The refined sugar exported from the US to Vietnam has shown significant fluctuations over the past years. Notably, from a decrease of 36.36% in 2013, it saw an immense jump of 207.14% in 2014, continuing to rise significantly until 2017. After a peak in the growth rate during this year, the market experienced volatility, including a drastic 75.1% reduction in 2020. Post-2020, the market recovered, achieving a considerable 27.4% year-on-year increase in 2023. Standing at 372 thousand US dollars in 2023, the average annual growth rate for the last five years (2019-2023) was 3.19%. Forecasts indicate a steady upward trend with an average annual growth rate of 3.64% through 2028.
Future trends to watch for include changes in global sugar prices, trade policies between the US and Vietnam, and shifts in demand driven by Vietnam's economic conditions or health trends affecting sugar consumption. Monitoring these factors will be essential for anticipating future market behavior.
