The meat market in Vietnam reached a volume of 6.37 million metric tons in 2023, reflecting a slight year-on-year growth of 0.55%. Over the last two years, the market has seen incremental increases, with a slight dip in 2020. The Compound Annual Growth Rate (CAGR) over the past five years was 0.46%. The period from 2014 to 2023 demonstrates sporadic growth and fluctuations, with notable growth spurts in 2015 and 2021, and a significant drop in 2020.
Looking forward, the forecasted data indicates a moderate yet steady increase in meat market volume, reaching 6.55 million metric tons by 2028. The forecasted 5-year CAGR stands at 0.44%, with an anticipated overall growth rate of 2.23% from 2024 to 2028.
Future trends to watch for include:
- Potential impacts of economic fluctuations and consumer spending on meat consumption.
- Health and lifestyle trends influencing dietary preferences.
- Developments in meat alternatives and their market penetration.
- Policy changes and their effects on production and import regulations.
