Vietnam's dairy market attracts Australian businesses

Source: vtv.vn According to the forecast of Research and Markets, the average milk consumption per capita in Vietnam will reach 40 liters/person/year by 2030. In this potential playground worth billions of dollars, the Vietnamese milk market is still very large and attracts many international brands. After 6 months of market expansion, the distribution system in Vietnam of an Australian enterprise specializing in the production of organic formula milk recorded a 20% growth in sales compared to the same period last year. Representatives assessed this as an impressive growth rate, beyond their expectations. Mr. Jovi Shi - Southeast Asia Market Business Director, Bellamy's Organic Group said: "Our strategic goal in the next 3 years is to achieve annual revenue of about 20 million Australian dollars. 2024 is just the year to lay the foundation for expanding business investment in Vietnam, we are planning a long-term plan to design product lines specifically for Vietnamese consumers". ...