Market Research Reports, Inc. has announced the addition of “Feed additives market in Vietnam” research report to their website http://www.MarketResearchReports.com
Lewes, DE -- (SBWIRE) -- 12/05/2014 -- This is a market study in order to understand the market potential for feed additives market in Vietnam as well as to identify the optimal approach in operating/expanding the presence/business in this market.
Objective: for better understanding on these points:
- Market potential
- Raw material imports, Product imports
- Animal production and Feed production with each species
- Important government policy
- Market segmentation
- Market evolution and future development prospect
- Customers behaviors
- Feed additive profit
- Distribution system
- Current vs. unmet needs of feed mills
- Decision making process and selection criteria (from commercial feed mills and individual feed mills perspectives)
- Competitors: competitor marketing strategy, sales strategy, after-sales service (profile of top 3 key competitors)
- Competitor sales force, marketing force, technical force
- Competitor activities
Vietnam is among a few countries in Asia to achieve positive growth over the years. The country economic prospect remain optimistic as its nominal GDP is projected to achieved a CAGR of 7% in the period 2011-2017
Vietnam has the youngest population among Southeast Asian countries; with approximately 60% of the population under the age of 30, and 27% under the age of 14
By 2015, people with annual household income above $3,315 (middle and high class) is projected at 20% of the population while personal disposable income is projected to grow at CAGR of 10.8%
Vietnamese consumers are becoming more sophisticated and independent . With greater purchasing power, compared to older generation, the consumption expenditures on food alone is likely to increase by 30% in 2020, compared to 2012.
Average per capita meat consumption in Vietnam is 40 kg annually, below that of China (60.4 kg), on par with Japan's and Korea's, however. In 2015, the consumption is expected at 46 kg of carcass meat, 116 eggs and 7.5 kg of milk.
Import of livestock rises in response to the increase of local demand and shortages of local supply. Top of meat and livestock product import to Vietnam are poultry 44%, beef 28%, pork 4%, offal & fat 23%.
The number of farms are continued to grow across the country. The two main hot spots in the North and South account for 88% of total farms, and 73.8% of total production output.
The growth of local pork demand as a result of rising income is expected to stimulate local production to increase at about 3% annually during period 2011-2015. Pork accounts for 60% of total meat consumption per capita.
The key challenge of Vietnam's poultry sector is the small-scale, highly fragmented and scattered of poultry farming, with many farmers lacking knowledge or concerns about raising efficiency and effectiveness of their production practice.
The Buffalo & Cattle farming mainly using traditional methods of mixed farming and communal grazing, and owned by smallholders between 5 to 10 heads per owner
The most matured and mainly export driven. In 2011, Aqua sector Vietnam exported 1.2 mil tons, and ranked third in the world in aquaculture production, behind China and India. This sector continues to grow at CAGR of 6.76% during the period of 2011-2017.
In the last 5 years the ratio has moved towards more usage of commercial feed, especially complete feed. Extensive usage of complete feed is due to expansion of industrial farm operators in Vietnam who prefers complete feed for its efficiency and effectiveness in quality of output.
The proportion of commercial feed to total feed remains stable as the majority of feed ingredients are imported, and the domestic manufacturing of feed ingredient is still premature. Feed additive is estimated to have total volume of 90 thousand tons in 2011.
The import value of feed additives in first 8 months of 2011 surpass total import value of feed additive in 2010. Lack of local availability as well as technical know-how on production are the main reason for Vietnam relying on imports of feed supplement and additives.
Analysis from feed mills interviews showed that quality as the most influencing factor, followed by price and brand image. Noticeably, feed mills perceived quality by brand image. Therefore, good brand image will lead to good quality perception and vice versa.
Spanning over 78 pages "Feed additives market in Vietnam" report Covering Executive Summary, Introduction, Market Overview, Customer Insights, Competitive Analysis, Recommendations, Appendices. This report Covered 4 Companies - Biomin, Behn Meyer, DSM, Provimi.
Know more about this report
Find all Animal and Livestock Feed Reports
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
For regular industry updates subscribe to our newsletter at: