The raw sugar equivalent market size volume in Vietnam has shown a general upward trend from 2014 to 2023, starting from 909.0 thousand metric tons in 2014 to 988.0 thousand metric tons in 2023. From the analysis, it can be noted that while the year-on-year variation peaked significantly at over 2% in earlier years like 2015, 2016, and 2017, recent years have shown more stable growth with year-on-year changes around 0.41% in 2023.
The Compound Annual Growth Rate (CAGR) for the last five years (up to 2023) stands at 0.45%, indicating steady but modest growth. Future projections for the market size volume suggest continued growth, reaching 1,010.0 thousand metric tons by 2028. The forecasted five-year CAGR from 2023 to 2028 drops slightly to 0.34%, signifying slower growth rates but continued market expansion.
- Growth from 2014 to 2023: 8.69%
- Year-on-year variation in 2023: 0.41%
- CAGR for 2018 to 2023: 0.45%
- Forecasted CAGR for 2023 to 2028: 0.34%
Future trends to watch for include potential fluctuations in global sugar prices, changes in domestic production capacity, and evolving consumer preferences for sweeteners, which could influence market dynamics.
