Vietnam's meat production has seen significant variations over the years with a marked decrease in 2020 by -3.96% followed by a robust recovery of 6.38% in 2021. As of 2023, Vietnam's meat production stood at 5.43 million metric tons with a minimal year-on-year increase of 1%. From 2019 to 2023, the compound annual growth rate (CAGR) was relatively modest at 0.88%. Looking forward, the forecasted CAGR from 2024 to 2028 is slightly lower at 0.8%, translating to an overall growth rate of 4.04% during this five-year period.
Future trends to watch for:
- Changing consumer preferences towards more diverse protein sources which may affect meat production trends.
- Potential impacts of global climate changes on meat production capacities and supply chains.
- Technological advancements and their role in increasing production efficiency and sustainability in the meat industry.
