Vietnam Animal feed Market Analysis, Share, Trends, Demand, Size, Opportunity & Forecast
Vietnam animal feed market is poised to witness substantial growth during the forecast period owing to the increasing per capita disposable income of the country which has enhanced people’s purchasing power. The country is witnessing increasing consumption of poultry and cattle meat which is serving as a key factor behind the market growth. The development in the tourism and hospitality industry is expected to further propel the growth of Vietnam animal feed market by 2028. The Important Factors in Vietnam Animal feed Market Vietnam animal feed market is heavily dependent on imports and the biggest import market is Argentina followed by the United States and Brazil. The country increased the import of animal feeds by 70% in 2022 as diseases and food safety issues led to the shrinking of the animal husbandry industry. The animal feed market is anticipated to undergo a high rate of growth in the next five years owing to the increasing consumption of pork and other red m...