Vietnam Dairy Market – Sales growth will slow down in the long-term
- Vietnam dairy consumption continues to be weak in Q1-2024 with a decline of 2.8% YoY attributed to the bleak consumer sentiment from the end-2022 until now.
- In period of 2024-28, dairy market sales growth will slow down due to the higher-and-higher milk consumption per capita compared to Asian peers’ and the birth rate decreased in Vietnam.
- Dairy companies' 2024 profits will benefit from the downward trend in prices of raw milk powder, but will be offset by decelerating revenue growth and increased SG&A expenses/revenue due to fierce competition.
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