Vietnam: Market for Processed cheese (excluding grated or powdered) 2021

Market Size for Processed cheese (excluding grated or powdered) in Vietnam

In 2020, the Vietnamese market for processed cheese (excluding grated or powdered) was finally on the rise to reach $X for the first time since 2017, thus ending a two-year declining trend. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Consumption peaked at $X in 2013; however, from 2014 to 2020, consumption failed to regain the momentum.

Production of Processed cheese (excluding grated or powdered) in Vietnam

In value terms, production of processed cheese (excluding grated or powdered) amounted to $X in 2020 estimated in export prices. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2012 when the production volume increased by X% y-o-y. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2020, production failed to regain the momentum.

Exports of Processed cheese (excluding grated or powdered)

Exports from Vietnam

In 2020, approx. X tons of processed cheese (excluding grated or powdered) were exported from Vietnam; falling by -X% compared with 2019. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, exports attained the maximum at X tons in 2019, and then contracted significantly in the following year.

In value terms, exports of processed cheese (excluding grated or powdered) rose sharply to $X in 2020. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Exports peaked in 2020 and are expected to retain growth in years to come.

Exports by Country

Singapore (X tons) was the main destination for exports of processed cheese (excluding grated or powdered) from Vietnam, with a X% share of total exports. Moreover, exports of processed cheese (excluding grated or powdered) to Singapore exceeded the volume sent to the second major destination, India (X kg), threefold.

From 2007 to 2020, the average annual growth rate of volume to Singapore totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+X% per year) and Cambodia (+X% per year).

In value terms, Singapore ($X) remains the key foreign market for processed cheese (excluding grated or powdered) exports from Vietnam, comprising X% of total exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Singapore amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-X% per year) and Cambodia (+X% per year).

Export Prices by Country

In 2020, the average export price for processed cheese (excluding grated or powdered) amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% year-to-year. Over the period under review, average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2020, the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Singapore, while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed cheese (excluding grated or powdered)

Imports into Vietnam

In 2020, after five years of growth, there was significant decline in overseas purchases of processed cheese (excluding grated or powdered), when their volume decreased by -X% to X tons. Over the period under review, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2009; however, from 2010 to 2020, imports remained at a lower figure.

In value terms, imports of processed cheese (excluding grated or powdered) dropped dramatically to $X in 2020. In general, imports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2019, and then reduced dramatically in the following year.

Imports by Country

In 2020, France (X tons) constituted the largest processed cheese (excluding grated or powdered) supplier to Vietnam, accounting for a X% share of total imports. Moreover, imports of processed cheese (excluding grated or powdered) from France exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from France amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and Germany (+X% per year).

In value terms, France ($X) constituted the largest supplier of processed cheese (excluding grated or powdered) to Vietnam, comprising X% of total imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2007 to 2020, the average annual growth rate of value from France amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and Australia (+X% per year).

Import Prices by Country

The average import price for processed cheese (excluding grated or powdered) stood at $X per ton in 2020, reducing by -X% against the previous year. Over the period under review, import price indicated a modest expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, import price for processed cheese (excluding grated or powdered) decreased by -X% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was South Korea ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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