Vietnam Animal Feed Market Size To Reach $10.55 Billion By 2022 | Key Industry Players Royal De Heus, Japfa Comfeed
San Francisco, 5 December 2018 - Vietnam animal feed market size is expected to reach USD 10.55 billion by 2022, according to a new report by Grand View Research, Inc. Shift in trend towards consumption of poultry and cattle meat is expected to remain a key driving factor for Vietnam animal feed market. Historically, domestic consumers were depended largely on pork meat to meet nutritional requirement. Advent of increasing per capita disposable income level has transformed this shift in trend which has propelled animal feed demand in the nation. Increasing investments particularly in R&D are expected to drive production sustainability over the forecast period. Even though domestic production is expected to rise, the market faces challenges in the form of imports. Most of the animal feed consumed in Vietnam is sourced through imports from neighboring ASEAN nations. Fodder was the leading product segment and accounted for over 85% of the total volume in 2014. ...