Dairy is an important and essential food but due to the high price compared to Vietnamese average income leading to the limitations in dairy’s expenses. Dairy’s spending accounts for 10% of the total food’s expenditure in Vietnam. Average GDP per capita growing constantly is the important factor boosting the dairy consumption.
In the 1st 6 monhs of 2018, total spending for dairy products in the whole market is only below 5%, especially in the city area, which continues to grow negatively. However, in the third quarter of 2018, the total spending for dairy products in both urban and rural areas showed sign of growth.
In recent years, dairy farming in Vietnam has shown development. However, the efficiency has not really matched the potential. In the first 9 months of 2018, domestic raw milk production was estimated at 713.3 thousand tons, up 8.4% compared to the same period in 2017.
Vietnam’s liquid milk market has an annual double growth rate of 22.4% in the period 2010 – 2017. Up to the first 9 months of this year, liquid milk sales reached VND 3.6.8 thousand billion, up 21.01% compared to the same period in 2017.
Yogurt consumption in the first 9 months of 2018 reached about 12.4 thousand billion dong, increasing by 22.4% over the same period last year. Condensed milk consumption in the first 9 month of 2018 reached 5.2 thousand billion dong, increasing by 3.1% compared to the same period in 2017.
From 2010 to the end of 2017, Vietnam imported about 7.17 billion USD of milk and milk products, on average, each year Vietnam spent 897 million USD to import milk to meet domestic consumption demand.
I. Business environment
1. Macroeconomic situation
2. Legal framework
II. Global market
1. Current status of industry
III. Vietnam’s market
1. History of establishment and development
2. Production process
5. Import Export
IV. Industrial development plan
V. Drivers of the dairy industry
1. Enterprise introduction
2. Financial analysis
|Vietnam Dairy Products Joint Stock Company (Vinamilk)
Nestlé Vietnam Company Limited
NutiFood Nutrition Food Joint Stock Company
3A Nutrition Company Limited
Frieslandcampina Vietnam Company Limited
TH True Milk Joint Stock Company
Moc Chau Dairy Cattle Breeding Joint Stock Company
Mead Johnson Nutrition (Vietnam) Company Limited
KIDO Frozen Food Joint Stock Company (KDF)
International Dairy Products Joint Stock Company (IDP)
Figure 1: GDP and dairy consumption per capita, 2001-2017e
Table 1: World’s top 5 biggest butter importing countries, 2016-2017