Vietnam's whole condensed milk production has shown steady growth from 2023, which recorded a production of 29.43 thousand metric tons. The production forecast indicates an increase to 30.53 thousand metric tons in 2024, representing a year-on-year increase of 3.74%. This upward trend continues with 31.76 thousand metric tons in 2025 (4.03% increase), 32.96 thousand metric tons in 2026 (3.78% increase), 34.14 thousand metric tons in 2027 (3.57% increase), and 35.29 thousand metric tons in 2028 (3.37% increase).
From 2023 to 2028, the compounded annual growth rate (CAGR) is expected to be approximately 3.70%, indicating consistent positive growth.
Future trends to watch for:
- Technological advancements in production methods.
- Shifts in consumer preferences towards health-conscious and sustainable products.
- Impact of economic policies and trade agreements on dairy imports and exports.
- Potential effects of climate change on milk production yields.
