The raw sugar equivalent demand in Vietnam is forecasted to observe a slight downward trend from 2024 to 2028. The demand is expected to decrease gradually from 1.85 million metric tons in 2024 to 1.8 million metric tons in 2028. This indicates a consistent annual decline. In 2023, the actual demand stood at 1.86 million metric tons.
- Year-on-year variation: From 2023 to 2024, there is a 0.5% decrease. From 2024 to 2025, a 0.54% decrease follows. Between 2026 and 2027, the drop is about 0.55%, and from 2027 to 2028, it is 0.55% as well.
- CAGR (2023-2028): The compound annual growth rate over the last five years is approximately -0.60%.
Future trends to watch for include possible shifts in consumer behavior towards healthier diets, regulatory changes affecting sugar imports and production, and the impact of technological advancements in the agriculture sector affecting sugar yield and efficiency.
