Vietnam: Food Processing Ingredients
Vietnam is the 10th largest agricultural and related product export market of the United States. In 2017, Vietnam imported US$13.9 billion of consumer-orientated products, an 11.2 percent increase over 2016, mainly from China, India and other ASEAN countries. In 2017, the United States’ market share for consumer oriented products was 6 percent, with a total value of US$806.7 million. The food and beverage processing sector has experienced strong growth over past 5 years. Progress in food technology, marketing innovations, growing domestic demand, and exports of processed food have all contributed to Vietnam’s increasing demand for food ingredients. Processed food product sales are a major focus in the domestic market for the retail and food service sectors. Market demand is growing, but so is competition. Reduced and eliminated tariffs for Vietnam’s many free trade agreement (FTA) partners threaten the competiveness of U.S. food and agricultural exports.
