Vietnam Meat Market

Vietnam Meat Market

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.

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.

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:
• Raw
• Processed
• Vietnam Meat Market, By Distribution Channel:
• Departmental Stores
• Specialty Stores
• Hypermarket/ Supermarket
• Online Sales Channel
• Others
• Vietnam Meat Market, By Region:
• Northern Region
• Central Region
• Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam meat market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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