NEW YORK, Nov. 10, 2016 /PRNewswire/ -- The Vietnamese feed market is estimated to be USD 7.25 billion in 2016, and is projected to reach USD 9.52million by 2021, at a CAGR of 5.6% from 2016. Factors such as increasing meat consumption, mass production of meat, rising demand for quality meat and awareness among farmers about the importance of balanced feed are drivers that stimulate the feed market in Vietnam. The positive growth rate of the market has been enhanced by the research & development for natural ingredients, customized product offerings, and technological advancements. The government of Vietnam has taken strong initiatives such as promoting foreign companies to set up their plants to provide more localized feed products & services to improve animal health.
High demand for feed ingredients and limited production capacity in North Vietnam present strong opportunities for manufacturers.
OBJECTIVES OF THE STUDY
-To define, segment, and project the size of the feed market, with respect to ingredient and livestock, in Vietnam
-To provide detailed information about the major factors influencing the growth of the Vietnam market (drivers, restraints, opportunities, and industry-specific challenges)
-To strategically analyze the micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
-To analyze opportunities in the Vietnam market for stakeholders and details of the competitive landscape for market leaders
-To project the market size of Vietnam, in terms of value and volume, on the basis of ingredients source
-To project the size of the market, in terms of value and volume, on the basis of livestock
-To track and analyze the competitive developments such as new product launches, acquisitions, investments, expansions, partnerships, agreements and joint ventures in the feed market.
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