{"id":9113,"date":"2024-05-07T05:55:44","date_gmt":"2024-05-06T22:55:44","guid":{"rendered":"https:\/\/www.vietstock.org\/?p=9113"},"modified":"2024-05-15T10:24:08","modified_gmt":"2024-05-15T03:24:08","slug":"navigating-vietnams-beef-and-buffalo-meat-market-landscape-in-2024","status":"publish","type":"post","link":"https:\/\/www.vietstock.org\/en\/industry-news\/navigating-vietnams-beef-and-buffalo-meat-market-landscape-in-2024\/","title":{"rendered":"NAVIGATING VIETNAM\u2019S BEEF AND BUFFALO MEAT MARKET LANDSCAPE IN 2024"},"content":{"rendered":"

Vietnam’s beef and buffalo meat market is expected to continue its growth in 2024, marked by emerging trends that present immense potential for the livestock industry. However, alongside these opportunities, the market also faces several challenges that need to be addressed for sustainable development.<\/span><\/p>\n

This article will analyze the beef and buffalo meat market in Vietnam in 2024, including consumption trends, production, exports, pricing, and the challenges confronting the industry. Let’s delve into this topic with Vietstock.<\/span><\/p>\n

Trends and outlook of Vietnam\u2019s beef and buffalo meat market in 2024<\/b><\/h2>\n

Industry trends<\/b><\/h3>\n

The domestic demand for beef and buffalo meat is expected to continue growing in 2024 due to rising disposable incomes, diverse culinary cultures, and the demand for protein-rich foods.\u00a0<\/span><\/p>\n

Fresh buffalo meat and beef are in high demand in households, while high-quality beef and buffalo meat and processed products are preferred in restaurants. Bovine meat are also widely used as ingredients in processed foods like sausages, hotdogs, and jerky.<\/span><\/p>\n

\"D\u1ef1
The projected domestic consumption of buffalo and beef is expected to continue growing in 2024.<\/figcaption><\/figure>\n

Regarding the domestic meat supply capacity, it is estimated to reach 350,000 tons, showing a slight increase compared to 2023. The main sources of meat supply come from about 1 million domestic livestock farming households, concentrated mainly in the North and Central Highlands regions. The North holds a high proportion of the total domestic meat supply. The South is also developing its livestock industry strongly in some provinces.<\/span><\/p>\n

Bovine meat have significant export potential, particularly in the Chinese market, where demand for Bovine meat is steadily increasing.\u00a0<\/span><\/p>\n

Retail prices of beef range from 350,000 to 500,000 VND\/kg, depending on the region and quality. Prices may increase slightly due to rising market demand and fluctuations in feed prices.<\/span><\/p>\n

Influences of the U.S. beef market<\/b><\/h3>\n

U.S. beef production is forecast to decline in 2024 due to the impact of drought and disease. The price of U.S. beef is expected to rise as the supply decreases.<\/span><\/p>\n

U.S. beef may compete with Vietnam’s Bovine meat in some market segments, especially in the high-end beef segment. However, Vietnam’s buffalo meat and beef still have their advantages, such as competitive pricing, distinctive flavor, and better suitability for the Vietnamese consumer palate.<\/span><\/p>\n

The growth of the U.S. beef market can also present opportunities for Vietnam’s buffalo meat and beef market. Specifically, the rising global demand for beef could drive exports of Vietnam’s buffalo meat and beef.<\/span><\/p>\n

Development trends of the buffalo and cow farming industry in 2024<\/b><\/h2>\n

In 2023, Vietnam’s buffalo and cow farming industry made significant strides, contributing to national food security. However, this industry still faces several challenges that need to be addressed to ensure sustainable growth in the future. So, what are the <\/span>development trends for the buffalo and cow farming market in 2024?<\/b><\/p>\n

Market demand:<\/b><\/p>\n