Vietnam meat market is
anticipated to register impressive growth in the forecast period, 2023-2027, on
account of increasing consumption of various types of meat & meat products.
Increasing demand from the fast food joints is further driving the growth of the
Vietnam meat market in the upcoming five years.
Increasing Consumption Drives
Market Growth
Rapidly increasing
consumption of poultry meat, pork meat, along with frog & duck meat is
anticipated to drive the growth of the Vietnam meat market in the upcoming five
years. Increasing demands among the population to self-cook their meals along
with increasing inclination of the younger population toward online food
delivery services for their regular meals is also supporting the growth of the
Vietnam meat market in the next five years.
Vietnam is the 14th
most populated country in the world. With the growing population of 98.3
million in 2021, the demand for meat as a regular consumable food is
increasing. Also, the consumers in the country are highly inclined toward
western restaurants for their meat consumptions since these places provide,
innovative food items, event based celebration food, and growing trends of
social parties and get-together. Although, local restaurants in the country
also account for major 66% of shares when it comes to meat consumptions.
Increasing Imports Drive
Market Growth
Vietnam is one of the largest
importer of meat from neighboring countries. Australia is one of the largest
supplier of meat to the country. In the year 2020, Vietnam imported over 90,400
tons of carcass, chilled or frozen pork equal to 215 Mill. USSD, up by 357% in
volume and 460% in value from 2019, says the reports from Customs General
Department, Vietnam.
Frozen pork products are
mainly imported from five major markets: Russia, Brazil, Canada, the US and
Poland. Frozen pork products are anticipated to hold largest import shares of
the market, expecting increase from 5.5% to 6% CAGR growth in the next five
years. Increased focus on livestock production, maintenance of quality products
from the local market are some other factors responsible for the future growth
of the Vietnam meat market in the future five years.
E-Commerce Supports Market
Growth
Recent pandemic
situation shut down offline and physical stores due to increasing patient
counts being infected of COVID-19 virus. This led to expanding e-commerce
websites, and smartphone based services that provided the advantages of home
shopping. Through online platforms and mobile applications, consumers can avail
the services. Added advantages like home delivery, convenient shopping, lower
prices, offers & schemes further aided to the growth of the Vietnam meat
market. Being added in the regular grocery lists, the meat products available
on the grocery delivery apps also driving the growth in the online shopping of
the product and thus the growth of the market.
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Market Segmentation
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. Type segment of the
market is differentiated between raw and processed meat type. 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. The market analysis also studies
the regional segmentation to devise regional market segmentation, divided among
Northern region, Central region, Southern region.
Company Profile
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 is a
partial list of major market players of the companies responsible for the
growth of Vietnam meat market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Category
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Distribution Channel
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Regional scope
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Northern region, Central region, Southern region
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Key companies profiled
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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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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
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:
- Chicken
- Por
- Frog
- Duck
- Mutton
- Vietnam Meat Market, By Type:
- Vietnam Meat Market, By Distribution
Channel:
- Departmental Stores
- Specialty Stores
- Hypermarket/ Supermarket
- Online Sales Channel
- Others
- Vietnam Meat Market, By Region:
o Northern Region
o Central Region
o Southern Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam meat market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
-
Detailed analysis and
profiling of additional market players (up to five).
Vietnam Meat Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]