masan, Vietnam is in the Top 10 largest pork-consuming

The Import-Export Department (Ministry of Industry and Trade) cited the latest forecast of the U.S. Department of Agriculture (USDA) as saying that global pork consumption is expected to reach 131 million tons in 2030, an increase of 7.2% compared to the previous year. 2023. In Vietnam and the United States, pork consumption is expected to increase by 28.3% and 11.7%, respectively.

Besides, Vietnam is among the 10 countries with the largest pork consumption in the world. According to the Organization for Economic Cooperation and Development (OECD), in 2025, Vietnam’s pork production is expected to reach 4 million tons; in 2030, it will reach 4.7 million tons, corresponding to an average growth rate of 3.1% per year.

Currently, domestic meat production only meets 95% of consumption. Therefore, the livestock sector has great potential and attracts substantial investment from foreign and domestic sources. Vietnam’s meat industry is poised for significant growth as it meets the needs of a growing population.

Despite great potential, Vietnam’s meat market is not standardized, as more than 90% of pork products on the market are unbranded. Meanwhile, consumers are increasingly paying attention to products that can be traced back to their origin.

This creates conditions for Masan MEATLife Joint Stock Company (MML) – a member of Masan Group and one of the leading enterprises in Vietnam in the branded meat business, to have great growth potential and is an opportunity to set new standards for consuming high-quality, safe meat at reasonable prices for Vietnamese consumers.

Since launching the MEATDeli chilled meat brand, MML’s meat business has grown nearly 8 times in revenue, from VND 330 billion in the first year (2019) to VND 2,500 billion in 2022.

The latest recorded business results of the first quarter of 2024, MML’s revenue increased to VND 1,720 billion, up 7.5% compared to VND 1,600 billion in the first quarter of 2023. This result comes from the growth of the branded pork and farm pig segments, a total increase of 23% over the same period last year. MML’s gross profit margin increased from 11.7% in the first quarter of 2023 to 23.3% in the first quarter of 2024, thanks to rising pork and poultry prices. These positives help MML’s EBITDA margin increase significantly, from 1.7% in the first quarter of 2023 to 7.2% in the first quarter of 2024.