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Preliminary statistics from the Customs Department reveal that in May 2025, Vietnam spent over $126 million on importing dairy products, marking a 13.6% increase from the previous month. Cumulatively, for the first five months of the year, the country has spent more than $578 million on dairy imports, reflecting a 32% surge compared to the same period in 2024.
In terms of market sources, New Zealand, Australia, and the United States are the primary suppliers of dairy products to Vietnam. Specifically, New Zealand tops the list with a trade value of over $191 million, signifying a significant 66% jump from the previous year.
Australia, the second-largest supplier, contributed over $58 million, a 20% increase from the previous year.
The United States, ranking third, accounted for nearly $41 million, although this represented a 32% decrease compared to the first five months of 2024.
Apart from these three dominant markets, dairy imports from Southeast Asian countries amounted to $75.73 million, a 16.9% rise from 2024. Imports from EU countries also witnessed a substantial increase, reaching $132.52 million, up by 55.8%.
The Vietnamese dairy market is experiencing robust growth, driven by escalating consumer demand and intense competition among brands and manufacturers, including imported products. Presently, import taxes on liquid milk range from 2% to 15%, while the tax on milk powder stands at 10%.
According to Modor Intelligence, a leading market analysis firm, Vietnam’s dairy industry is currently one of the fastest-growing food and beverage markets in Southeast Asia. The total market value reached $4.2 billion in 2024 and is projected to expand at a CAGR of 8.65% until 2029.
Vietnam’s fresh milk production reached 1.2 billion liters in 2021 and is expected to increase to 2 billion liters by 2030. Despite this growth, domestic fresh milk production only meets 40-50% of the country’s demand, with the remainder relying on imports.
IMARC Group, a prominent global market research company, forecasts a robust growth rate of 9.4% for the Vietnamese dairy market between 2024 and 2032.
In terms of product segments, milk powder and liquid milk account for nearly three-quarters of the Vietnamese dairy market. Yogurt and drinking yogurt are the fastest-growing categories, with annual growth rates of 12% and 10%, respectively, outpacing the 4% growth of milk powder.
Research and Markets predict that per capita milk consumption in Vietnam will reach 40 liters per person per year by 2030, translating to an annual growth rate of approximately 4%. This indicates that there is still significant room for expansion in the Vietnamese dairy market.
Currently, around 200 companies operate in Vietnam’s dairy industry, including 40 specialized manufacturers and distributors. Domestic enterprises hold the majority market share (approximately 75%), while foreign companies account for the remaining 25%.
The leading domestic dairy companies include Vinamilk, TH True Milk, Nutifood, IDP, and Moc Chau Milk. Prominent foreign players in the market are FrieslandCampina (Netherlands), Nestlé (Switzerland), Abbott (US), Mead Johnson (US), and Fonterra (New Zealand).
“GippsNature: Raising the Bar for Vietnamese Nutrition.”
GippsNature is an exquisite Australian-standard dairy brand, co-created by Nutifood (Vietnam) and ViPlus Dairy (Australia). With our meticulous attention to detail, we ensure that GippsNature surpasses the expectations of both domestic and international consumers who demand the very best in terms of product origin, purity of ingredients, and exemplary quality standards.
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Vinamilk wins big in early 2024 at Superior Taste Award rankings
In early 2024, Vinamilk further solidified its position as the leading dairy brand in Vietnam with a remarkable achievement. A total of 11 Vinamilk 100% Fresh Milk and Vinamilk Yogurt were honored with the prestigious Superior Taste Award, often referred to as the “Michelin star” of the food and beverage industry. This recognition reaffirms Vinamilk’s commitment to delivering exceptional quality and taste to consumers.
