Key Market Indicators
Vietnam's sweeteners market is projected to expand modestly, reaching approximately 1.2 million metric tons by 2028, up from around 1.18 million metric tons in 2023. This growth represents a compound annual growth rate (CAGR) of 0.2%. Since 2019, the market has seen a slight increase of 0.1% annually. In contrast, sweeteners production in Vietnam is expected to decline. Forecasts indicate a drop to about 1.35 million metric tons by 2028, down from 1.48 million metric tons in 2023. This decline corresponds to a 1.4% annual decrease in production. Since 2019, the country’s sweeteners supply has been decreasing by 0.9% annually. In 2023, Vietnam ranked 26th globally in sweeteners production, with South Korea surpassing it by producing 1.48 million metric tons. Brazil, the United States, and Thailand held the second, third, and fourth positions, respectively, in the global rankings.
