The wheat market size in Vietnam has shown steady growth over the past decade, reaching 1.44 million metric tons in 2023. The year-on-year variation for 2023 was 1.33%, with a CAGR of 1.27% over the last five years. Notable changes in the past include a significant 16.47% increase in 2015 and a decrease of 1.15% in 2017. From 2018-2023, annual growth has been fairly consistent, averaging around 1.5% year-on-year.
Looking forward, the forecast indicates continued but slower growth, with an expected CAGR of 0.99% over the next five years, leading to an anticipated market size of 1.54 million metric tons by 2028. Trends to watch for future include potential impacts of climate change on wheat supply, shifts in domestic agricultural policies, and global trade dynamics affecting Vietnam’s wheat imports.
