Vietnam: Sausage Market 2024

Sausage Market Size in Vietnam

The Vietnamese sausage market skyrocketed to $X in 2021, surging by 21% against the previous year. Overall, consumption enjoyed a prominent expansion. Sausage consumption peaked in 2021 and is likely to see steady growth in years to come.

Sausage Production in Vietnam

In value terms, sausage production surged to $X in 2021 estimated in export price. In general, production posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. Over the period under review, production hit record highs in 2021 and is likely to see steady growth in the near future.

Sausage Exports

Exports from Vietnam

In 2021, overseas shipments of sausages and similar products of meat decreased by -30.9% to X tons, falling for the fifth consecutive year after two years of growth. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 207% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, sausage exports fell to $X in 2021. Overall, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 127% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for sausage exports from Vietnam, accounting for a 69% share of total exports. Moreover, sausage exports to Hong Kong SAR exceeded the volume sent to the second major destination, Myanmar (X tons), fivefold. The third position in this ranking was held by Cambodia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (-23.7% per year) and Cambodia (-9.2% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for sausages and similar products of meat exports from Vietnam, comprising 74% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 13% share of total exports. It was followed by Myanmar, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-8.3% per year) and Myanmar (-25.5% per year).

Export Prices by Country

The average sausage export price stood at $X per ton in 2021, with an increase of 34% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sausage Imports

Imports into Vietnam

Sausage imports into Vietnam surged to X tons in 2021, growing by 17% against the previous year's figure. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 240%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sausage imports surged to $X in 2021. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 193%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), South Korea (X tons) and Australia (X tons) were the main suppliers of sausage imports to Vietnam, with a combined 48% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +89.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sausage suppliers to Vietnam were Italy ($X), South Korea ($X) and Australia ($X), together comprising 47% of total imports.

Among the main suppliers, South Korea, with a CAGR of +88.2%, 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 sausage import price stood at $X per ton in 2021, picking up by 44% against the previous year. Overall, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Russia ($X per ton) and Spain ($X per ton), while the price for South Korea ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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