Compound Feed Market in Vietnam Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Compound Feed Market in Vietnam is segmented by Ingredient (Cereals, Oilseeds and Derivatives, Fish Meal and Fish Oil, Supplements, and Other Ingredients) and Animal Type (Ruminants, Swine, Poultry, Aquaculture, and Other Animal Types). The report offers market size and forecasts in terms of value (USD million) for all the above segments.

Vietnam Compound Feed Market Size

Vietnam Compound Feed Market Summary
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Study Period 2017-2027
Base Year For Estimation 2022
Market Size (2023) USD 11.54 Billion
Market Size (2028) USD 15.30 Billion
CAGR (2023 - 2028) 5.80 %
Market Concentration Low

Major Players

Vietnam Compound Feed Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Vietnam Compound Feed Market Analysis

The Vietnam Compound Feed Market size is expected to grow from USD 11.54 billion in 2023 to USD 15.30 billion by 2028, at a CAGR of 5.80% during the forecast period (2023-2028).

  • Growing livestock share in agricultural output and accelerating disposable income of consumers are the significant factors driving the compound feed market in the country. The presence of several extensive facilities such as Dabaco, Masan, Greenfeed, Vina, and Lai Thieu will drive the domestic production segment in the coming years.
  • Also, the increasing demand for meat and meat-based products is among the prime factors driving the demand for compound feed in the country. Growing regulatory pressure on companies has led to adopting hygienic animal husbandry practices, which results in increased consumer satisfaction when procuring meat and meat-based products. Feed manufacturing that incorporates all the guidelines laid out by the government is gaining importance in the region.
  • There has been an increased focus on research and development and, in turn, a more significant inflow of investments towards the same. Emerging technologies and demand for higher-quality meat products at lower prices have led to the development of efficient breeding processes utilizing statistical methods to determine genetic changes and characteristics. All these put the onus on the compound feed market to sustain a growing animal population.

Vietnam Compound Feed Market Trends

This section covers the major market trends shaping the Vietnam Compound Feed Market according to our research experts:

Increasing Demand for Meat and Meat-based Products

The demand for higher-quality meat at lower prices has been witnessing an upward trend in Vietnam. Economic growth has boosted the consumers' purchasing power, most of which is directed to the consumption of livestock meat. For instance, according to the OECD, per capita, meat consumption has increased from 49.9 kg in 2020 to 51.3 kg in 2021. The increase in meat consumption increases the demand for compound feed, contributing to market growth.

Along with this, the Vietnamese government, agencies, and ministries have introduced several schemes in the past, such as the livestock development strategy, to augment the livestock sector, which resulted in an increment in production and meat consumption. According to Law on Animal Husbandry, there is a need to apply science and technology in livestock production to improve the productivity, quality, efficiency, and competitiveness of the animal husbandry sector, to ensure food safety, epidemic safety, environmental protection, and to cope with climate changes.

Moreover, Vietnam's import demand for corn and grain by-products for animal feed has been growing. Corn account for the majority, while the rest will be wheat and barley, reflecting the trends of the meat industry. Therefore, the favorable government policies for animal husbandry and the demand for meat strengthen the compound feed market in the country during the forecast period.

Vietnam Compound Feed Market: Meat Consumption, Kilogram per capita, 2020-2021

The Poultry Segment Dominates the Market

Poultry feed is the highest consumed feed across the country due to growing consumer preferences for chicken, quail, and duck meat. The meat of poultry and eggs are referred to as the most important protein sources by the people in Vietnam thereby increasing consumption. For instance, per capita poultry meat consumption has raised from 11.8 kg in 2017 to 16.8 kg in 2021 which showcases the high demand for poultry and poultry-based products. It is also considered the second-largest meat source in the country. So, the poultry population is increasing for several years and reached 512.7 million in 2020 registering an annual growth rate of 5.1%, according to the National Institute of Animal Science, Vietnam. This increase in the population of poultry and its meat demand is raising the demand for compound feed in the country.

Along with this, poultry production is an important source of income for many rural households in the country. Many small and medium-level farmers are involved in poultry production. Additionally, in rural areas, cockfights are held annually in Vietnamese festivals. Hence, farmers in the country raise more cocks for this main function, which creates more demand for poultry in the country. Thus, this increase in demand makes poultry feed the largest segment.

Poultry feed was the most consumed commodity due to the public predilection for white chicken and duck flesh. This is raising the poultry meat production especially chicken. For instance, according to the Food and Agriculture Organization (FAO), the production of chicken meat increased from 786,354 metric ton in 2017 to 1,146,318 metric ton in 2020, registering an increase of 45.7%. Thus, the inflating production of meat indicates that the production of chicken and duck is also expanding, which further contributes to the demand for and production of feed. 

Vietnam Compound Feed Market: Poultry Meat Consumption, Kilogram per capita,  2017-2021

Vietnam Compound Feed Industry Overview

The Vietnamese compound feed market is highly fragmented, with several international and domestic players accounting for most of the market share. ADM Vietnam Co. Ltd, Cargill Incorporated, Alltech, Charoen Pokphand (CP) Vietnam, and De Heus Company Ltd are some of the major players in the country. Major international compound feed manufacturers are entering Vietnam through mergers and acquisitions of aquaculture and poultry feed producers. These companies bring technical expertise, thereby improving growth prospects.

Vietnam Compound Feed Market Leaders

  1. Charoen Pokphand (CP) Vietnam

  2. Cargill, Incorporated


  4. Alltech Inc.


*Disclaimer: Major Players sorted in no particular order

Vietnam Compound Feed Market Concentration

Vietnam Compound Feed Market News

  • November 2022: De Heus Inaugurated its first premix factory in Asia at May Industrial Park, Trang Bom district, Vietnam. It has a capacity of 60,000 tons. This will enable the company to ensure product quality and supply, reduce costs for the farmers and increase their production efficiency in Vietnam and the whole of Asia.
  • June 2022: Innovafeed and Cargill partnered to bring about healthy new ingredients to different types of animal feed, including compound feed. The agreement combines Innovafeed's expertise in formulating precision insect ingredients and Cargill's global animal nutrition capabilities to scale up the use of insect ingredients in multiple types of animal feed.

Vietnam Compound Feed Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Ingredient Type

      1. 5.1.1 Grains and Cereals

      2. 5.1.2 Oilseeds and Derivatives

      3. 5.1.3 Fish Meal and Fish Oil

      4. 5.1.4 Supplements

      5. 5.1.5 Other Ingredient Types

    2. 5.2 Animal Type

      1. 5.2.1 Ruminants

      2. 5.2.2 Swine

      3. 5.2.3 Poultry

      4. 5.2.4 Aquaculture

      5. 5.2.5 Other Animal Types


    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Charoen Pokphand (CP) Vietnam

      2. 6.3.2 Cargill Incorporated

      3. 6.3.3 ADM Vietnam Co. Ltd

      4. 6.3.4 De Heus Company Limited

      5. 6.3.5 Alltech Vietnam

      6. 6.3.6 Land O'Lakes Purina

      7. 6.3.7 Archer Daniels Midland

      8. 6.3.8 GreenFeed (Vietnam) Co. Ltd

      9. 6.3.9 New Hope Group

      10. 6.3.10 DeKalb Feeds

      11. 6.3.11 Kent Feeds

      12. 6.3.12 Proconco

      13. 6.3.13 Lai Thieu Feed Mill Co. Ltd

      14. 6.3.14 Nutreco NV

      15. 6.3.15 Austfeed


Vietnam Compound Feed Industry Segmentation

Compound feed is a nutritionally adequate feed for animals other than humans, made by a specific formula, compounded to be fed as the sole ration, and capable of maintaining life and promoting production without any additional substance being consumed except water. It is a combination of different concentrate feed ingredients in suitable proportions. The Vietnamese compound feed market is segmented by ingredients (cereals, oilseeds and derivatives, fish meal and fish oil, supplements, and other components) and animal types (ruminants, swine, poultry, aquaculture, and different animal types). The report offers market size and forecast value (USD million) for all the above segments.

Ingredient Type
Grains and Cereals
Oilseeds and Derivatives
Fish Meal and Fish Oil
Other Ingredient Types
Animal Type
Other Animal Types

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Vietnam Compound Feed Market Research FAQs

The Vietnam Compound Feed Market size is expected to reach USD 11.54 billion in 2023 and grow at a CAGR of 5.80% to reach USD 15.30 billion by 2028.

In 2023, the Vietnam Compound Feed Market size is expected to reach USD 11.54 billion.

Charoen Pokphand (CP) Vietnam, Cargill, Incorporated, DE HEUS COMPANY LIMITED, Alltech Inc. and ADM VIETNAM CO., LTD. are the major companies operating in the Vietnam Compound Feed Market.

Compound Feed in Vietnam Industry Report

Statistics for the 2023 Compound Feed in Vietnam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Compound Feed in Vietnam analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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