Press Release

Vietnam Animal Feed Market to Grow at CAGR of 6.15% through 2030

Surge in research and development activities is expected to drive the Vietnam Animal Feed Market growth in the forecast period.


According to TechSci Research report, “Vietnam Animal Feed Market – By Region and Competition, Forecast & Opportunities, 2030F”, the Vietnam Animal Feed Market stood at USD 54.21 Million in 2024 and is anticipated to project steady growth in the forecast period with a CAGR of 6.15% through 2030. The Vietnam animal feed market is shaped by several key factors. A primary driver is the rising demand for protein-rich food products, largely fueled by an expanding middle class with greater disposable incomes. Additionally, advancements in farming practices and technology have significantly increased the demand for high-quality feed. Government policies, including subsidies and incentives aimed at supporting the agricultural sector, further stimulate industry growth. Moreover, foreign direct investment in Vietnam's livestock and aquaculture sectors plays a critical role in influencing the animal feed market.

The surge in research and development (R&D) activities is emerging as a significant driver of the Vietnam animal feed market. As the demand for more efficient and sustainable feed solutions grows, companies in the sector are increasingly investing in R&D to develop innovative feed formulations that enhance animal health and productivity. This focus on R&D enables the introduction of advanced ingredients, such as alternative proteins and bioactive compounds, which offer nutritional benefits while addressing sustainability concerns. Furthermore, technological advancements in feed production, such as precision nutrition and feed efficiency optimization, are being driven by these R&D efforts. The growing emphasis on R&D not only supports the continuous improvement of feed quality but also helps in meeting the evolving regulatory standards and consumer preferences, positioning the market for long-term growth.


Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Animal Feed Market


The Vietnam Animal Feed Market is segmented into type, product, regional distribution, and company. 

Based on Product, Fodder have emerged as the dominating segment in the Vietnam Animal Feed Market in 2024. This is due to several key factors. First, the country's strong agricultural foundation, particularly in livestock and poultry farming, has led to a high demand for fodder as a primary nutritional source for animals. As farmers aim to increase livestock productivity and meet the growing demand for meat and dairy products, the need for high-quality fodder has become critical. Additionally, the relatively low cost of production and availability of raw materials, such as grasses and legumes, makes fodder an affordable and accessible option for many producers. Furthermore, the expanding livestock sector, supported by advancements in farming techniques and increased investment in the aquaculture industry, has further bolstered the demand for fodder. This segment’s dominance reflects its essential role in ensuring the health and growth of animals, contributing to the overall efficiency and profitability of the agricultural sector in Vietnam.

Based on Region, Central Vietnam have emerged as the fastest growing region in the Vietnam Animal Feed Market in 2024. The region benefits from a strategic location that supports robust agricultural and aquaculture activities, driving increased demand for animal feed. Additionally, Central Vietnam has seen significant investments in infrastructure, which has enhanced the efficiency of feed distribution and access to raw materials. The region's expanding livestock and poultry sectors, coupled with the growing adoption of modern farming practices, further fuel the need for high-quality animal feed. Moreover, government initiatives aimed at boosting agricultural productivity and supporting local farmers have created a favorable environment for market growth. These combined factors contribute to Central Vietnam's rapid expansion within the animal feed sector.

 

Major companies operating in the Vietnam Animal Feed Market are:

  • Thanh Nhon Corporation
  • Cargill Vietnam
  • Royal De Heus
  • GreenFeed (Vietnam) Co., Ltd.
  • The Charoen Pokphand (CP) Group
  • Japfa Comfeed
  • Proconco (Masan Nutri-Science)
  • East Hope Group Company
  • Lai Thieu Feed Mill Co.Ltd. (Vietnam)
  • American Feeds Vietnam

 

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Nanotechnology is becoming a transformative aspect of the Vietnam animal feed market, offering innovative solutions that enhance feed efficiency and animal health. By incorporating nanomaterials and nanostructures, animal feed manufacturers can improve the bioavailability of nutrients, leading to better absorption and utilization by livestock. This technology allows for the development of more precise and effective feed formulations, which can optimize growth rates, improve disease resistance, and enhance overall productivity in animals. Furthermore, nanotechnology can help in reducing the environmental impact of animal feed by enabling the use of smaller quantities of additives, thus lowering waste and improving sustainability. As the demand for high-quality, efficient, and sustainable feed continues to rise, nanotechnology is positioning itself as a critical driver of innovation and competitive advantage in the Vietnam animal feed market,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

Vietnam Animal Feed Market By Type (Swine Animal Feed, Poultry Animal Feed, Ruminant Feed, Aquatic Feed, Others), By Product (Fodder, Forage, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam Animal Feed 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 Animal Feed Market.

 

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