May 8, 2024
Vietnam's dairy industry pursues sustainability amid rising demand
Vietnam's dairy sector is embracing sustainability for regional growth, as it grapples with surging domestic milk demand, VnEconomy reported.
Tran Quang Trung, chairman of the Vietnam Dairy Association, outlined this strategic vision at the launch of the 4th Vietnam International Milk and Dairy Products Exhibition (Vietnam Dairy 2024), underscoring the industry's commitment to modernisation and eco-friendly practices.
Central to this modernisation effort is the adoption of "green production" solutions, including net-zero emissions on farms, renewable energy utilisation, and extensive tree planting initiatives. These initiatives not only address environmental concerns but also position Vietnamese dairy products favourably in a global market increasingly inclined toward sustainability.
Trung emphasised the sector's dedication to delivering high-quality products that meet global standards, reflecting its aspirations for international recognition and market penetration.
Despite economic challenges stemming from the pandemic and geopolitical uncertainties, Vietnam's dairy market has exhibited robust growth, with revenues reaching US$5 billion in 2022 and projected to climb to US$5.03 billion in 2023.
Associate professor Le Bach Mai highlighted that Vietnam's per capita milk consumption still trails behind regional and global averages, signalling untapped growth potential.
With the dairy market playing a crucial role in addressing malnutrition and stunting among Vietnamese children, increased milk consumption is anticipated in the coming years.
The Vietnam Dairy 2024 exhibition, scheduled for May 30 to June 2, 2024, in Ho Chi Minh City, serves as a pivotal platform for industry stakeholders to network, collaborate, and drive growth. Nearly 200 booths will showcase businesses from around the world, reflecting Vietnam's ambition to integrate into global dairy networks.
Trung views the exhibition as an opportunity to strengthen investment cooperation, trade ties, and technological advancements essential for the sector's sustainable development.
- VnEconomy