Vietnam Meat Market to Grow with Advancing Technology until 2027
Rising disposable income is
driving the growth of the Vietnam Meat Market, in the forecast period,
2023-2027F.
According to TechSci report on, “Vietnam
Meat
Market - By Region, Competition
Forecast & Opportunities, 2027”,
Vietnam meat market is anticipated to grow with an impressive CAGR in the
forecast period, 2023-2027 on the account of growing
food & beverage industry in the country. Surging demand for the meat
products, and fast food is driving the growth of the Vietnam meat market in the
upcoming five years.
Increasing
import and export of meat products is also anticipated to support the growth of
the Vietnam meat market in the next five years. Rising animal husbandry
practices, growing poultry farming, and pork production in the country also
substantiate the growth of the Vietnam meat market in the future five years.
Increasing
livestock production, expanding slaughter industry, and growing number of
industrial sized farms for the animal meat is further substantiating the growth
of the Vietnam meat market in the forecast years. Rising disposable income
among the younger population, their inclination toward fast food, and online
food delivery purposes is also some of the major driving factors of the Vietnam
meat market.
Increased
government involvement and initiatives thus taken to enhance the industry
growth involves favorable schemes for the import and export of the meat product
along with increasing financial support and investments from the FDI thus drive
the growth of the Vietnam meat market in the next five years.
Growing
number of health conscious consumers, that are inclined toward body building,
and consuming high protein content food and also increasing the consumption of
meat products thus aiding the growth of the Vietnam meat market in the forecast
years through 2027.
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market data Figures spread through 70
Pages and an in-depth TOC on "Vietnam Meat Market"
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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 anticipated to hold the largest revenue shares if the market and
dominate the market segment in the upcoming five years on the account of
increasing consumption of the products.
Moreover,
increasing import of the pork meat from the neighboring countries like
Australia, Thailand, India, etc. Also, the livestock production of pork in the
country is increasing and aiding to the growth of the Vietnam meat market in
the next five years. Chicken sub-segment is also anticipated to hold the
significant growth in the future five years on the grounds of increasing
poultry farming in the country. Surge in the demands for chicken-based dishes,
and increased consumption of eggs are driving the growth of the Vietnam meat
market in the forecast years.
Type
segment of the market is differentiated between raw and processed meat type. Processed
meat type is anticipated to hold the largest revenue shares of the market and
dominate the market segment due to increasing demand for the frozen and
processed meat products. Moreover, increasing imports of the frozen pork
further substantiates the growth of the Vietnam meat market.
Distribution
channel market segmentation is defined among departmental stores, specialty
stores, hypermarket/ supermarket, online sales channel and others like direct
sellers, general merchandised retailers, etc. Departmental stores are
anticipated to hold the largest revenue shares of the market and dominate the
market segment in the upcoming five years on the account of convenience of the
consumers and availability of the multiple brands & their products at one
place for the consumers to chose from.
Moreover,
online sales channel is anticipated to register fastest growth in the next five
years on the grounds of developing e-commerce sector in the country. The market
growth is majorly influenced of evolving consumer’s shopping behavior.
Advantages of home delivery, multiple schemes, and offers for the regular
customers, and subscribers of the services, are some of the influential methods
of the e-commerce channels that promotes the market growth.
A partial list of major market players of the Vietnam meat market
includes:
·
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
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“Food & beverage industry
in the country is expanding exponentially due to rapidly increasing demands for
the fast food & other meat products from working populations of the
country. Surge in the demand for healthy & disease free meat products and
thus increasing research and development to satisfy the consumer demands
meanwhile following the animal welfare regulations of the authorities, is
driving the growth of the market. Government’s stringent regulations, and
schemes related to the products, their production & maintenance of
authenticity all provide confirmations of customer satisfaction. New market
players may invest in research and innovative product development along with
the innovative packaging for future brand establishments,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“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” has evaluated the
future growth potential of Vietnam meat market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Vietnam meat market.
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