Vietnam's refined sugar production has shown a fluctuating trend from 2013 to 2023. In 2023, the production stood at 1.24 million metric tons. From 2013 to 2016, there was a general decline with a significant drop in 2016. However, the production saw a brief resurgence in 2017 before continuing its downward trend until 2020. The years 2021 to 2023 experienced slight stability, marking modest year-on-year increases around 0.43%.
Looking ahead, the forecasted data from 2024 to 2028 suggests a very gradual increase in production levels, with a forecasted compound annual growth rate (CAGR) of 0.33%. This indicates a period of stabilization and slight growth after previous declines, culminating in a projected production of 1.27 million metric tons by 2028.
Future trends to watch for include the impact of technological advancements in production, changes in domestic and global demand for sugar, and policy shifts that might affect the sugar industry in Vietnam. Sustainability and the move towards more eco-friendly production methods could also play a crucial role in shaping the future landscape of refined sugar production in the country.
