According to CRI’s analysis, there are more than 200 dairy producers in Vietnam by the end of 2021. The dairy market in Vietnam is mainly dominated by major players such as Vinamilk, Nestle Vietnam, Nutifood, Frieslandcampina and TH Group. The number of cows in Vietnam will increase from 330,000 in 2019 to 700,000 in 2030.

Vietnam’s fresh milk production reached 1.2 billion liters in 2021 and will rise to 2 billion liters by 2030. Despite the rise in production, domestic fresh milk production can only meet 40-50% of domestic demand, with the rest relying mainly on imports.

In addition to relying on imported fresh milk, Vietnam also imports cows, animal nutrition products and production materials of animal feed. To remain competitive, local companies are looking for quality management and food safety solutions, while larger companies are investing in Industrial 4.0 technologies and R&D.

Milk consumption per capita in Vietnam was only 28 liters in 2021, lower than Thailand (35 liters) and Singapore (45 liters), with huge potential for growth. CRI expects milk consumption per capita in Vietnam to reach 40 liters by 2030. Consumption is gradually increasing, driven by a large, young and fast-growing population (around 100 million people) and the rising purchasing power of the country’s middle class.

Dairy companies are also seeing increasing opportunities to serve Vietnam’s elderly population (65+), which is expected to reach 14% in 2040, up from 7% in 2020.

In addition, Vietnam’s dairy exports are growing rapidly. Vietnam’s dairy exports value exceeds USD300 million. Vietnam’s dairy products are exported to more than 40 countries. According to CRI’s analysis, China has granted transaction codes to eight Vietnam’s dairy companies (20 factories), allowing them to export their products to China.

In terms of product segmentation, milk powder and liquid milk total nearly three-quarters of Vietnam’s dairy market size. Most of the milk powder imported into Vietnam is processed into remade milk. Among liquid milk, the preferred form is UHT milk because of its longer shelf life, especially in rural areas where cold chain facilities are not well developed.

According to CRI’s analysis, the fastest growing segment of Vietnam’s dairy market in terms of sales volume in 2021 is milk powder, with production volume reaching about 152,000 tons, up about 13% year-on-year, followed by yogurt, liquid milk, etc.

According to CRI’s analysis, the demand for cheese and butter is rising rapidly due to the growing influence of Western food in Vietnam, especially among the younger generation in urban areas.

CRI expects the demand for dairy products to rise in Vietnam’s market from 2022-2031, with more market opportunities for investors. Organic dairy products, natural fresh milk products, and dairy-containing health food products in Vietnam are expected to maintain a fast growth rate in the coming years.

Topics covered:

• Overview of Vietnam’s Dairy Industry
• Economic and Policy Environment of Vietnam’s Dairy Industry
• What is the impact of COVID-19 on Vietnam’s dairy industry?
• Vietnam’s Dairy Market Size, 2016-2021
• Forecast on Vietnam’s Dairy Market, 2022-2031
• Import and Export Analysis of Dairy Products in Vietnam
• Analysis of Major Dairy Companies in Vietnam
• Key drivers and Market Opportunities in Vietnam’s Dairy Industry
• What are the key drivers, challenges and opportunities for Vietnam’s dairy industry during 2022-2031?
• What is the expected revenue of Vietnam’s dairy industry during 2022-2031?
• Which segment of Vietnam’s dairy industry market is expected to dominate the market in 2031?
• What are the major adverse factors facing Vietnam’s dairy industry?

The post Research Report on Vietnam’s Dairy Industry 2022-2031 first appeared on CRI Report.

As economy develops and lifestyle changes, the demand for dairy products continually increases in China. In 2015, the output volume of dairy products was 27.825 million tons with an increase of 4.9% YOY, reversing the downturn momentum of output volume in 2014. In 2015, the output volume of dairy products in Hebei Province reached 3.46 million tons, accounting for 12.4% of the domestic one. Hebei Province possessed the highest output volume of dairy products in China. In 2015, the top 10 provinces of output volume were respectively Hebei, Inner Mongolia, Shandong, Henan, Heilongjiang, Shaanxi, Jiangsu, Sichuan, Hubei and Anhui. The output volume of top 3 provinces accounts for 32% of the national one. Up to the end of 2015, there were about 640 dairy product manufacturers in China with the sales revenue over CNY 330 billion.

In recent years, frequent and unsolved dairy product safety incidents in China made many consumers choose imported dairy products. In particular, parents of infants tend to purchase imported milk powder. From January to July in 2016, China imported 1,383,000 tons of dairy products with an increase of 29.1% YOY. The import value was USD 3.96 billion, increasing by 13.5% YOY.

In 2015, China imported 176,000 tons of infant formula milk powder, growing by 55,000 tons with an increase of 45% YOY compared to 121,000 tons in 2014. The import value of infant formula milk powder was USD 2.47 billion with an increase of 59.5% YOY. Holland, Ireland, France and New Zealand mainly export their infant formula milk powder to China.

In retail markets, many Chinese purchase imported milk powder. The domestic raw milk serving as the raw material of China dairy industry is twice the price of the imported one. The costs of various dairy products in use of domestic raw milk are obviously higher than those of imported products. Therefore, some Chinese dairy product manufacturers lower their production costs and enhance competitiveness through overseas acquisitions.

From 2013 on, there are 4 pieces of investment over CNY 1 billion in foreign countries by Chinese dairy product manufacturers. For example, in 2013, Yili invested CNY 3.2 billion to build a production base in New Zealand. Yashili spent CNY 1.1 billion in the construction of dairy product base. In 2014, Bright Dairy & Food Co., Ltd. purchased 56% stock right of Tnuva, the largest dairy enterprise in Israel with CNY 15.3 billion. In 2015, BIOSTIME spent CNY 6.3 billion to purchase 83% stock right of Swisse in Australia.

According to CRI, China’s per capita consumption of dairy products in 2015 was only about one third of the world average level, and there was still room for growth. As Chinese economy develops and residential income increases, demand for dairy products as well as imported dairy products in Chinese market will keep increasing. There will be many opportunities in Chinese market for global dairy manufacturers.

Through this report, readers can acquire the following information:

-Development Environment of China Dairy Industry

-Food Safety Incidents of China Dairy Industry in Recent Years

-Supply and Demand of China Dairy Products

-Market Competition of Dairy Industry

-Import and Export of Dairy Products in China

-Major Dairy Product Manufacturers in China and Their Operation Status

-Overseas Mergers and Acquisitions of China Dairy Manufacturers

-Major Driving Forces and Market Opportunities in China Dairy Industry

-Threats and Challenges Faced by China Dairy Industry

Prediction on Market Size of China Dairy Industry, 2017-2021

Table of Contents

1 Basic Concepts of China Dairy Industry

1.1 Definition and Classification of Dairy products

1.1.1 Definition

1.1.2 Classification

1.2 Analysis on Dairy Industry Chain

1.2.1 Raw Materials of Dairy Products

1.2.2 Downstream Clients of Dairy Products

1.3 Research Methods of the Report

1.3.1 Parameters and Assumptions

1.3.2 Data Sources

1.4 About CRI

2 Analysis on Development Environment of China Dairy Industry, 2011-2016

2.1 Economic Environment Faced by Dairy Industry

2.1.1 Chinese Economy

2.1.2 Global Economy

2.2 Policy Environment Faced by Dairy Industry

2.2.1 Policies of China Dairy Industry

2.2.2 Food Safety Policies

2.2.3 Development Trend of Policies

2.3 Social Environment of Dairy Industry in China

2.3.1 Summary of Social Environment and Consumer Concept in China

2.3.2 Safety Incidents in China Dairy industry

2.4 Overseas Mergers and Acquisitions of China Dairy Manufacturers

3 Operation Status of China Dairy Industry, 2011-2016

3.1 Supply of Dairy Products

3.1.1 Production Status of Dairy Products in China

3.1.2 Supply Structure of Dairy Products in China

3.2 Demand for Dairy Products

3.2.1 Market Size of China Dairy Industry

3.2.2 Demand Structure of Dairy Products in China

3.3 Price Trend of Raw Materials and Products in China Dairy Industry, 2013-2016

3.3.1 Price Trend of Raw Milk in China, 2013-2016

3.3.2 Price Trend of Dairy Products in China, 2013-2016

4 Analysis on Competition in China Dairy Industry, 2011-2016

4.1 Barriers to Entry in Dairy Industry

4.1.1 Policy Barriers

4.1.2. Capital Barriers

4.1.3 Brand Barriers

4.1.4 Sales Channel Barriers

4.2 Competition Structure of China Dairy Industry

4.2.1 Bargaining Ability of Raw Milk Suppliers

4.2.2 Competition of the Bargaining Ability of Dairy Product Consumers

4.2.3 Competition in China Dairy Industry

4.2.4 Threats from New Entrants of Dairy Industry

4.2.5 Substitutes of Dairy Products

5 Analysis on Sub-industries of China Dairy Industry, 2011-2016

5.1 Introduction of Sub-industries in China Dairy Industry

5.2 China Liquid Milk Industry

5.2.1 Analysis on Supply of Liquid Milk in China

5.2.2 Analysis on Demand for Liquid Milk in China

5.2.3 Analysis on Price of Liquid Milk

5.2.4 Market Competition of Liquid Milk

5.3 Adult Milk Powder and Infant Milk Powder

5.3.1 Supply of Adult Milk Powder and Infant Milk Powder

5.3.2 Demand for Adult Milk Powder and Infant Milk Powder

5.3.3 Competition between Domestic Milk Powder and Imported Milk Powder

5.4 Analysis on Other Dairy Products in China

5.4.1 Market Overview of Other Dairy Products

5.4.2 Analysis on the Price of Other Dairy Products

6 Analysis on Import and Export of Dairy Products in China, 2011-2016

6.1 Analysis on Import of Dairy Products in China, 2011-2016

6.1.1 Import Overview of Dairy Products in China

6.1.2 Structure of Imported Dairy Products in China

6.1.3 Major Import Origins of Dairy Products in China

6.1.4 Import Trend of Dairy Products in China, 2011-2016

6.2 Analysis on Export of Dairy Products in China

6.2.1 Export Overview of Dairy Products in China

6.2.2 Major Export Destinations of Chinese Dairy Products

6.3 Analysis on the Behavior of Chinese Consumers Purchasing Overseas Dairy Products

6.3.1 Analysis on the Value of Chinese Consumers Purchasing Overseas Dairy Products

6.3.2 Analysis on the Trend of Chinese Consumers Purchasing Overseas Dairy Products

7 Introduction of Key Enterprises in China Dairy Industry, 2013- 2016

7.1 China Mengniu Dairy Company Limited

7.1.1 Enterprise Profile of Monmilk

7.1.2 Operation Status of Monmilk

7.2 Inner Mongolia Yili Industrial Group Company Limited

7.3 Bright Dairy & Food Co., Ltd.

7.4 Wandashan Dairy Co., Ltd.

7.5 China Huishan Dairy Holdings Company Limited

7.6 Shuangcheng Nestle Co., Ltd.

7.7 Yashili International Holdings Ltd.

7.8 Beijing Sanyuan Foods Co., Ltd.

7.9 Analysis on Major Infant Milk Powder Manufacturers in China

8 Prospect of China Dairy Industry, 2017-2021

8.1 Analysis on Factors Influencing the Development of China Dairy Industry, 2017-2021

8.1.1 Major Driving Forces and Market Opportunities in China Dairy Industry

8.1.2 Risks and Challenges Faced by China Dairy Industry

8.2 Prediction on Supply of China Dairy Industry, 2017-2021

8.2.1 Prediction on Output Volume of China Dairy Industry

8.2.2 Prediction on Output Volume of Major China Dairy Sub-industries

8.3 Prediction on Demand of China Dairy Industry, 2017-2021

8.3.1 Prediction on Market Size of China Dairy Industry, 2017-2021

8.3.2 Prediction on Market Size of China Dairy Sub-industries, 2017-2021

8.4 Advice on Investment and Development of China Dairy Industry, 2017-2021

Selected Charts

Chart Disposable Income Per Capita in China, 2011-2016

Chart Proportion of Output Value of China Dairy Industry in GDP, 2011-2016

Chart Quantity of Dairy Enterprises in China, 2011-2016

Chart Summary of Policies Concerning China Dairy Industry in Recent Years

Chart Part of Safety Incidents in China Dairy Industry, 2011-2016

Chart Output Volume of Dairy Products in China, 2011-2016

Chart Output Volume of Liquid Milk in China, 2011-2016

Chart Output Volume of Milk Powder in China, 2011-2016

Chart Sales Revenue of China Dairy Industry, 2011-2016

Chart Market Size of Infant Milk Powder in China, 2011-2016

Chart Constitution of Imported Dairy Products in China, 2016

Chart Major Import Origins and Import Volume of Dairy Products in China, 2016

Chart Import Volume and Value of Dairy Products in China, 2011-2016

Chart Operation Status of Monmilk, 2011-2016

Chart Output Volume of Monmilk Dairy Products, 2011-2016

Chart Forecast on Output Volume of Dairy Products in China, 2017-2021

Chart Forecast on Market Size of China Dairy Products, 2017-2021

The post Research Report on China Dairy Industry, 2017-2021 first appeared on CRI Report.