Dairy

There is a stable increase in revenue of Vietnam’s dairy industry.

The figure for revenue in 2024 is 4.22 Billion USD, which is nearly double compared to its 2018 figure.

Experiencing the same pattern of revenue, the dairy volume also increased from 1.53 billion KG in 2018 to 2.08 billion KG in 2024.

Source: Statista Market Insights

It is evident that consumption of fresh milk was rising during the period from 2016 to 2023.

Comparing fresh milk output in 2019 (1305.6 million liters) to 2020, the figure saw a noticeable rise to 1702 million liters.

Beverage

In general, the output in the beverage market keeps rising over the period of 7 years.

The increasing percentage in 2017, 2018, and 2019 remained relatively unchanged.

The beverage manufacturing intensity in 2022 achieved its highest total at 132.30%.

The beverage industry in Vietnam is growing at a rapid pace; its revenue attained the peak at 7556 million USD in 2023.

Non-alcoholic drinks accounted for the highest revenue at 455.7 million USD, which was higher compared to Hot drinks and Non-alcoholic drinks with 180.3 and 119.6 million USD, respectively.

Instant Noodle

Vietnam is among the top countries consuming instant noodles in the world.

The country consumed 8.56 billion servings in 2021, according to the World Instant Noodles Association.

Acecook and Masan are two leading instant noodle manufacturers.

In 2021, Acecook's revenue was nearly 12.5K billion VND (VND 1 billion = 42730 USD), while the figure for Masan was around 8.5K billion USD.

Seafood

From 2018 - 2023: Vietnam's seafood output increased from 7.7 million tons in 2018 to 9.3 million tons in 2023, an increase of 20%. Of which, aquaculture output accounts for 58%, and Fishery accounts for 42%.

From 2018-2023: Vietnam's aquaculture output increased from 4.1 million tons to 5.4 million tons, an increase of 31%. Aquaculture for export is concentrated mainly in the Mekong Delta (accounting for 95% of total Pangasius production and 80% of shrimp production).

From 2018 to 2023: Vietnam's fishery output increased from 3.59 million tons to 3.86 million tons, an increase of 8%.

Exports increased from 8.80 billion USD in 2018 to 8.96 billion USD in 2023.

Processed Meat

Revenue in the Processed Meat market amounts to US$1.23bn in 2024. The market is expected to grow annually by 6.56% (CAGR 2024-2029).

In relation to total population figures, per person revenues of US$12.36 are generated in 2024.

In the Processed Meat market, volume is expected to amount to 168.30 million kg by 2029. The Processed Meat market is expected to show a volume growth of 2.6% in 2025.