
Vietnam - Whole Fresh Milk - Market Analysis, Forecast, Size, Trends and Insights
Vietnam: Whole Fresh Milk Market 2023
Whole Fresh Milk Market Size in Vietnam
The Vietnamese whole fresh milk market was estimated at $X in 2022, standing approx. at the previous year. In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.4% against 2020 indices. Whole fresh milk consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Whole Fresh Milk Production in Vietnam
In value terms, whole fresh milk production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. Whole fresh milk production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Whole Fresh Milk Exports
Exports from Vietnam
In 2022, shipments abroad of whole fresh milk decreased by -33.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed mild growth. The pace of growth was the most pronounced in 2019 with an increase of 228%. The exports peaked at X tons in 2021, and then shrank significantly in the following year.
In value terms, whole fresh milk exports shrank dramatically to $X in 2022. In general, exports recorded a slight setback. The most prominent rate of growth was recorded in 2021 when exports increased by 218% against the previous year. As a result, the exports attained the peak of $X, and then fell remarkably in the following year.
Exports by Country
Hong Kong SAR (X tons) was the main destination for whole fresh milk exports from Vietnam, accounting for a 78% share of total exports. Moreover, whole fresh milk exports to Hong Kong SAR exceeded the volume sent to the second major destination, Macao SAR (X tons), sixfold. Cambodia (X tons) ranked third in terms of total exports with a 3.9% share.
From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR amounted to +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+25.3% per year) and Cambodia (-17.7% per year).
In value terms, Hong Kong SAR ($X) remains the key foreign market for whole fresh milk exports from Vietnam, comprising 75% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 17% share of total exports. It was followed by Cambodia, with a 2.8% share.
From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+16.5% per year) and Cambodia (-20.2% per year).
Export Prices by Country
The average whole fresh milk export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price showed a pronounced downturn. The pace of growth appeared the most rapid in 2013 an increase of 33%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.
Whole Fresh Milk Imports
Imports into Vietnam
In 2022, approx. X tons of whole fresh milk were imported into Vietnam; with an increase of 11% compared with the previous year. In general, imports posted significant growth. The growth pace was the most rapid in 2019 when imports increased by 65%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.
In value terms, whole fresh milk imports stood at $X in 2022. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2019 when imports increased by 57%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.
Imports by Country
In 2022, Australia (X tons) constituted the largest whole fresh milk supplier to Vietnam, with a 43% share of total imports. Moreover, whole fresh milk imports from Australia exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. New Zealand (X tons) ranked third in terms of total imports with an 11% share.
From 2012 to 2022, the average annual growth rate of volume from Australia stood at +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+24.0% per year) and New Zealand (+15.0% per year).
In value terms, Australia ($X) constituted the largest supplier of whole fresh milk to Vietnam, comprising 47% of total imports. The second position in the ranking was held by New Zealand ($X), with an 11% share of total imports. It was followed by France, with an 11% share.
From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+13.3% per year) and France (+21.8% per year).
Import Prices by Country
The average whole fresh milk import price stood at $X per ton in 2022, dropping by -4.1% against the previous year. In general, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and New Zealand ($X per ton), while the price for Thailand ($X per ton) and Uruguay ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the whole fresh milk market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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