According to Industry and Trade Information Centre under the Ministry of Industry and Trade, a market research by Euromonitor showed that in 2020, Vietnam's milk consumption was 1.76 million tonnes of milk and dairy products, an increase of 8.6 per cent compared with that of 2019.
Vietnam's per capita milk consumption stood at 26-27 kg per year – a quite low rate as the world’s average per capita milk consumption was about 100 kg per year and the average consumption in Asian countries was 38 kg per person per year.
However, the local market for milk and dairy products sees improved growth.
According to a market report by Kantar Worldpanel, demand for milk and dairy products in Vietnam is increasing with positive signals thanks to the young population, increased average income, increasing trend for using products that add nutrition and improve the immune system. The country’s consumers also tend to use convenient branding products and those that meet food safety regulations.
In 2020, the revenue of milk and dairy products in Vietnam reached VND64.4 trillion, an increase of 10.3 per cent compared with that of 2019.
The revenue is expected to achieve the growth of 7-8 per cent yearly during the period from 2021 to 2025, reaching about VNĐ3.8 trillion in 2025. Of that, yoghurt revenue is expected to grow fastest with the compound annual growth rate (CAGR) of 12 per cent per year.
Income statements of milk companies in Vietnam last year showed that they were lightly affected by COVID-19 pandemic.
In 2020, Vinamilk had consolidated revenue of nearly VND 60 trillion, an increase of nearly 6 per cent compared with that of 2019 and made its member companies – GTN and MCM – achieve impressive growths just one year after being merged.
With export revenue growth of 7.4 per cent last year, Vinamilk made impressive contributions to Vietnam’s milk sector, particularly during a difficult time for the country’s economy because of COVID-19 pandemic’s impacts.
To ensure the effectiveness in the fight against the COVID-19 epidemic, response measures are being carried out in provinces and cities across the country.
Drawing on experience gained during previous years, each locality in the Mekong Delta has showed a lot of initiatives on protecting their production, as well as dealing with drought and saltwater intrusion.
Due to the absence of floods in 2020, shrimp ponds and lakes were not washed away by flood water, this year's shrimp crop in Binh Dinh province faced many uncertainties due to pollution.
The administration of Binh Thuan province has taken drastic measures to prevent illegal fishing in order to remove the yellow card warning for illegal, unreported and unregulated fishing (IUU).
The central province of Binh Dinh has tightened the management of vessels operating at its fishing ports in the fight against illegal, unreported and unregulated fishing (IUU) based on the European Council's (EC) recommendations.
2030 Water Resources Group Vietnam will focus on renovations, enhancing the water use efficiency, especially in agricultural sector.