Vietnam: Market for Prepared or Preserved Meat 2024

Market Size for Prepared or Preserved Meat in Vietnam

The Vietnamese prepared or preserved meat market amounted to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Prepared or Preserved Meat in Vietnam

In value terms, prepared or preserved meat production stood at $X in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Prepared or Preserved Meat

Exports from Vietnam

In 2022, exports of prepared or preserved meat from Vietnam declined to X tons, which is down by X% against the previous year's figure. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, prepared or preserved meat exports declined slightly to $X in 2022. Overall, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), Hong Kong SAR (X tons) and South Korea (X tons) were the main destinations of prepared or preserved meat exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared or preserved meat exported from Vietnam were Japan ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared or preserved meat export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Israel ($X per ton) and China ($X per ton), while the average price for exports to Japan ($X per ton) and Hong Kong SAR ($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 China (X%), while the prices for the other major destinations experienced a decline.

Imports of Prepared or Preserved Meat

Imports into Vietnam

Prepared or preserved meat imports into Vietnam surged to X tons in 2022, picking up by X% compared with the previous year's figure. Over the period under review, imports showed resilient growth. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, prepared or preserved meat imports soared to $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of prepared or preserved meat to Vietnam, accounting for a X% share of total imports. Moreover, prepared or preserved meat imports from Brazil exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an X% share.

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

In value terms, Brazil ($X) constituted the largest supplier of prepared or preserved meat to Vietnam, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Brazil amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average prepared or preserved meat import price amounted to $X per ton, rising by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and the United States ($X per ton), while the price for Brazil ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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