Vietnam’s animal feed additives market size is expected to reach US$816.4mn by 2025, as per a new report by Grand View Research Inc, expanding at a CAGR of 3.7 per cent over the forecast period
Factors such as the easing of FDI norms and evolving trade agreements with partnering nations (ASEAN) in Vietnam are expected to provide investment opportunities to overseas animal feed additive producers
The consumption of animal feed additives in poultry feed is expected to provide significant growth opportunities to the market participants. Unlike other Southeast Asian countries where poultry consumption is dominant, Vietnam meat consumption has traditionally been dependent on pork along with poultry consumption at five kilograms per capita.
However, changing lifestyle and growing processed food industry are expected to drive meat consumption shift towards white meat products such as poultry and fish.
Vietnam animal feed additives market is equally shared by domestic and multinational players. Foreign industry players are expected to dominate the Vietnam animal feed additives market over the forecast period on account of price competition and heavy investments by these players.
Foreign industry players are expected to dominate the Vietnam animal feed additives market over the forecast period on account of price competition and heavy investments by these players. In addition, foreign companies are investing in R&D activities and in contract farming for gaining maximum profit in the long run.
