The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Recent developments in Vietnam's economic and business environments add further weight to
our positive view on its agribusiness sector. The industry holds strong growth opportunities in terms of
production, exports and retail sales, particularly with regard to the rice, coffee, livestock and dairy
sectors. Moreover, economic and financial integration in South East Asia will benefit Vietnam's exports of
rice, dairy and coffee. However, Vietnam faces growing competition in its key markets.
The fulfilment of its promising potential will only be achieved if the country steps up its competitiveness and
improves product quality and supply chain efficiency. Vietnam will have to significantly ramp up
investments on crop productivity in order to not be left behind and, if it does, it will be able to produce more
value-added crops and maintain its status as an export spearhead.
? Pork production growth to 2019/20: 19.9% to 3.0mn tonnes. After going through challenging times
amidst high feed costs, disease outbreaks and weaker growth, the livestock sector has been on the
recovery trend since 2014-2015. Growth will remain strong in the medium term, helped by higher local
meat prices and economic growth.
Milk production growth to 2019/20: 61.9% to 876,000 tonnes. Dramatic increases in cattle numbers
and increased public and private sector investment - part of the effort to reduce the country's growing
import dependency - will be the main boost to growth. Commercialisation will also play a key role as
larger, more efficient farms come to play a greater role in milk production.