Overcoming the difficulties in the Covid-19 pandemic, the Russia-Ukraine conflict and the economic recession, the livestock industry in Vietnam is still developing dynamically. Vietnam’s total livestock production in 2022 is worth about 21 billion USD, an increase of 5-6% over the same period in 2021.
VIETNAM’S LIVESTOCK INDUSTRY OVERVIEW
The livestock industry in Vietnam plays an important role in the national agricultural industry, contributing significantly to economic growth and the job market. Livestock accounts for about a quarter of the agricultural sector’s GDP and record steady annual growth of 4% to 6%.
The government of Vietnam has set a target of achieving a livestock industry growth rate of between 4% and 5% per year until 2025, and growth of 3% to 4% between 2026 and 2030.
To achieve this goal, Vietnam’s livestock industry is starting to shift from small-scale household farming to modern large-scale industrial processing.
In addition, the application of high technology and closed production along the value chain is increasingly popular in the livestock industry.
The livestock industry in Vietnam currently produces and consumes a wide range of products, including pork, poultry, eggs, beef, and milk.
NEW OPPORTUNITIES IN THE VIETNAM’S LIVESTOCK INDUSTRY
Vietnam’s livestock industry has many opportunities for foreign investors. The first is the trend of agricultural technology development.
In recent years, Vietnam has increased cooperation in high-tech agriculture with other countries such as China, Japan, Finland, and the Netherlands.
Some of the most potential opportunities are smart agriculture, value chain applications, machine and software development, genetics, and breeding.
The Vietnamese market is also increasingly favoring premium and organic products. Vietnam’s middle-class growth is currently ranked at the 7th fastest in the world and by 2030, it is predicted that the middle class will increase by 36 million people. As incomes rise and dietary preferences change, consumer demand for higher quality, healthier and more sustainable products is growing.
The F&B industry is booming in Vietnam, and it is expected to maintain its sustainable development because of the changing lifestyles of young people. This leads to a significant increase in demand for livestock products.
Vietnam’s livestock industry is developing dynamically and rapidly, foreign investors and businesses seize this opportunity to increase consumption output and expand market share.
LOOKING FOR A CHANCE TO EXPAND YOUR BUSINESS IN VIETNAM?
VIETSTOCK 2023 is The Premier International Feed, Livestock & Meat Industry show in Vietnam. Vietstock has been operating for nearly 20 years, Vietstock understands the Vietnam’s market and the Vietnam’s livestock industry. More info.
Vietstock is an innovative forum, bringing the livestock industry new solutions and the most advanced technologies. This is the perfect event to seek out new products, solutions, and ideas from leading brands in the livestock, aquaculture, and meat processing industries.
Vietstock is a B2B exhibition. This is a business forum where businesses and customers in the livestock industry connect, expand business, and grow revenue together.
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