Eggs - Vietnam | Statista Market Forecast

The Eggs Market in Vietnam has been growing at a minimal rate due to factors such as limited consumer awareness and preference for traditional markets. However, with the increasing trend towards healthy eating and convenience, the market is expected to experience significant growth in the coming years.

Customer preferences: In Vietnam, there has been a growing trend towards health-consciousness, leading to an increased demand for organic and natural eggs. This shift is driven by a desire for healthier and more sustainable food options, as well as a preference for locally-sourced products. Additionally, with the rise of social media and e-commerce, there has been a surge in online egg purchases, as consumers seek convenient and contactless shopping experiences. This trend is expected to continue as more consumers prioritize their health and seek out convenient and sustainable food options.

Trends in the market: In Vietnam, the Eggs Market within the Dairy Products & Eggs Market is experiencing a rise in demand for organic and free-range eggs, as consumers become more health conscious and seek out sustainable and ethical food options. This trend is expected to continue, with consumers also showing a preference for locally sourced eggs. This has led to the emergence of small-scale egg producers and an increase in direct-to-consumer sales via online platforms. These developments have the potential to disrupt traditional distribution channels and create opportunities for small-scale producers to enter the market.

Local special circumstances: In Vietnam, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's agricultural landscape and cultural preferences. The majority of eggs produced in Vietnam come from small-scale farms, with traditional farming methods still prevalent. This has led to a market dominated by locally produced eggs, with little presence of imported eggs. Additionally, Vietnamese cuisine heavily incorporates eggs, leading to a high demand for eggs in the domestic market. The government's focus on promoting food safety and quality standards has also had a significant impact on market dynamics, with regulations in place to ensure the safety of eggs for consumers.

Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market in Vietnam is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and relevant financial indicators. Vietnam's strong economic growth and stable political environment have contributed to the steady demand for eggs in the country. Additionally, favorable government policies and investments in agriculture have enabled Vietnam to become a major exporter of eggs, driving the growth of the market. However, challenges such as inflation and currency fluctuations can affect market performance and pricing, making it essential for businesses to closely monitor these macroeconomic factors.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.