Vietnam Cattle Feed Market to be dominated by the Dairy Cattle through 2028
Growing demand for animal
protein and increasing awareness of animal welfare is expected to drive the
growth of Vietnam Cattle Feed Market in the forecast period, 2024-2028.
According to TechSci Research
report, “Vietnam Cattle Feed Market - By
Region, Competition Forecast and Opportunities, 2018-2028,” the Vietnam
Cattle Feed Market is anticipated to grow at
a steady rate in the forecast period, 2024-2028. The Vietnam cattle feed market
is a rapidly growing industry, driven by a combination of factors such as
rising demand for animal protein, increasing industrialization of livestock
production, and the need for improved feed quality and nutrition. Vietnam is
one of the fastest-growing economies in Southeast Asia, and its livestock
sector has grown significantly over the past decade. The country is a major
exporter of livestock products, including meat and dairy products, and has seen
significant investments in feed production and processing.
The market for cattle feed in
Vietnam is dominated by a few large players, with most of the feed production
concentrated in the southern part of the country. The main types of feed
produced in Vietnam are concentrate feed, forage, and mixed feed. Concentrate
feed is the most popular type, as it contains a high concentration of nutrients
and is suitable for feeding cattle in confined systems.
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The Vietnam Cattle Feed Market can be segmented by animal type, by
ingredients, by region and competitive landscape.
The
Vietnam Cattle Feed Market can be divided into Dairy Cattle, Beef Cattle,
Others, based on animal type. Dairy Cattle segment is expected to grow in the
forecast period owing to the growing demand for dairy products, higher
profitability, government support, increased investment in dairy feed
production, and improved genetics. As the Vietnamese population becomes more
affluent, there is a growing demand for dairy products such as milk, cheese,
and yogurt. This has led to an increase in the number of dairy farms and the
need for more dairy cattle. Dairy cattle are generally more profitable than
beef cattle because they produce milk, which can be sold for a higher price
than beef. In addition, dairy cattle can be milked for several years, while beef cattle are typically sold after one or
two years. With the
growing demand for dairy products, there has been an increase in investment in
dairy feed production in Vietnam. This has led to the development of new feed
formulations and technologies that are specifically designed for dairy cattle.
The
Vietnam Cattle Feed Market is divided into Corn, Soyabean Meal, Wheat,
Oilseeds, Additives, Others, based on ingredients. The Corn segment is expected
to acquire the largest share in the coming years due to availability of raw
materials, nutritional value, high demand, and stable prices. Corn is one of
the most widely used ingredients in cattle feed production, and its demand is
expected to continue to grow as the livestock industry expands in Vietnam. This
is particularly true for the dairy cattle segment, which requires a high-energy
diet to maintain milk production. Corn can be used in a variety of feed
formulations, from concentrate feeds to forage and mixed feeds. It can be
utilized in various kinds of cattle feed. Energy-dense maize is a great source
of fiber, protein, and other vital nutrients. It provides the necessary
energy for cattle to grow and maintain their body weight, making it a critical
component of cattle feed.
The
Vietnam Cattle Feed Market is divided into Northern, Central, Southern, based
on region.
Major companies operating
in Vietnam Cattle Feed Market are:
- CJ Vina Agri Co., Ltd.
- C.P. Vietnam Corporation
- GreenFeed Vietnam Corporation
- Anova Feed Joint Stock Company
- Dabaco Group Joint Stock Company
- Hoang Long Livestock Production One Member Limited Liability Company
- Mavin Group Joint Stock Company
- De Heus Animal Nutrition Vietnam
- BASF Vietnam Co., Ltd.
- Cargill Vietnam
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“The
Vietnam cattle feed market is a rapidly growing industry, driven by increasing
demand for animal protein. The adoption of precision fermentation technology
and expansion of the dairy industry are also key trends in the market. However,
the high production costs, feed quality and safety issues, and limited
availability of raw materials pose significant challenges to the industry.
Nevertheless, with investments in research and technology, and the development
of the supply chain, the Vietnam cattle feed market presents significant growth
opportunities for producers and investors.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Vietnam Cattle Feed Market By Animal Type (Dairy
Cattle, Beef Cattle, Others), By Ingredients (Corn, Soyabean Meal, Wheat,
Oilseeds, Additives, Others), Region, Competition Forecast & Opportunities,
2018-2028F,” has evaluated the future growth potential
of Vietnam
Cattle 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 Cattle Feed Market.
Contact
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