From 2014 to 2023, the demand for mutton and goat meat in Vietnam showed notable fluctuations. Starting at 14.0 thousand metric tons in 2014, the demand decreased over the next two years, reaching a low point of 12.0 thousand metric tons in 2016. A rebound was observed in 2018, reaching 17.0 thousand metric tons, followed by minor declines and recoveries, stabilizing at 17.0 thousand metric tons by 2023. Year-on-year variations ranged from a significant increase of 30.77% in 2018 to declines of around 5-7% in other years.
Looking forward from 2024 to 2028, the forecast indicates a gradual increase in demand, reaching 18.2 thousand metric tons by 2028, with a projected 5-year CAGR of 1.02%, suggesting a steady but slow growth trend of around 5.2% over the period. In 2024, the demand stands at 17.3 thousand metric tons.
Future trends to watch for include potential shifts in consumer preferences towards healthier and organic meat options, changes in dietary patterns influenced by economic conditions, and the impact of regional trade agreements on meat supply and prices. Additionally, advancements in agriculture technology and improvements in local farming practices could further influence the demand dynamics.
