Vietnam’s dairy enzymes market, valued at US$12.10 million in 2023, is set to witness steady growth with a compound annual growth rate (CAGR) of 4.58 percent through 2029. The rising consumer demand for dairy products, advancements in enzyme production, and an expanding dairy processing sector are key drivers of this growth, according to a report from Research and Markets.
The report goes on to say that the increasing consumption of dairy in Vietnam is fuelled by economic development, urbanisation, and higher disposable incomes. As living standards improve, more Vietnamese consumers are integrating dairy into their diets, valuing its nutritional benefits. This shift has bolstered demand for dairy enzymes, which are vital for producing high-quality products such as milk, cheese, yogurt, and infant formula.
The thriving dairy sector, combined with technological innovations in enzyme manufacturing, positions Vietnam as a promising market for dairy enzymes. Industry players are expected to leverage these trends to meet the growing demand and maintain steady growth in the coming years.
See also: Dairy in Vietnam: Industry Overview