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.
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 | |
| Supplements | |
| Other Ingredient Types |
| Animal Type | |
| Ruminants | |
| Swine | |
| Poultry | |
| Aquaculture | |
| Other Animal Types |
Vietnam Compound Feed Market Size Summary
The compound feed market in Vietnam is poised for significant growth, driven by increasing livestock contributions to agricultural output and rising consumer disposable incomes. The market is supported by major domestic players like Dabaco, Masan, Greenfeed, Vina, and Lai Thieu, which are expected to bolster domestic production. The demand for meat and meat-based products is a primary driver, with regulatory pressures encouraging hygienic animal husbandry practices that enhance consumer satisfaction. The focus on research and development, alongside investments in emerging technologies, is fostering efficient breeding processes, which are crucial for sustaining the growing animal population. Economic growth has further increased consumers' purchasing power, leading to a higher demand for quality meat at competitive prices, thereby boosting the compound feed market.
Poultry feed emerges as the most consumed segment due to the rising preference for poultry meat, which is a significant protein source in Vietnam. The increasing poultry population and meat demand are key factors driving the demand for compound feed. Poultry production also serves as a vital income source for rural households, with many small and medium farmers engaged in this sector. The market is highly fragmented, with both international and domestic players like ADM Vietnam Co. Ltd, Cargill Incorporated, Alltech, Charoen Pokphand (CP) Vietnam, and De Heus Company Ltd holding substantial market shares. Recent developments, such as De Heus's inauguration of a premix factory and the partnership between Innovafeed and Cargill, highlight the ongoing efforts to enhance product quality and efficiency in the region.
Vietnam Compound Feed Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Ingredient Type
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2.1.1 Grains and Cereals
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2.1.2 Oilseeds and Derivatives
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2.1.3 Fish Meal and Fish Oil
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2.1.4 Supplements
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2.1.5 Other Ingredient Types
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2.2 Animal Type
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2.2.1 Ruminants
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2.2.2 Swine
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2.2.3 Poultry
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2.2.4 Aquaculture
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2.2.5 Other Animal Types
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Vietnam Compound Feed Market Size FAQs
How big is the Vietnam Compound Feed Market?
The Vietnam Compound Feed Market size is expected to reach USD 12.21 billion in 2024 and grow at a CAGR of 5.80% to reach USD 16.19 billion by 2029.
What is the current Vietnam Compound Feed Market size?
In 2024, the Vietnam Compound Feed Market size is expected to reach USD 12.21 billion.
