Sheep and goat meat market in Vietnam

Earlier Report Observations

Between 2018 and 2020, sheep and goat meat production in Vietnam rose from 37 698 t to 42 637 t, pushing market volume from 38 464 t to 43 185 t. After a slight contraction to 42 734 t in 2021, the market resumed growth, reaching 47 753 t by 2023.

In 2024, Decree 106/2024/ND-CP provided investment support of up to 50% for cold storage construction, aiming to reduce preservation costs and expand the value chain. At the same time, a new regulation limited the sale time of meat at ambient temperature to 8 hours, which may affect traditional market vendors and local consumption patterns.

Production sheep and goat meat in Vietnam

In kind, 2017-2020, t

Top producers of sheep and goat meat, 2017-2020

World map of production of sheep and goat meat, 2017-2020

Vietnam's sheep and goat meat production has grown for the third year in a row. In 2020, the country produced 42 637 tons, marking a 1.6% increase from the previous year. From 2017 to 2020, production rose by 29.7%, with an average annual growth rate of 9.1%.

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

In value, 2017-2020, M $ US

The value of sheep and goat meat production in Vietnam fell for the second consecutive year. In 2020, output was valued at 186.1 million US dollars, representing a significant 15.4% year-on-year decline. Between 2017 and 2020, production value dropped by 23.6%, equivalent to an annualized decrease of 8.6%. The peak value occurred in 2018 at 250.8 million US dollars, with the largest increase that year at 3.0%.

Annual dynamics of production in Vietnam in value, 2017-2020, M $ US

Exports sheep and goat meat from Vietnam

Exports in kind, t

Export volumes showed irregular fluctuations, pointing to a volatile market. The highest volume was recorded in 2018, while the lowest was in 2020, creating a 75-fold difference between the two years. In 2020, Vietnam exported just 0.1 tons of sheep and goat meat, a sharp 97.0% drop from 2019. The maximum volume reached 9.3 tons in 2018, with the largest increase that year at 298.6%.

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

From 2017 to 2020, Cambodia dominated Vietnam's sheep and goat meat exports in volume, accounting for 83.9% of the total. The remaining share was distributed among various countries, each with smaller individual portions.

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

Export values exhibited volatility during the observed period. From the peak in 2018 to the low in 2020, exports changed by a factor of 115. In 2020, Vietnam exported 1 000 US dollars worth of sheep and goat meat, a dramatic 97.5% decrease compared to the previous year. The maximum value was 62 000 US dollars in 2018, with the largest increase that year at 257.9%.

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

Between 2017 and 2020, Cambodia was the central partner for Vietnam's sheep and goat meat exports in value terms, holding an 81.8% share of total flows. Other markets contributed to a less significant portion of the trade.

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

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

Imports sheep and goat meat to Vietnam

Imports in kind, t

In 2020, Vietnam imported 548.2 tons of sheep and goat meat, a 42.2% reduction year-on-year. Over the 2017-2020 period, imports declined by 37.1%, with an average annual decrease of 14.3%. The highest volume was 949.0 tons in 2019, which also saw the largest increase at 22.3%.

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

From 2017 to 2020, Australia was the primary source for sheep and goat meat imports to Vietnam, making up 75.4% of total volume. Other countries supplied the remainder, forming a smaller segment of the import market.

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

Following two years of growth, Vietnam's sheep and goat meat import value declined. In 2020, imports totaled 4 025 000 US dollars, down 39.6% year-on-year. Between 2017 and 2020, import value fell by 28.3%, with an average annual drop of 10.5%. The peak was in 2019 at 6 664 000 US dollars, with the largest increase that year at 13.4%.

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

During 2017-2020, Australia remained the main supplier of sheep and goat meat to Vietnam in value terms, capturing 75.7% of total imports. The rest was spread across other countries, each with 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