Vietnam: Food Processing Ingredients Annual

The Vietnamese food processing industry grew by 7.4 percent in 2024 to $79.3 billion and food ingredient demand is expected to remain strong, driven by the expansion of industrial zones, increasing domestic prosperity, and government restructuring to support economic growth. Imports of U.S. consumer-oriented products increased by 24 percent in 2024, with the highest growth in tree nuts (65 percent) and beef (60 percent). Tree nuts, fresh and dried fruits, milk powder, colostrum, meat, bakery ingredients, dairy products, wheat, soybeans, and potatoes all have strong potential. As household incomes rise, Vietnamese processors are shifting from focusing on process-and-reexport to selling in the domestic market. These processors are interested in importing more food ingredients and tailoring finished products to meet Vietnamese tastes in rural and urban markets.