Analyzing the forecast for milk gross production in Vietnam, we note a consistent upward trend from 2024 to 2028. The forecasted values for milk production show a year-on-year growth rate of approximately 3.4% from 2024 to 2025, and around 3.3% for the subsequent years up to 2028. The Compound Annual Growth Rate (CAGR) for the period of 2024 to 2028 is projected to be around 3.4%, indicating steady growth in milk production.
To provide context, in 2023, the gross production of milk stood at 499 million US dollars PPP. This serves as the baseline for the projected growth moving forward.
Future trends to watch for:
• Increasing consumer demand for dairy products, driven by rising incomes and urbanization.
• Government policies and incentives aimed at boosting domestic milk production.
• Technological advancements and productivity improvements in the dairy farming sector.
• Potential impact of climate change and environmental sustainability practices on production capacity.
