Other Livestock Products - Vietnam

Vietnam

Gross production value in Other Livestock Products market is projected to amount to US$23.52bn in 2024. An annual growth rate of 7.93% is expected (CAGR 2024-2028), resulting in gross production value of US$31.92bn in 2028.
The import value in Other Livestock Products market is projected to amount to US$1.2m in 2024. An annual growth rate of -10.68% is expected (CAGR 2024–2028).
The export value in Other Livestock Products market is projected to amount to US$118.3m in 2024. An annual growth rate of 8.97% is expected (CAGR 2024–2028).

Key regions: United Kingdom, Germany, United States, Spain, Italy

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Analyst Opinion

The Other Livestock Products market in Vietnam has been experiencing significant growth in recent years.

Customer preferences: Vietnamese consumers have been increasingly interested in alternative sources of protein, leading to a rise in demand for Other Livestock Products such as duck, quail, and rabbit meat. Additionally, there has been a growing interest in traditional Vietnamese cuisine, which often includes these types of meats.

Trends in the market: One trend in the Other Livestock Products market in Vietnam is the increasing popularity of duck meat. Duck farming has become a profitable business for many farmers, leading to an increase in supply. Additionally, there has been a rise in demand for processed duck products such as sausages and pâté. Another trend is the growth of quail farming, which has become a popular source of income for small-scale farmers.

Local special circumstances: Vietnam's geography and climate make it well-suited for the production of Other Livestock Products. The country's many rivers and waterways provide an ideal habitat for ducks, while the warm climate is favorable for quail and rabbit farming. Additionally, Vietnam has a long history of raising these types of animals for food, making it a well-established industry.

Underlying macroeconomic factors: Vietnam's growing middle class has been a key driver of the Other Livestock Products market. As incomes rise, consumers are able to afford a wider variety of foods, including alternative sources of protein. Additionally, Vietnam's export market for Other Livestock Products has been growing, with demand coming from countries such as China and South Korea. This has led to increased investment in the industry and a drive to improve production standards.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.