to X tons, growing by 10% compared with 2021 figures. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 112%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, meat dishes imports rose markedly to $X in 2022. In general, imports showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 87% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of meat dishes imports to Vietnam, with a combined 71% share of total imports. Denmark, Russia, France, the Netherlands, Australia, Spain and Italy lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +311.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest meat dishes suppliers to Vietnam were Brazil ($X), the United States ($X) and Malaysia ($X), with a combined 67% share of total imports. Denmark, Russia, France, the Netherlands, Australia, Spain and Italy lagged somewhat behind, together comprising a further 29%.

The Netherlands, with a CAGR of +365.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average meat dishes import price stood at $X per ton in 2022, approximately mirroring the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat dishes import price increased by +8.9% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 91% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat 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 the Netherlands ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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