March 14, 2016
Nor-Feed announces launch of new subsidiary in Vietnam
Nor-Feed, a specialist in botanical additives for animal feed, has announced the opening of its Vietnamese affiliate, Nor-Feed Vietnam.
Lead by Nguyen Anh Ngoc, this fourth affiliate aims at be closer in expanding local and regional markets.
The launching of a Vietnamese affiliate is a new milestone in the international expansion of Nor-Feed. It is also the result of a meeting with Nguyen Anh Ngoc, a young entrepreneur who is taking charge of the affiliate.
After graduating from ESC Hanoi and receiving a Master's degree in International business in France, Nguyen Anh Ngoc worked as country manager in a company specialising in hydrolyzed products from aqua products. He created NAN Vietnam in 2015 with a partner and launched Nor-Feed Vietnam in early 2016.
"Nor-Feed's creation is a good opportunity because feed manufacturers are looking for alternatives to antibiotics, especially looking forward to 2020 when antibiotics bill be banned as growth promoters", said Ngoc.
Vietnam: an expanding market
According to a report from Grand View Research, the Vietnamese feed market will reach US$10.55 billion in 2022. However, the market is still very dependent on foreign imports which makes up 77% of feed additives.
Increased meat consumption, coupled with rising income of the local population of about 90 million people, may explain the growth.
In 2014, Vietnam's meat consumption is quite atypical when compared to other developing countries:
|
Pork meat |
28.8 kg/capita |
|
Poultry meat |
12.7 kg/capita |
|
Beef & veal |
9.6 kg/capita |
|
Mutton |
0.1 kg/capita |
According to Vietnamese authorities, meat consumption is expected to grow by 2.9% yearly until 2022.
Nor-Feed Vietnam will be present at the French Pavilion of the Ildex Vietnam Trade Fair that will take place in Ho Chi Minh City on March 23-25.
