Vietnam meat demand to peak by 2023, causing feed production to grow


Meat demand in Vietnam will peak to 33.9kg by 2023 causing a spill over effect in the feed industry. According to a survey by Grand View, Vietnam feed industry will value at USD 10.55 billion by 2022, which is 50% higher than the current USD 7 billion. “It is estimated that the growth of feed demand in Vietnam is 10% per year, which means Vietnam will need 20 million tonnes of feed by 2018,” said Tran Tuan Duong, CEO to Hoa Phat Group.

“The industry has become more attractive to investors . Large scale meat producers has driven the demand for commercial feed production as a replacement for homemade feed in the past," said Nguyen Thi Thu Kim, analyst at Saigon Securities Inc.


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