In 2023, the beef meat demand in Vietnam stood at 1.07 million metric tons, reflecting a slight year-on-year decrease of 0.56%. Over the past two years, the demand showed a mixed trend, with a modest increase in 2021 followed by stabilization in 2022 and a small decline in 2023. The compound annual growth rate (CAGR) from 2019 to 2023 was -0.075%, indicating a minor average annual decline. Examining a longer period, the sector experienced fluctuations but generally moved towards stability despite minor dips and rises.

Future trends to watch for:

Continued stabilization around 1.04 million metric tons through to 2028.
The 5-year forecasted CAGR of -0.48% suggests a marginal continued decline.
Potential influences from economic factors, changing dietary preferences, and policy developments.