Vietnam animal feed market size is expected to
reach USD 10.55 billion by 2022, according to a new report by Grand View
Research, Inc. Shift in trend towards consumption of poultry and cattle meat is
expected to remain a key driving factor for Vietnam animal feed market.
Historically, domestic consumers were depended largely on pork meat to meet
nutritional requirement. Advent of increasing per capita disposable income
level has transformed this shift in trend which has propelled animal feed
demand in the nation.
Increasing investments particularly in R&D
are expected to drive production sustainability over the forecast period. Even
though domestic production is expected to rise, the market faces challenges in
the form of imports. Most of the animal feed consumed in Vietnam is sourced
through imports from neighboring ASEAN nations.
Fodder was the leading product segment and
accounted for over 85% of the total volume in 2014. Industrialization of
livestock breeding has led to significant change in animal feed patterns, which
were predominantly based on grazing and plant feed in pastoral regions. This
factor is expected to drive fodder growth over the forecast period. Fodder is
also expected to witness the highest gain in its market size over the forecast
period.
For full research report on Vietnam
Animal Feed Market visit here: https://www.grandviewresearch.com/industry-analysis/vietnam-animal-feed-market
Further key
findings from the report suggest:
- Vietnam animal feed market demand was 15,829.3
kilo tons in 2014 and is expected to grow at a CAGR of 6.4% from 2015 to
2022.
- Poultry was the leading livestock and
accounted for over 39% of total volume in 2014. Incidences of disease
outbreaks such as bird flu, fowl pox and avian influenza have driven
demand for improved quality in poultry feed products. Incorporation of
various immune boosting feed additives is also expected to drive its
growth.
- Circular 50/2014/TTBNNPTNT published by
Ministry of Agriculture and Rural Development (MARD) in December 2014, has
established revised standards and regulations for animal husbandry and
animal feed industry.
- The Vietnam animal feed market share is
largely dominated by large multinational corporations with immense
investments in the poultry, cattle and pork meat sectors. The industry is
gradually moving towards consolidation with domestic manufacturers gaining
strong foothold. Charoen Pokphand was the leading company with just below
20% of the market share in 2014.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/vietnam-animal-feed-market/request/rs1
Grand
View Research has segmented the Vietnam animal feed market on the basis of
product and livestock:
Vietnam
Animal Feed Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
- Fodder
- Forage
Vietnam
Animal Feed Livestock Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
- Poultry
- Cattle
- Pork
- Aquaculture
- Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.