Vietnamese Dairy Industry to Gain Annual Growth Rate
VIETNAM - The Viet Nam Dairy Association forecasts Viet Nam's dairy industry will grow from 9-10 percent next year and local milk consumption per capita will reach 28 litres in 2020.
17 December 2019
1 minute read
Chairman of the Viet Nam Dairy Association Tran Quang Trung said the growth is due to rising incomes and the development of modern sales chains.
Demand for high-value dairy products is also expected to increase sharply due to the young population and growing number of middle-class people in urban areas. These customers often want to experience new products, especially organic products and nut milk products.
However, consumed dairy products are mainly liquid milk, powdered milk, yogurt and condensed milk, while the consumption of other products such as cheese and butter remains modest.
At present, Vietnam's demand for milk per capita is 26 litres per year, lower than the 35 litres in Thailand, 45 litres in Singapore and between 80-100 litres in Europe. Moreover, the dairy industry has only met about 35 percent of domestic demand.
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Source: Biz Hub
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