The food and beverages sector in Vietnam has been experiencing a consistent decline in its value added to total manufacturing since 2014. The year-on-year percentage decreases exhibit a mostly negative trend, highlighted by a significant drop of -20.03% in 2014. From 2013 to 2023, the sector's contribution reduced steadily every year, with the 2023 value standing at 14.08 units. The compounded annual growth rate (CAGR) over the last five years shows an average annual decline of -2.19%. The forecasted data from 2024 to 2028 predict a continued downward trend, with a five-year CAGR of -1.98% and an overall five-year growth rate decline of -9.49%.
Future trends to watch for include:
- Impact of new government policies on the food and beverage sector
- Shifts in consumer preferences towards more sustainable and health-conscious products
- Technological advancements and their influence on manufacturing efficiencies and product innovation
- Global economic conditions affecting export demand for Vietnamese food and beverage products
