Vietnam Animal Supplement Market - 2024-2027

Overview

Vietnam Animal Supplement Market reached US$ 31.10 million in 2023 and is expected to reach US$ 41.51 million by 2027, growing with a CAGR of 7.53% during the forecast period 2024-2027.

The Vietnam animal supplement market is experiencing steady growth driven by rising pet ownership, an expanding livestock industry and a growing awareness of animal health and welfare. For instance, in 2023, Vietnam's livestock industry grew by 5.72%, contributing 26% to agricultural gross domestic product (GDP).

Livestock production increased by 4.5-6%/year in the 2018-2022 period, mostly driven by growing demand for eggs, milk and meat. This rapid growth has come at the cost of environmental degradation and competition for feeds, which threaten long-term sustainability. Additionally, Vietnam's rising middle class and urbanization are contributing to the surge in pet ownership, particularly in cities like Ho Chi Minh City and Hanoi.

With the increasing popularity of companion animals such as dogs and cats, demand for pet supplements-aimed at promoting better coat health, joint support and overall vitality-is on the rise. Thus, Vietnam's animal supplement market has significant potential due to favorable trends in pet ownership and livestock farming, overcoming existing barriers such as awareness gaps and product availability will be critical in unlocking its full growth potential.

Drivers

Rising Pet Ownership

The rising trend of pet ownership in Vietnam significantly drives the animal supplement market, reflecting a broader cultural shift towards valuing animal health and wellness. As urbanization accelerates, an increasing number of households are welcoming pets, particularly dogs and cats, into their homes. This change is fueled by a growing middle class with greater disposable income and a desire for companionship.

For instance, according to the Department of Animal Health, 2021, estimated that there are over 05 million households raising dogs and cats with a total national herd of over 7.5 million heads. In recent years, with rising income and living standards, the pet community in Vietnam has rapidly grown. Pets and related services have become a lucrative business sector.

Moreover, the pet food market's growth has spurred the demand for nutritional supplements. Many manufacturers are expanding their product lines to include supplements that complement commercial pet food, creating an array of options that cater to the specific health needs of pets. This trend is reinforced by the rise of specialty pet stores and e-commerce platforms, making supplements more accessible to pet owners. Thus, the animal supplement market in Vietnam is experiencing robust growth, with a diverse range of products available to meet the evolving needs of pet owners.

Expanding Livestock Industry

The expanding livestock industry in Vietnam is a crucial driver of growth in the animal supplement market, propelled by various factors such as increasing meat consumption, modernization of farming practices and government support. As the population grows and urbanization accelerates, the demand for meat and other animal products has surged, prompting farmers to enhance their production capabilities.

For instance, the livestock industry in Vietnam plays a crucial role in the country's agricultural sector, making substantial contributions to economic growth and employment. Livestock accounts for about one-quarter of the agricultural sector's GDP, recording consistent annual growth of 4 to 6 percent.

The Vietnamese government has set a target to achieve 4 to 5 percent industry growth per year until 2025 and 3 to 4 percent growth from 2026 to 2030. In an attempt to reach this goal, Vietnam's livestock industry is beginning to shift away from small-scale household farming to modern, large-scale industrial processing. High-tech applications and closed value chain production have become increasingly popular.

The livestock business in Vietnam produces and consumes a wide variety of products, including pork, poultry eggs, beef and milk. Historically, pork and poultry have been the most popular products in Vietnam due to their affordability and widespread availability. Thus, the expanding livestock industry in Vietnam, characterized by increased demand for meat, diversification of production, modernization of farming practices and supportive government policies, significantly influences the growth of the animal supplement market.

Restraints

Lack of Awareness and Education

Lack of awareness and education among farmers and pet owners significantly restrains the growth of the animal supplement market in Vietnam. Many individuals involved in livestock and pet care may not fully understand the benefits of using supplements, leading to underutilization or outright rejection of these products. For instance, small-scale farmers may rely on traditional feeding practices without recognizing how nutritional supplements can enhance the health and productivity of their animals. This lack of knowledge can prevent farmers from investing in higher-quality supplements that could improve their livestock's overall health and productivity.

Moreover, pet owners may be unaware of the specific nutritional needs of their animals, leading to an incomplete or unbalanced diet. Without education on the importance of supplements in supporting pet health-such as promoting healthy coats, boosting immunity and improving digestion-owners may not see the need to purchase these products. This results in a missed opportunity for market growth, as informed consumers are more likely to invest in products that contribute to the well-being of their animals.

Segment Analysis

The Vietnam animal supplement market is segmented based on animal type, ingredient, form and distribution channel.

High Demand for Supplements in Animal Husbandry for Improved Health and Productivity

Livestock plays a crucial role in Vietnam's animal supplement market, driven by the country's strong agricultural economy and high demand for meat, milk and eggs. The livestock sector's contribution to food security and rural livelihoods has led to a substantial focus on animal health and productivity, creating a robust demand for supplements that enhance growth, immunity and disease resistance in animals. With pork and poultry being staple sources of protein in Vietnam, livestock supplements-such as vitamins, minerals, probiotics and amino acids-are widely used to support optimal growth rates and feed efficiency.

The Department of Livestock in Vietnam has announced targets for growth in the country's livestock sector for 2024, aiming to boost production value by 4-5% compared to 2023. The industry's goal is to produce over 7.89 million tons of live meat, a 3.8% increase over last year's output. Specific targets include a 4% rise in live pork production, reaching 4.87 million tons and a 3.1% increase in poultry meat, totaling 2.31 million tons. Supplements like vitamins, probiotics and amino acids are essential to meet these output demands. The shift towards higher-quality meat and reduced antibiotic use also fuels the demand for natural, health-boosting supplements.

Sustainability Analysis

Key players are integrating sustainable practices into their product lifecycles, from sourcing eco-friendly ingredients to employing green manufacturing processes. Vietnam's government initiatives toward sustainable agriculture and animal husbandry align with this trend, pushing for reduced antibiotic use in animal farming. For instance, UV JOINT STOCK COMPANY, guided by the principles of "Success - Safety - Sustainability," is committed to continuous improvement and innovation. Their focus on quality and sustainability positions UV as a trusted partner in animal healthcare, supporting the industry with effective, safe and environmentally responsible solutions.

Additionally, sustainable packaging solutions, such as biodegradable and recyclable materials, are gaining traction in Vietnam's animal supplement market, reflecting an industry-wide move to reduce plastic waste. Companies are also focusing on minimizing carbon footprints through localized production and energy-efficient operations, reducing dependence on imported raw materials.

Unmet Needs

One of the most pressing unmet needs is limited access to high-quality supplements in rural and underserved areas. Many small-scale farmers in Vietnam rely on traditional feeding methods due to a lack of access to modern supplements. This is often due to insufficient distribution channels, particularly in remote regions where logistical challenges make it difficult for suppliers to reach local farmers.

Another significant unmet need is the lack of awareness and education among both livestock farmers and pet owners. Many are unaware of the specific nutritional requirements of animals and the benefits that supplements can provide in improving health, boosting immunity and enhancing growth. For example, small farmers may not realize that certain supplements can help prevent common diseases or enhance milk production, while pet owners may not know about supplements that support joint health or coat quality.

Additionally, there is an unmet need for tailored supplements that address the specific health concerns of Vietnam's diverse animal populations. The market currently lacks specialized products that cater to region-specific challenges, such as supplements designed for tropical climate conditions, which could help livestock and pets cope with heat stress or parasitic infestations more effectively.

Competitive Landscape

The major global players in the Vietnam market include Sanfovet (VIET ANH JOINT VENTURE INVESTMENT., JSC ), Bio Pharmachimie Joint Venture Company, VIETNAM VETERINARY PRODUCTS JOINT STOCK COMPANY(VINAVETCO), Goovet Group Joint Stock Company, UV JOINT STOCK COMPANY, etc.

By Animal Type

• Livestock Animals
  • Cattle
  • Poultry
  • Swine
  • Horses
  • Others
• Companion Animals
  • Dogs
  • Cats
  • Birds
  • Other Small Mammals

By Ingredient

• Vitamins & Minerals
• Amino Acids
• Omega Fatty Acids
• Probiotics & Prebiotics
• Botanicals
• Others

By Form

• Powder
• Liquid
• Tablets/Capsules
• Injections

By Distribution Channel

• Online Retailers
• Specialty Pet Stores
• Veterinary Clinics
• Convenience Stores
• Supermarkets/Hypermarkets
• Pharmacies and Drug Stores
• Other Distribution Channels

Why Purchase the Report?

• To visualize the Vietnam animal supplement market segmentation based on animal type, ingredient, form and distribution channel, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the Vietnam animal supplement market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Vietnam animal supplement market report would provide approximately 27 tables, 33 figures and 198 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies