Vietnam Compound Feed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Vietnam Compound Feed Market 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).

Market Snapshot

Vietnam Compound Feed Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 4.6 %

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Market Overview

The Vietnam compound feed market is projected to register a CAGR of 4.6% during the forecast period (2021-2026).

The effects of the COVID-19 pandemic are a combination of both supply and demand. This led to the disruption of compound feed production in the country and the supply of raw materials from other countries. Farmers need to cut down their spending due to the declining income and fear of an uncertain future.

Growing livestock share in agricultural output and accelerating disposable income of consumers are the significant factors driving the compound feed market in the country. Among all the types of animals, swine is forecast to be the fastest-growing segment over the forecast period. Vietnam's compound feed industry is dominated by international players such as the United States' Cargill, Holland's De Heus, Thailand's Charoen Pokphand Group, and others. According to the Ministry of Agriculture and Rural Development (MARD), the country has around 239.0 feed plants, out of which 61.0 belong to foreign-invested firms. The foreign investors hold more than 50.0% of the market share, and they are planning to accelerate the production of feed further to meet the rising consumer demand. Hence, all these factors are driving the compound feed market in the country.

Scope of the Report

Compound feed is the fodder that is blended from various raw materials and additives. These blends are formulated according to the specific requirements of the target animal. They are manufactured by feed compounders as meal types, pellets, or crumbles. The Vietnam compound feed market 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).

Ingredient Type
Grains and Cereals
Oilseeds and Derivatives
Fish Meal and Fish Oil
Supplements
Other Ingredient Types
Animal Type
Ruminants
Swine
Poultry
Aquaculture
Other Animal Types

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Key Market Trends

Increasing Demand for Meat and Meat-based Products

The demand for higher quality meat at lower prices has been witnessing an upward trend over the years, and the economic growth has boosted the consumers' purchasing power, most of which is directed to the consumption of livestock meat. The Vietnamese government, agencies, and ministries have introduced several schemes in the past, such as livestock development strategy, to augment the livestock sector, which resulted in the increment of production and meat consumption. According to Law on Animal Husbandary, 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, so as to ensure food safety, epidemic safety, environmental protection, and cope with climate changes. Thus, favorable government policies for animal husbandry, coupled with the demand for meat, strengthen the compound feed market in the country.

Vietnam Compound Feed Market Key Trends

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. 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. According to the Food and Agriculture Organization (FAO), the production of chicken meat increased from 873,522 metric ton in 2017 to 1,089,111 metric ton in 2019, registering an increase of 12.2%. 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 Growth

Competitive Landscape

The Vietnam compound feed market is highly fragmented, with several international and domestic players accounting for the majority of the market share. New product launches, partnerships, expansions, and mergers and acquisitions are the major strategies adopted by the leading companies in the compound feed market.

Recent Developments

In January 2021, Alltech E-CO2 launched the Feeds EA model to help feed manufacturers and farmers measure and lower their feed footprint. Feeds EA measures the environmental impact of feed production at the feed mill level by assessing the impact of existing compounds or blends. It can calculate emissions from a database of more than 300 ingredients, including raw materials, soya products, byproducts, and additives.

In October 2018, Cargill opened a new feed mill in Binh Duong province to better serve livestock farmers in South Vietnam. The mill is Cargill’s 12th animal nutrition facility in the country, and it is the company’s largest and most technologically advanced. Binh Duong provided a strategic location for Cargill to open this feed mill.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    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

  5. 5. MARKET SEGMENTATION

    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

  6. 6. COMPETITIVE LANDSCAPE

    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 Vitenam

      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

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Vietnam Compound Feed Market market is studied from 2016 - 2026.

The Vietnam Compound Feed Market is growing at a CAGR of 4.6% over the next 5 years.

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

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