The Vietnam animal feed additives market was valued at US$725.8 million in 2023 and is forecast to grow at a compound annual growth rate (CAGR) of 3.4 percent between 2024 and 2031, according to a report by Sky Quest. This growth reflects the increasing demand for high-quality animal feed to support Vietnam’s expanding livestock and aquaculture sectors.
The report emphasises the importance of regional and segmental analysis in identifying market opportunities for vendors. By comparing production and consumption patterns, the study provides a comprehensive forecast for the market. Other key factors influencing the market projection include the growth of adjacent industries, revenue performance of major vendors, scenario-based analysis, and segment-specific growth trends.
A rigorous methodology was applied to estimate the market size, using a top-down and bottom-up approach validated through industry interviews. Drivers, trends, restraints, and opportunities were meticulously analysed to predict the market’s trajectory. Year-on-year growth rates and historical growth patterns were also considered to identify future trends.
As Vietnam’s livestock and aquaculture industries continue to grow, the demand for specialised feed additives such as vitamins, amino acids, enzymes, and probiotics is expected to rise. Vendors in the market are well-positioned to capitalise on these opportunities, as the report highlights significant growth potential across various regions and market segments.
See also: Animal Feed Industry in Vietnam