Vietnam: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Vietnam

In 2022, the Vietnamese butter and dairy spreads market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption posted resilient growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Exports of Butter And Dairy Spreads

Exports from Vietnam

In 2022, approx. X tons of butter and dairy spreads were exported from Vietnam; waning by X% compared with the previous year's figure. Over the period under review, exports recorded a sharp reduction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, butter and dairy spreads exports dropped dramatically to $X in 2022. In general, exports showed a sharp slump. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for butter and dairy spreads exports from Vietnam, with a X% share of total exports. Moreover, butter and dairy spreads exports to the United States exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X kg), fourfold. Canada (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Canada (X% per year).

In value terms, the United States ($X) remains the key foreign market for butter and dairy spreads exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Canada (X% per year).

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of X%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Cambodia ($X per ton) and Lao People's Democratic Republic ($X per ton), while the average price for exports to Canada ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Vietnam

In 2022, after two years of decline, there was significant growth in overseas purchases of butter and dairy spreads, when their volume increased by X% to X tons. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, butter and dairy spreads imports soared to $X in 2022. Overall, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest butter and dairy spreads supplier to Vietnam, accounting for a X% share of total imports. Moreover, butter and dairy spreads imports from New Zealand exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Uruguay (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Uruguay (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and dairy spreads to Vietnam, comprising X% of total imports. The second position in the ranking was taken by France ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Uruguay (X% per year).

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably 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 France ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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