Vietnam Meat Market, By Product (Chicken, Pork, Frog, Duck, Mutton), By Type (Raw and Processed), By Distribution Channel (Departmental Stores, Specialty Stores, Hypermarket/ Supermarket, Online Sales Channel and Others (Direct Sellers, General Merchandised Retailers, etc.)), By Region, By States, Competition Forecast & Opportunities, 2027
Vietnam meat market is projected to register growth at a formidable rate during the forecast period, 2023-2027.The market growth can be attributed to the rise in commercial food chains offering meat and meat products.
Besides, an increase in consumption of poultry meat, pork meat, frog & duck meat, and a surge in demand among the population to self-cook their meals, are anticipated to drive the Vietnam meat market. The rising inclination of the young population toward online food delivery services for their regular meals is expected to boost the market growth. Vietnam is the world’s 14th most populous country. With a projected population of 98.3 million in 2021, the demand for meat as a staple food is rising. Furthermore, consumers in the country favor western restaurants for their meat consumption because these establishments offer innovative food items, event-based celebration food, and growing trends of social parties and get-togethers. Local restaurants in the country account for a significant 66% of meat consumption. Vietnam is a major importer of meat from neighbouring countries.Australia is a major supplier of meat to the country.
According to Customs General Department reports, Vietnam imported over 90,400 tonnes of carcass, chilled or frozen pork worth USD25 million in 2020, up 357% in volume and 460% in value from 2019. Most frozen pork products are imported from five major markets: Russia, Brazil, Canada, the United States, and Poland. Frozen pork products are expected to hold the largest import share of the market, with a CAGR of 5.5-6% over the next five years. Other factors that contribute to this include a greater emphasis on livestock production and the preservation of high-quality products from the local market.
The Vietnam meat market is segmented by product, type, distribution channel, competitional landscape, and regional distribution.Based on product, the market is further segmented into chicken, pork, frog, duck, and mutton.
Pork products are expected to dominate the Vietnam meat market owing to their increasing consumption and increasing import of the pork meat. Major players operating in the Vietnam meat market are Classic Fine Foods Hanoi, Fishmarket Vietnam Co Ltd, Tienlong Company Limited, Hoa Phat Group, Vissan Joint Stock Company, Duc Viet Food Joint Stock Company, Masan MEATLife, among others.
• To analyze the historical growth in the market size of the Vietnam meat market from 2017 to 2021. • To estimate and forecast the market size of Vietnam meat market from 2023 to 2027 and growth rate until 2027. • To classify and forecast the Vietnam meat market based on product, type, distribution channel, region, and company. • To identify the dominant region or segment in the Vietnam meat market. • To identify drivers and challenges for the Vietnam meat market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Vietnam meat market. • To identify and analyze the profiles of leading players operating in the Vietnam meat market. • To identify key sustainable strategies adopted by market players in Vietnam meat market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers who could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the country. The analyst calculated the market size of the Vietnam meat market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Market research and consulting firms • Government bodies such as regulating authorities and policy makers • Organizations, forums, and alliances The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Vietnam meat market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Vietnam Meat Market, By Product: o Chicken o Pork o Frog o Duck o Mutton • Vietnam Meat Market, By Type: o Raw o Processed • Vietnam Meat Market, By Distribution Channel: o Departmental Stores o Specialty Stores o Hypermarket/ Supermarket o Online Sales Channel o Others Direct Sellers General Merchandised Retailers • Vietnam Meat Market, By Region: o Northern Region o Central Region o Southern Region
Company Profiles: Detailed analysis of the major companies present in Vietnam meat market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Our reports have been used by over 10K customers, including:
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120 pages •
By Infiniti Research Limited
• Aug 2022
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