The Vietnam animal feed market is projected to reach USD 2.27 billion by 2030, expanding at a CAGR of 3.6% from 2025 to 2030. The market is experiencing substantial growth due to a shift in consumer preferences toward poultry and cattle meat, moving away from traditional pork consumption. Rising disposable income levels, improved living standards, and increasing awareness of nutritional benefits have significantly influenced this transition, thereby driving demand for animal feed in the country.
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Market Dynamics
Key Drivers
- Shift in Meat Consumption Trends: Historically, pork was the dominant protein source in Vietnam. However, changing consumer preferences and rising disposable incomes have led to increased demand for poultry and cattle meat, positively impacting the animal feed industry.
- Growing Investments in R&D: Increased research and development investments are enhancing feed production efficiency, quality, and sustainability, driving the market forward.
- Industrialization of Livestock Farming: The transition from traditional pastoral farming methods to intensive and industrialized livestock production has boosted the demand for formulated animal feed.
- Rising Focus on Nutritional Enhancements: The use of fortified and nutrient-enriched feed, particularly in the poultry segment, is improving animal health and production efficiency.
Challenges
- Heavy Dependence on Imports: Vietnam imports a significant portion of its animal feed ingredients from neighboring ASEAN countries, creating supply chain vulnerabilities and dependency on external suppliers.
- Disease Outbreaks in Livestock: The threat of outbreaks like bird flu and avian influenza poses a challenge for the industry, necessitating strict biosecurity measures and high-quality feed formulations.
- Fluctuations in Raw Material Prices: Volatility in raw material costs, including corn, soybean meal, and wheat, can impact feed prices and overall market stability.
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Market Segmentation
By Product Type
1. Fodder
Fodder remains the dominant product in the Vietnam animal feed market, accounting for over 85% of the total volume in 2024. The industrialization of livestock breeding has significantly transformed traditional feeding methods, shifting from grazing-based feeding to formulated fodder-based diets. The demand for high-quality forage is expected to continue rising over the forecast period.
2. Compound Feed
Compound feed, formulated with essential nutrients, proteins, and vitamins, is gaining traction as farmers look for optimized nutritional solutions to enhance livestock productivity.
3. Other Feeds
This category includes specialty feed types, supplements, and premixes designed for specific livestock requirements.
By Livestock
1. Poultry Feed
The poultry segment led the market in 2024, capturing the largest revenue share. Growing consumer demand for poultry meat products and the need for enhanced immunity in birds against diseases like avian influenza and fowl pox have fueled the adoption of high-quality poultry feed.
2. Cattle Feed
Cattle feed is witnessing steady growth due to rising demand for dairy and beef products. Enhanced feed formulations containing probiotics and immune-boosting additives are gaining popularity.
3. Swine Feed
Despite a decline in pork consumption, the swine feed segment remains significant, driven by ongoing pork production and export opportunities.
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4. Aquafeed
With Vietnam being a major player in aquaculture, the aquafeed sector is also expanding, supporting the growth of fish and shrimp farming.
Competitive Landscape
The Vietnam animal feed market is characterized by the presence of both domestic and international players. Key companies are focusing on R&D investments, facility expansions, and partnerships to strengthen their market presence.
Key Players
- Cargill Vietnam
- CJ Vina Agri
- New Hope Group
- Mavin Group
- De Heus Vietnam
- GreenFeed Vietnam
Notable Developments
- Cargill’s Expansion in Vietnam: In January 2024, Cargill inaugurated a state-of-the-art premix plant in Binh Duong province, enhancing its capabilities in the animal feed sector. The facility aims to produce high-quality premix products tailored to the region’s needs, reinforcing Cargill’s commitment to supporting local farmers and the livestock industry.
Future Outlook
- Technological Advancements: The adoption of precision nutrition, AI-driven feed optimization, and automated feed production systems will play a crucial role in enhancing efficiency.
- Sustainability Initiatives: Companies are increasingly focusing on sustainable sourcing, reducing environmental impact, and adopting eco-friendly feed production techniques.
- Strengthening Local Production: Efforts to reduce import dependence and promote domestic raw material production will be key strategies for market growth.
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Conclusion
The Vietnam animal feed market is poised for steady expansion, driven by changing dietary habits, industrialized livestock farming, and increasing investments in R&D. Despite challenges like import dependence and disease outbreaks, technological advancements and sustainability initiatives will create new growth opportunities, positioning Vietnam as a significant player in the global animal feed industry.
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