Vietnam Compound Feed Market Outlook 2031:
The Vietnam compound feed market size was valued at USD 10.91 Billion in 2022 and is projected to reach USD 18.12 Billion by 2031, expanding at a CAGR of 5.8% during the forecast period 2023 - 2031. Growth of the market is attributed to the rising demand for meat, dairy, and aquaculture products.
Compound feed is a combination of fresh or preserved items of vegetable or animal origin intended for oral feeding to domestic animals in their natural form. In other words compound feed is a blend of basic materials and supplements provided to animals, derived from plant, animal, organic, or inorganic sources, or industrial processing, and may contain additives.
The most common additions combined to produce compound feed are vitamins, minerals, and amino acids. Healthy animals require an adequate amount of carbs, proteins, vitamins, and minerals. Compound feed's nutritional quality is determined not only by nutrient content, but also by hygiene, digestibility, and effect on intestinal health.
Vietnam has steadily increased its need for compound feed in recent decades. Growing population, increased demand for high-quality meat products, and rising consumer spending levels are driving market. Market development has been aided by the expansion of user industries and livestock production. Feed makers and producers are becoming more aware of ways and tactics to deal with COVID-19 as a result of the outbreak.
Compound Feed Market Trends, Drivers, Restraints, and Opportunities
- Rising livestock production is estimated to propel the market during the forecast period.
- Increase in organized livestock farming is projected to fuel the market in the coming years.
- Growth of the market is driven by increasing demand for meat, rising consumer spending, and growing population.
- High cost of the product is expected to hamper the market growth.
- Stringent government regulations act as major challenge that restricts the market growth.
- Growing adoption of flexible feeds is anticipated to offer immense opportunities for the market players. Lack of transportation facility due to covid-19 outbreak presents as major challenges that can hamper the market growth during the forecast period.
Scope of the Compound Feed Market Report
The report on the Vietnam compound feed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Vietnam Compound Feed Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Ingredient Types (Pulses and Cereals, Oilseeds and Derivatives, Fish Meal and Fish Oil, Supplements, and Others), and Livestock (Swine, Ruminant, Poultry, Aquaculture, and Other Livestock)
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Geography
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Vietnam
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill Incorporated, Alltech, ADM Vietnam Co. Ltd., Charoen Pokphand (CP) Vietnam, and DE HEUS Company Limited
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Compound Feed Market Segment Insights
The cereals & pulses segment is projected to account for a major market share
Based on ingredient types, the Vietnam compound feed market is segregated into cereals & pulses, oilseeds & derivatives, fish meal & fish oil, supplements, and others. The cereals and pulses segment is expected to represent a key share of the market during the forecast period. As a key source of energy, cereals make up a large percentage of the animal feed diet.
Various grains are utilized in feed depending on the region's availability and preferences. With growing pressure on animal performance and growth to optimize the output of animal-based goods, high-energy diets are in great demand. Rice intake may even boom in the country, in which rice is gaining significance as a main meals staple and source of calories.
The poultry segment is expected to grow at a rapid pace
Based on livestock, the market is fragmented into ruminant, swine, poultry, aquaculture, and other livestock. The poultry segment is expected to represent a key share of the market during the forecast period.
Poultry is considered as one of the most cost-effective sources of protein, and as a result, demands for poultry goods such as eggs and meat continue to rise.
The population and income variables have a significant impact on poultry product demand. Packaged chicken feed is predicted to expand at a faster rate than traditional poultry feed. As a key source of energy, cereals make up a large percentage of the animal feed diet. Various grains are utilized in feed depending on the region's availability and preferences.
Segments
The Vietnam compound feed market has been segmented on the basis of
Ingredient Types
- Cereals and Pulses
- Oilseeds and Oil Derivatives
- Fish Meal and Fish Oil
- Supplements
- Others
Livestock
- Ruminant
- Swine
- Poultry
- Aquaculture
- Other Livestock
Key Players
Competitive Landscape
Key players competing in the Vietnam compound feed market include Cargill Incorporated, Alltech, ADM Vietnam Co. Ltd., Charoen Pokphand (CP) Vietnam, and DE HEUS Company Limited.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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