The production of sweeteners in Vietnam has experienced a general downward trend from 2014 to 2023, where the production volume stood at 1.48 million metric tons. This trend is highlighted by several significant year-on-year decreases, such as a steep decline of 11.05% in 2018 and an ongoing decline in recent years, including 2023 with a 1.6% drop. Interestingly, there have been sporadic periods of slight increases, such as in 2017 and 2021, but these have not reversed the overall decline. The Compound Annual Growth Rate (CAGR) over the last five years reveals an average annual decrease of 0.94%.
Looking ahead to 2028, forecasts indicate that sweeteners production will decrease further, continuing at a forecasted 5-year CAGR of -1.41%, leading to an overall decline of approximately 6.85%. This sustained downward trend warrants careful attention to several factors: potential shifts in consumer preferences, technological advancements in sweeteners production, and regulatory changes that may impact production.
Future trends to watch for:
- Changes in consumer health awareness and demand for alternative sweeteners
- Impact of global trade policies and economic conditions on production
- Innovations in production efficiency and sustainability
