The Butter and Ghee market in Vietnam has witnessed significant fluctuations over the past decade. From a peak of 16.0 thousand metric tons in both 2015 and again in 2018, there was a dramatic drop in 2017 to 5.0 thousand metric tons. The market has since stabilized but at a lower level, maintaining around 13.0 thousand metric tons from 2019 to 2023. Year-on-year variations in recent years show relative stability with 0% change in 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at -4.07%, indicating a general decline. Forecasted data suggests marginal decreases in market volume, moving from 12.95 thousand metric tons in 2024 to 12.8 thousand metric tons by 2028, with a forecasted 5-year CAGR of -0.23% and an overall decline rate of -1.16% during the forecast period.
Future trends to watch for include:
- Potential market stabilization and recovery based on consumer demand shifts.
- Impact of new product innovations and healthier alternatives on market volume.
- Influence of economic conditions and supply chain efficiencies on market fluctuations.
