The demand for pork in Vietnam has shown remarkable stability from 2014 to 2023, growing from 3.22 million metric tons to 3.7 million metric tons. The year-on-year variations reveal modest but consistent increases, with the notable exception of declines in 2019 and 2020, where demand dropped slightly to 3.59 and 3.44 million metric tons, respectively. From 2021 onwards, demand picked up again, reaching 3.7 million metric tons in 2023. In terms of compound annual growth rate (CAGR), the average growth rate over the last five years stood at 0.57%.
Forecast data from 2024 to 2028 predict a steady rise in demand, reaching 3.85 million metric tons by 2028, representing a 5-year CAGR of 0.6%. This suggests a consistent annual increase, maintaining the trend seen in recent years, with an overall 3.03% growth over the period.
Future trends to watch for:
- Consumer behavior changes due to economic conditions or health trends
- Impact of supply chain disruptions and feed cost volatility
- Potential changes in trade policies affecting pork imports
- Advancements in pork production technology and improvements in domestic supply capabilities
