Mushrooms and truffles market in Vietnam

Earlier Report Observations

The market volume for fresh mushrooms and truffles in Vietnam showed considerable volatility between 2018 and 2023. It rose from 50 225 т in 2018 to 62 037 т in 2019, a period where the efficiency of the cold supply chain, driven by logistics infrastructure, market demand, and state policies, was a key factor supporting market expansion. However, in 2020, the market contracted sharply to 28 412 т, primarily due to a dramatic collapse in imports.

A recovery began in 2021, with the market reaching 29 030 т, and growth continued to 36 753 т in 2022. This rebound aligned with the domestic market's historical trend of approximately 10% annual growth, which reflected sustained high consumer demand for fresh mushrooms. By 2023, the market volume increased further to 37 652 т, a period that saw the implementation of new export procedures mandating quality checks and cold storage, alongside the announcement of Circular 01/2024 introducing specialized inspections for imported fresh mushrooms.

During this period, the market landscape was also shaped by significant investments in high-technology production, such as Minh Phương Company's adoption of vacuum packaging and precise temperature control to enhance quality. Rising consumer demand for fresh mushrooms concurrently faced growing competition from alternative plant-based protein sources.

Production mushrooms and truffles in Vietnam

In kind, 2017-2020, t

Globally, Vietnam ranked as the 22nd largest producer of mushrooms and truffles from 2017 to 2020.

Top producers of mushrooms and truffles, 2017-2020

World map of production of mushrooms and truffles, 2017-2020

Vietnam's production of mushrooms and truffles grew for the third consecutive year. In 2020, the country produced 24 339 tonnes, marking a 1.5% increase from the previous year. Over the 2017-2020 period, production rose by 4.5%, with an average annual growth rate of 1.5%.

Annual dynamics of production in Vietnam in kind, 2017-2020, t

Exports mushrooms and truffles from Vietnam

Exports in kind, t

The market displayed an unstable trend during this period. From 2017 to 2019, exports fluctuated significantly, with a peak-to-trough amplitude of {ampRatio} times. In 2020, Vietnam exported 59 tonnes of mushrooms and truffles.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, the United States (34.6% of exports by volume), Japan (27.5%), and China (14.0%) were the key export partners, together accounting for 76.0% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, K $ US

The market showed volatility over the observed period. Export values varied 3.6 times from the low in 2017 to the high in 2018. In 2020, Vietnam's mushroom and truffle exports reached 436 thousand US dollars, an 80.8% increase from the previous year. The highest value was recorded in 2018 at 811 thousand US dollars, while the largest decline occurred in 2019 at 70.3%, and the largest increase was in 2018 at 258.4%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, the United States (40.8% of exports by value), Japan (20.8%), and Canada (13.1%) were the largest buyers of Vietnamese mushrooms and truffles, together making up 74.6% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports mushrooms and truffles to Vietnam

Imports in kind, t

Market performance showed noticeable fluctuations during this period. The lowest import volume was in 2017, while the highest was in 2019, with a peak-to-trough ratio of 14.5 times. In 2020, Vietnam imported 4 132 tonnes of mushrooms and truffles, down 89.1% year-over-year. The maximum volume was recorded in 2019 at 38 066 tonnes, with the largest increase occurring in 2018 at 917.3%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

From 2017 to 2020, China dominated imports by volume, holding an 89.9% share of total flows, while other markets accounted for the remainder.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, K $ US

Vietnam's imports of mushrooms and truffles by value increased for the third consecutive year. In 2020, imports totaled 27 156 thousand US dollars, up 19.2% from the previous year. Over the 2017-2020 period, imports grew by 80.7%, with an average annual growth rate of 21.8%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, the import pattern by value was characterized by China's strong dominance, with a share of 88.3% of total flows, while other partners held relatively minor shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020