In 2023, the mutton and goat meat market size in Vietnam stood at 17,000 metric tons, with a year-on-year variation of 0%. Observing the trends from 2014 to 2023, the market size exhibited a fluctuating pattern, with the initial decline from 14,000 metric tons in 2014 to a low of 12,000 metric tons in 2016, followed by a general upward trend. The largest single-year increase occurred in 2018, showing a notable rise of 30.77%. Over the last five years until 2023, the compound annual growth rate (CAGR) averaged at 0%, indicating a stabilized market size.
Projected data from 2024 to 2028 suggests a steady growth trajectory, with the market size expected to reach 18,200 metric tons by 2028. The forecasted 5-year CAGR until 2028 is 1.02%, with a cumulative growth rate of 5.2%.
Future trends to watch for include the potential impact of economic factors, changing consumer preferences, and policy changes affecting livestock farming and meat consumption. Additionally, environmental sustainability and health concerns may steer market dynamics, influencing both production practices and demand patterns.
