Vietnam Dairy Industry Report 2022: The value of dairy products imported into Vietnam in 2021 was $11.8 billion, a year-on-year increase of 12.4%

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Vietnamese dairy market

Vietnamese dairy market

Vietnamese dairy market

Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) — The “Vietnamese Dairy Industry Research Report 2022-2031” report has been added to from offer.

Vietnam’s dairy industry revenue nearly doubled from $4.4 billion in 2017 to $8.4 billion in 2021, with less than half of demand being met by domestic production. The value of dairy products imported into Vietnam in 2021 was $11.8 billion, a year-on-year increase of 12.4%.

According to the analyst’s analysis, there would be more than 200 dairy farmers in Vietnam by the end of 2021. The dairy market in Vietnam is mainly dominated by major players such as Vinamilk, Nestlé Vietnam, Nutifood, Frieslandcampina and TH Group . The number of cows in Vietnam will increase from 330,000 in 2019 to 700,000 in 2030.

Vietnam’s fresh milk production reached 1.2 billion liters in 2021 and will increase to 2 billion liters by 2030. Despite the increase in production, domestic fresh milk production can only meet 40 50% of domestic demand, the rest being mainly based on imports.

Besides depending on imported fresh milk, Vietnam also imports cows, animal nutrition products and animal feed production materials. To stay competitive, local businesses are looking for quality management and food safety solutions, while larger companies are investing in Industrial 4.0 technologies and R&D.

Per capita milk consumption in Vietnam was only 28 liters in 2021, lower than Thailand (35 liters) and Singapore (45 liters), with huge potential for growth. The analyst expects per capita milk consumption in Vietnam to reach 40 liters by 2030. Consumption is gradually increasing, driven by a large, young and rapidly growing population (about 100 million people) and the increase in the purchasing power of the country’s middle class.

Dairy companies also see growing opportunities to serve Vietnam’s elderly population (65+), which is expected to grow to 14% in 2040 from 7% in 2020.

Moreover, Vietnam’s dairy exports are growing rapidly. The value of Vietnam’s dairy exports exceeds $300 million. Vietnam’s dairy products are exported to more than 40 countries. According to this analysis, China has granted transaction codes to eight Vietnamese dairy companies (20 factories), allowing them to export their products to China.

In terms of product segmentation, milk powder and liquid milk account for nearly three-quarters of the Vietnamese dairy market size. Most of the milk powder imported into Vietnam is processed into re-processed milk. Among fluid milk, the preferred form is UHT milk due to its longer shelf life, especially in rural areas where cold chain facilities are not well developed.

According to this analysis, the fastest growing segment of the Vietnamese dairy market in terms of sales volume in 2021 is milk powder, with the production volume reaching about 152,000 tons, up about 13% from year on year, followed by yogurt, fluid milk, etc. .

According to this analysis, the demand for cheese and butter is increasing rapidly due to the growing influence of Western food in Vietnam, especially among the younger generation in urban areas.

According to the analyst, the demand for dairy products is expected to increase in the Vietnamese market from 2022 to 2031, with more market opportunities for investors. Organic dairy products, natural fresh dairy products and health food products containing dairy products in Vietnam are expected to maintain a rapid growth rate in the coming years.

Topics Covered:

  • Overview of Vietnam’s dairy industry

  • Economic and political environment of Vietnamese dairy industry

  • What is the impact of COVID-19 on the Vietnamese dairy industry?

  • Vietnam dairy market size, 2016-2021

  • Vietnam dairy market forecast, 2022-2031

  • Vietnam Dairy Import and Export Analysis

  • Analysis of major dairy companies in Vietnam

  • Key Drivers and Market Opportunities in Vietnam Dairy Industry

  • What are the main drivers, challenges and opportunities for the Vietnamese dairy industry between 2022 and 2031?

  • What is the expected turnover of the Vietnamese dairy industry between 2022 and 2031?

  • Which segment of the Vietnam dairy industry market is expected to dominate the market in 2031?

  • What are the major adverse factors facing the Vietnamese dairy industry?

Main topics covered:

1 Overview of Vietnam
1.1 Geographical location
1.2 Demographic structure of Vietnam
1.3 Economy of Vietnam
1.4 Minimum wage in Vietnam, 2011-2022
1.5 Impact of COVID-19 on Vietnam dairy industry

2 Vietnam dairy industry development environment
2.1 Brief history of dairy products in Vietnam
2.2 Types of dairy products in Vietnam
2.3 Political environment of the Vietnamese dairy industry

3 Supply and Demand Situation of Vietnam Dairy Industry
3.1 Supply Status
3.2 Application status

4 Import and export situation of Vietnam dairy industry
4.1 Import Status
4.1.1 Import Volume and Import Value
4.1.2 Main sources of imports of dairy products from Vietnam
4.2 Export Status
4.2.1 Export volume and export value
4.2.2 Main export destinations of Vietnamese dairy products

5 Market competition in the Vietnamese dairy industry
5.1 Barriers to entry in the Vietnamese dairy industry
5.1.1 Barriers to branding
5.1.2 Barriers to quality
5.1.3 Capital barriers
5.2 Competitive Structure of Vietnam Dairy Industry
5.2.1 Bargaining power of dairy product suppliers
5.2.2 Bargaining power of consumers
5.2.3 Competition in the Vietnamese dairy industry
5.2.4 Potential entries into the dairy industry
5.2.5 Dairy substitutes

6 Analysis of Major Dairy Companies in Vietnam
6.1 Vinegar milk
6.1.1 History of Vinamilk
6.1.2 Main Vinamilk Products
6.1.3 Vinamilk operating model
6.2 Friesland Campina Vietnam Co., Ltd.
6.2.1 History of FrieslandCampina Vietnam Co., Ltd.
6.2.2 Main Products of FrieslandCampina Vietnam Co., Ltd.
6.2.3 Operating model of FrieslandCampina Vietnam Co., Ltd.
6.3 Nutrifood Nutrition Food Joint Stock Company
6.3.1 History of Nutifood Nutrition Food Joint Stock Company
6.3.2 Main Products of Nutifood Nutrition Food Joint Stock Company
6.3.3 Nutifood Nutrition Food Joint Stock Company Operation Model
6.4 TH Real Milk
6.4.1 History of TH True Milk
6.4.2 Major Products of TH True Milk
6.4.3 TH True Milk operating model
6.5 Abbott
6.5.1 History of Abbott
6.5.2 Main Abbott Products
6.5.3 Abbott’s operating model
6.6 Nestle Vietnam
6.7 Vinassoy

7 Vietnam Dairy Industry Outlook, 2022-2030
7.1 Vietnam Dairy Industry Development Factor Analysis
7.1.1 Development Drivers and Opportunities for Vietnam Dairy Industry
7.1.2 Threats and Challenges for Vietnam Dairy Industry
7.2 Vietnam Dairy Industry Supply Forecast
7.3 Vietnam Dairy Market Demand Forecast
7.4 Vietnam Dairy Products Import and Export Forecast

For more information on this report, visit


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