Market Size of Vietnam Compound Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.21 Billion |
| Market Size (2029) | USD 16.19 Billion |
| CAGR (2024 - 2029) | 5.80 % |
| Market Concentration | Low |
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 estimated at USD 12.21 billion in 2024, and is expected to reach USD 16.19 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).
- 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.
