Liquid milk production in 2019 reached over 1 million liters, up 8.32 percent compared to 2018 (Photo: tinnhanhchungkhoan.vn)Hanoi (VNS/VNA) – The Vietnam Industry Research and Consultancy (VIRAC)forecasts that the dairy industry prospect in 2020 will continue to grow at ahigh level, increase investment capital in dairy farms to reduce dependence onimported milk and to meet the needs of people’s domestic consumption.
The goal for 2020 is to produce 2.6 billion liters of liquid milk, with anaverage consumption of 27 liters/person/year. Domestic fresh milk will reach 1billion liters to meet 38 percent of demand, export turnover will reach 120-130million USD.
The VIRAC’s latest report said local dairy firms plan to produce at least2.6 billion litres of milk to meet domestic consumption, with averageconsumption of 27 litres per person per year.
According to statistics from the General Statistics Office, liquid milk andyogurt reported the best growth last year. Liquid milk production in 2019reached over one million litres, up 8.32 percent compared to 2018. The countryproduced about 390,000 tonnes of yogurt, an increase of 17.65 percent.
Regarding sales revenue, liquid milk also increased by 8.32 percent and yogurtgrew by 17.8 percent.
Import turnover of milk and dairy products to Vietnam reached over 1 millionUSD, up 8.8 percent over the same period in 2018, mainly from markets of NewZealand, Southeast Asia, EU and the US.
In the same year, the export of the products also reached over 10 trillion VND(442.5 million USD), up 13.46 percent compared to 2018.
Although the prevalence of health problems among the elderly in Vietnam ishigh, the use of nutritional supplements such as milk for the ageinggroup still limited. Dairy firms saw increasing chances in serving thosecustomers.
In 2019, the powdered milk market for adults in Vietnam grew by 11 percent.This shows the potential for good growth of nutritious milk products for theelderly in the country in 2020.
VIRAC mentioned the promising revenue and profit from the market ofnearly 100 million Vietnamese people and the future market of 600 million ASEANpeople.
While the company considers the dairy industry an attractive market, itsaid: “It is also not a piece of cake,” due to fierce competition betweenbig local firms such as Vinamilk, TH True Milk and the foreign enterprises ofNestle and Abbott.
Recently, two multidisciplinary business giants of Vingroup and Masan haveshown their eagerness to find opportunities to enter the localdairy market.
With the promise of huge revenue and profit from the market of nearly 100million Vietnamese people, as a stepping stone to develop in the market of 600million ASEAN people, and seeing an opportunity to step into the Chinesebillion market, the Vingroup and Masan's joining the industry is just astory sooner or later, VIRAC said in its report./.
The goal for 2020 is to produce 2.6 billion liters of liquid milk, with anaverage consumption of 27 liters/person/year. Domestic fresh milk will reach 1billion liters to meet 38 percent of demand, export turnover will reach 120-130million USD.
The VIRAC’s latest report said local dairy firms plan to produce at least2.6 billion litres of milk to meet domestic consumption, with averageconsumption of 27 litres per person per year.
According to statistics from the General Statistics Office, liquid milk andyogurt reported the best growth last year. Liquid milk production in 2019reached over one million litres, up 8.32 percent compared to 2018. The countryproduced about 390,000 tonnes of yogurt, an increase of 17.65 percent.
Regarding sales revenue, liquid milk also increased by 8.32 percent and yogurtgrew by 17.8 percent.
Import turnover of milk and dairy products to Vietnam reached over 1 millionUSD, up 8.8 percent over the same period in 2018, mainly from markets of NewZealand, Southeast Asia, EU and the US.
In the same year, the export of the products also reached over 10 trillion VND(442.5 million USD), up 13.46 percent compared to 2018.
Although the prevalence of health problems among the elderly in Vietnam ishigh, the use of nutritional supplements such as milk for the ageinggroup still limited. Dairy firms saw increasing chances in serving thosecustomers.
In 2019, the powdered milk market for adults in Vietnam grew by 11 percent.This shows the potential for good growth of nutritious milk products for theelderly in the country in 2020.
VIRAC mentioned the promising revenue and profit from the market ofnearly 100 million Vietnamese people and the future market of 600 million ASEANpeople.
While the company considers the dairy industry an attractive market, itsaid: “It is also not a piece of cake,” due to fierce competition betweenbig local firms such as Vinamilk, TH True Milk and the foreign enterprises ofNestle and Abbott.
Recently, two multidisciplinary business giants of Vingroup and Masan haveshown their eagerness to find opportunities to enter the localdairy market.
With the promise of huge revenue and profit from the market of nearly 100million Vietnamese people, as a stepping stone to develop in the market of 600million ASEAN people, and seeing an opportunity to step into the Chinesebillion market, the Vingroup and Masan's joining the industry is just astory sooner or later, VIRAC said in its report./.
VNA
