Market Overview
The Vietnamese feed concentrate and base mix market was valued at USD 3.73 billion in 2018, and it is projected to reach USD 4.95 billion by 2024, with a CAGR of 4.85%, during the forecast period, 2019-2024.
Scope of the Report
The report contains an analysis of various parameters of the Vietnamese feed concentrate and base mix market. The study includes various kinds of growth promoters that are given to farm animals. The market has been segmented on the basis of the type of animal. The study involves the analysis of the growth promoters and the market demand for them. The report presents wide-range analysis of market shares, size, and trends in the Vietnamese feed concentrate and base mix market. The market operates in the B2C mode, and market sizing has been done at the consumer level.
Key Market Trends
Demand - Supply Gap in Protein Sources for Animal Feed is Restraining the Market
Amino acid, a form of protein, is an important ingredient of base mix and is also an important component added to feed concentrates. Presently, Vietnam imports a large amount of input materials, like protein for feed processing. In the future, the demand for animal feed and feedstuffs may continue to increase, due to the growth of livestock production, particularly by large-scale commercial farms. The domestic demand for protein in the manufacturing of base mix may increase the import of amino acids in the country, which is expected to increase the price of base mix and feed concentrates in the country. The major sources of protein for base mix are soymeal, fishmeal, and synthetic amino acid. Vietnam is not self-sufficient to meet the domestic demand for protein. As a result, the country is primarily dependent on the import of these products, which in turn, increases the price of the final product, base mix, and feed concentrates.
The Poultry and Swine Segments Dominate the Vietnam Feed Concentrate and Base Mix Market
The consumption of animal feed in Vietnam is directly proportional to the development of the livestock sector. Home-made feed is popular in the country, owing to the slightly decreasing prices of feed ingredients, while the price of commercially-made feed remains constant. While preparing home-made feed, Vietnamese farmers depend upon their experience and make use of premixes, base mixes, and concentrates, in order to achieve a good feed conversion ratio. However, the switch from backyard farming to intensive/industrial farming, consisting of suitable machinery and equipment, is driving the demand for commercially-prepared feed in the country. The demand for poultry and swine feed accounts for 97% of the total feed consumption in Vietnam. Only 3% of the feed is used for livestock other than poultry and swine. The Vietnamese cattle segment is small. The country’s poultry segment consists of chicken, duck, and goose.
Competitive Landscape
In the Vietnamese feed concentrate and base mix market, companies are investing heavily to develop new products, and collaborating and acquiring other companies. This factor is expected to increase their market shares and strengthen the R&D activities. Companies, like Cargill Inc., Nutreco, and Mixscience, are the major players in the Vietnamese feed concentrate and base mix market. The animal feed industry of Vietnam, despite being among world’s fastest-growing ones, in terms of scale and output, is dominated by foreign firms, while local producers are struggling to compete. As a result, no firm is able to dominate the local animal feed market. CP Vietnam is Vietnam’s biggest animal feed producer. It has roughly a share of 15%-20% of the market. However, when it comes to feed concentrate and base mix, its share is even less.
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The Vietnamese feed concentrate and base mix market was valued at USD 3.73 billion in 2018, and it is projected to reach USD 4.95 billion by 2024, with a CAGR of 4.85%, during the forecast period, 2019-2024.
- Increasing consumption of animals and animal by-products, government strategies to improve the agricultural condition of the country, and improvement in the meat export sector are driving the market studied.
- The fluctuation in grain prices in the country, government regulations, and the demand-supply gap in protein sources for animal feed are restraining the market studied.
Scope of the Report
The report contains an analysis of various parameters of the Vietnamese feed concentrate and base mix market. The study includes various kinds of growth promoters that are given to farm animals. The market has been segmented on the basis of the type of animal. The study involves the analysis of the growth promoters and the market demand for them. The report presents wide-range analysis of market shares, size, and trends in the Vietnamese feed concentrate and base mix market. The market operates in the B2C mode, and market sizing has been done at the consumer level.
Key Market Trends
Demand - Supply Gap in Protein Sources for Animal Feed is Restraining the Market
Amino acid, a form of protein, is an important ingredient of base mix and is also an important component added to feed concentrates. Presently, Vietnam imports a large amount of input materials, like protein for feed processing. In the future, the demand for animal feed and feedstuffs may continue to increase, due to the growth of livestock production, particularly by large-scale commercial farms. The domestic demand for protein in the manufacturing of base mix may increase the import of amino acids in the country, which is expected to increase the price of base mix and feed concentrates in the country. The major sources of protein for base mix are soymeal, fishmeal, and synthetic amino acid. Vietnam is not self-sufficient to meet the domestic demand for protein. As a result, the country is primarily dependent on the import of these products, which in turn, increases the price of the final product, base mix, and feed concentrates.
The Poultry and Swine Segments Dominate the Vietnam Feed Concentrate and Base Mix Market
The consumption of animal feed in Vietnam is directly proportional to the development of the livestock sector. Home-made feed is popular in the country, owing to the slightly decreasing prices of feed ingredients, while the price of commercially-made feed remains constant. While preparing home-made feed, Vietnamese farmers depend upon their experience and make use of premixes, base mixes, and concentrates, in order to achieve a good feed conversion ratio. However, the switch from backyard farming to intensive/industrial farming, consisting of suitable machinery and equipment, is driving the demand for commercially-prepared feed in the country. The demand for poultry and swine feed accounts for 97% of the total feed consumption in Vietnam. Only 3% of the feed is used for livestock other than poultry and swine. The Vietnamese cattle segment is small. The country’s poultry segment consists of chicken, duck, and goose.
Competitive Landscape
In the Vietnamese feed concentrate and base mix market, companies are investing heavily to develop new products, and collaborating and acquiring other companies. This factor is expected to increase their market shares and strengthen the R&D activities. Companies, like Cargill Inc., Nutreco, and Mixscience, are the major players in the Vietnamese feed concentrate and base mix market. The animal feed industry of Vietnam, despite being among world’s fastest-growing ones, in terms of scale and output, is dominated by foreign firms, while local producers are struggling to compete. As a result, no firm is able to dominate the local animal feed market. CP Vietnam is Vietnam’s biggest animal feed producer. It has roughly a share of 15%-20% of the market. However, when it comes to feed concentrate and base mix, its share is even less.
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- EuromiX
- Cargill Inc.
- Nutreco
- Mixscience
- The Honest Kitchen
- Dachan Food
Methodology
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