Vietnam: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in Vietnam

In 2022, after two years of decline, there was significant growth in the Vietnamese yoghurt and fermented milk market, when its value increased by X% to $X. Overall, consumption enjoyed a prominent expansion. Yoghurt and fermented milk consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Yoghurt and Fermented Milk in Vietnam

In value terms, yoghurt and fermented milk production amounted to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Yoghurt and Fermented Milk

Exports from Vietnam

In 2022, after three years of growth, there was significant decline in shipments abroad of yoghurt and fermented milk, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded strong growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, yoghurt and fermented milk exports reduced rapidly to $X in 2022. Overall, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for yoghurt and fermented milk exports from Vietnam, with a X% share of total exports. Moreover, yoghurt and fermented milk exports to Cambodia exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), sevenfold. China (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and China (X% per year).

In value terms, Cambodia ($X) remains the key foreign market for yoghurt and fermented milk exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Cambodia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average yoghurt and fermented milk export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Yoghurt and Fermented Milk

Imports into Vietnam

Yoghurt and fermented milk imports into Vietnam reached X tons in 2022, increasing by X% against 2021. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, yoghurt and fermented milk imports skyrocketed to $X in 2022. Over the period under review, imports recorded strong growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of yoghurt and fermented milk to Vietnam, with a X% share of total imports. Moreover, yoghurt and fermented milk imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by New Zealand (X tons), with a X% share.

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

In value terms, Thailand ($X) constituted the largest supplier of yoghurt and fermented milk to Vietnam, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

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

Import Prices by Country

In 2022, the average yoghurt and fermented milk import price amounted to $X per ton, rising by X% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and New Zealand ($X per ton), while the price for China ($X per ton) and Australia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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