The Cream market in Vietnam has shown moderate growth from 2014 to 2023, with overall volume increasing from 3 thousand metric tons to 6.0 thousand metric tons. Notably, the market volume remained stable from 2014 to 2015 at 3.0 thousand metric tons, and surged by 66.67% to 5.0 thousand metric tons in 2016. From 2017 to 2019, the volume plateaued at 5.0 thousand metric tons before experiencing a slight dip in 2020 to 4.75 thousand metric tons. A strong recovery occurred in 2021 with a 26.32% increase, and from then the volume has stabilized at 6.0 thousand metric tons till 2023.
- 2023 year-on-year: 0%
- CAGR (2019-2023): 3.71%
The forecast predicts continued growth with an estimated volume of 6.96 thousand metric tons by 2028, reflecting a 2.18% CAGR over the next five years and a total forecasted growth rate of 11.36% from 2024 to 2028.
Future trends to watch for include potential market expansions driven by increasing consumer demand for dairy products, innovation in product offerings, and rising health-consciousness among the Vietnamese population which could spur greater consumption of creams with health benefits.
