Vietnam is in the Top 10 largest pork consuming countries in the world

Published 2024년 6월 25일

Tridge summary

The USDA forecasts a 7.2% increase in global pork consumption by 2030, with Vietnam and the US seeing the largest increases at 28.3% and 11.7% respectively. However, Vietnam's domestic production only covers 95% of its consumption, indicating a significant gap and potential for growth in the livestock sector. The industry is attracting investment but faces challenges such as a lack of standardization and the need for more branded products as consumers are increasingly demanding products with traceability. In 2023, Vietnam spent 1.43 billion USD to import 717,000 tons of meat and meat products, with India being its largest supplier.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Import-Export Department (Ministry of Industry and Trade) cited the latest forecast of the US Department of Agriculture (USDA) as saying that global pork consumption is expected to reach 131 million tons in 2030, an increase of 7.2% compared to the previous year. 2023. In Vietnam and the United States, pork consumption is expected to increase by 28.3% and 11.7%, respectively. Illustration Currently, domestic meat production only meets 95% of consumption. Therefore, the livestock sector has a lot of potential and is attracting strong investment from both foreign and domestic sources. Vietnam's meat industry is poised for significant growth as it meets the needs of a growing population. Despite great potential, Vietnam's meat market is not standardized as more than 90% of pork products on the market are unbranded. Meanwhile, consumers are increasingly ...

Source: Voh