The sesame seed processing industry in Vietnam experienced significant fluctuations from 2014 to 2023. Starting with 21.0 thousand metric tons in 2014, the industry saw a notable rise to 25.0 thousand metric tons in 2016 before plunging dramatically to 8.0 in 2017. This was followed by a strong rebound to 18.0 in 2018. In recent years, values have been more stable but on a declining trend: 15.0 in 2020 stayed constant through 2022, followed by a decline to 14.0 in 2023. Year-on-year variation was -6.67% in 2023, and the compound annual growth rate (CAGR) for the last five years is -4.9%.
The forecast through 2028 predicts a continuing decline in processing volume, decreasing to 12.0 thousand metric tons with a forecasted 5-year CAGR of -3.04% and a 5-year overall growth rate of -14.29%. The industry should prepare for continued challenges, particularly in addressing decreasing yields and potential market shifts.
Future trends to watch include potential market diversification, technological advancements in processing methods, and shifts in consumer demands which might mitigate the downward trend. Additionally, global market conditions and trade policies could also significantly impact the industry's trajectory.
