Vietnam's chicken meat production has shown significant growth over the past decade, standing at 1107.1 thousand metric tons in 2023. Year-on-year growth rates and CAGR have varied, with notable peaks and troughs. Major growth spikes include 17.96% in 2019, reflecting dynamic market shifts, and a substantial dip of -4.87% in 2020, possibly due to the pandemic's impact.
For the last two years: 2022 experienced a 3.73% increase, and 2023 saw a 3.52% rise in production. The five-year average annual growth rate (CAGR) from 2019 to 2023 stands at 5.69%, indicating consistent growth despite minor variations.
Forecasting the future, the production is anticipated to continue its upward trajectory, projecting a 2.57% average annual growth over the next five years, culminating in a 13.54% total increase by 2028.
Future trends to watch for include:
- Fluctuations in feed prices impacting production costs.
- Changes in consumer preferences towards poultry meat.
- Impact of potential new trade policies and international demand.
- Developments in disease control and biosecurity measures.
