Vietstock 2024 is expected to be more outstanding than previous editions

On the morning of August 7, in Hanoi, the Organizing Committee of the Vietstock 2024 held a press conference.

Vietstock is Vietnam's Premier International Feed, Livestock, Aquaculture, and Meat Industry Show, part of the livestock exhibition series in Asia.

With a 20-year history of success, Vietstock 2024 is set to surpass previous editions with an extensive 15,000m2 exhibition area. This event will be extraordinary, with over 400 exhibitors and 13,000 attendees from 50 countries and regions.

Vietstock 2024 will co-occur with Aquaculture Vietnam 2024 from October 9 to 11 at the Saigon Exhibition and Convention Center, Ho Chi Minh City.

Vietstock represents innovation and industry expertise, bringing together experts and businesses worldwide to explore the latest advancements, exchange knowledge, and foster collaborations that drive the livestock and aquaculture sectors forward.

Vietstock constantly renews itself with a variety of programs and activities. Not only a B2B exhibition, but Vietstock is also a companion and business bridge of the livestock industry in Vietnam and the region. Highlight activities include the Vietstock Awards, conferences & technical seminars, Match & Meet  Lounge, Eggcellent Theater, Sustainability Square, Technologies, Products & Solutions showcase, etc.

Mr. Duong Tat Thang, Director of the Department of Livestock (MARD), said that in the past three years, Vietnam has always maintained the 5th largest pig herd in the world in terms of head, 6th in terms of output, the top poultry herd in the world, of which waterfowl ranked 2nd in the world; raw milk output ranked 4th in the ASEAN region; industrial animal feed output ranked 1st in Southeast Asia, 12th in the world.

Livestock farming ensures nutritional security for more than 100 million people. It provides food for millions of international tourists and creates livelihoods for more than 10 million rural workers. More and more livestock products are being exported, such as honey, suckling pigs, bird's nests, salted duck eggs, milk, processed chicken meat, etc., of which Vietnam is the largest honey exporter to the US market.

Vietnam is considered one of the fastest-growing and high-potential Asian countries in terms of livestock numbers and feed production.

Vietnam's average chicken consumption per capita is forecasted to expand to 16.6 kg by 2021, as predicted by Frost and Sullivan. DBS Bank estimates that 264 new breeding and 694 new commercial farms will need to be added to meet this projection.

The Vietnamese government is pushing to reform and modernize its meat processing industry to meet this growing demand and consumers' expectations for clean and safe. The number of livestock killed by industrial methods is expected to increase from 12.4% in 2010 to 35% by 2020. Vietnam's dairy market is predicted to double in size by 2020, reaching USD 8.2 billion, as the population is expected to increase by five million, and dairy consumption is expected to rise by a CAGR of 7%.

According to the 2017 Alltech Global Feed Survey, Vietnam was the world's fastest-growing feed market at +21% in 2016 to 18.7 million tons.

However, the livestock industry in Vietnam, as well as the world today, is still facing many difficulties and challenges. Issues such as epidemics, climate change, market fluctuations, dependence on feed ingredients, antibiotic resistance, etc., especially the issue of environmental management, have been and are posing urgent requirements for the industry to solve.

"Therefore, for the livestock industry to develop sustainably, it is necessary to rely on four aspects: Economic efficiency, social equity, environmental protection, and ensuring animal welfare," Mr. Thang emphasized.

Mr. Thang said: "Vietstock 2024, with the theme of transforming livestock farming for higher productivity, better nutrition, a cleaner green environment, and a better life," will be an opportunity for us to learn, share, discuss, and propose solutions to develop the industry according to these shifting trends, contributing to the sustainable development of the livestock industry.

Being a strategic industry with a crucial potential for advancing Vietnam's agriculture sector, the livestock industry has witnessed stable growth in recent years, accounting for more than one quarter (27%) of the sector's GDP in the first half of 2023. In 2022, the livestock business in Vietnam has registered significant growth, reaching revenue of 21 billion dollars, equivalent to a rise of 5% to 6% compared to 2021.

Vietnam's recent outstanding economic and social development has brought many new opportunities for the livestock industry. For instance, Vietnam has the world's 7th fastest-growing middle class, reaching 50 million people by 2030. Young population, rapid urbanization, and increasing income in both urban and rural areas drive positive change in the domestic livestock industry and food production.

Additionally, Vietnam's Free Trade Agreements are boosting the integration of livestock products into the most significant consumer markets in the world. With the increasing government support and technological advancement, Vietnam's livestock market is expected to grow 4% to 5% per year by 2025 and 3% to 4% from 2026 to 2030.

Mrs. Rungphech Chitanuwat, Regional Portfolio Director - ASEAN, Informa Markets, said that Vietstock 2024, the most anticipated in the livestock and aquaculture industry, is expected to surpass previous editions with an exhibition area of ​​15,000m2 and more than 400 exhibitors and 13,000 visitors from 50 countries and regions.

"The special feature of Vietstock 2024, the 20th-anniversary edition of the journey accompanying the livestock industry, is to connect experts and models from around the world to Vietnam so that businesses, organizations, and individuals in Vietnam can apply them," Mrs. Chitanuwat added.