Vietnam's pork market continues to expand rapidly, driven by one of the world's highest per capita consumption rates. While C.P. Vietnam maintains a dominant position in breeding sows, major Vietnamese livestock companies are now accelerating efforts to catch up - some proposing the construction of high-rise pig farms to house tens of thousands of sows.

C.P. Vietnam holds overwhelming market share

According to the U.S. Department of Agriculture, Vietnam ranked sixth globally in pork production in 2021, 2022, and 2023, contributing 2.4%, 2.5%, and 3% of the world's total pork output, respectively. In 2024, Vietnam’s domestic pork production reached approximately 5.2 million tons, accounting for 4.3% of global supply.

Vietnam’s per capita pork consumption has steadily increased from 30 kg/year in 2021 to an estimated 37.04 kg in 2024, making it the fourth largest pork-consuming country globally.

Data from the Department of Livestock Production and Animal Health (Ministry of Agriculture and Environment) shows that 53.53 million pigs were slaughtered in 2024, translating to over 5.18 million tons of pork. By the end of May 2025, the national pig herd was estimated at 27.1 million, a 3.6% increase year-over-year. Several provinces recorded sharp rises in herd size due to new corporate investment, including Tay Ninh (+54.3%), Gia Lai (+38.6%), Tien Giang (+24.1%), Son La (+11.3%), and Binh Dinh (+9.5%).

A recent AgroMonitor report presented at a livestock industry seminar on June 4 indicated that Vietnam’s pig herd is expected to grow steadily by 3-4% in 2025. The number of breeding sows - the core of herd expansion - is projected to reach 2.15 million, with 44% managed by enterprises and 56% by smallholders.

Leading the field is Thai-backed CP Vietnam, which operates under a farm-partnership model and holds the country’s largest sow herd in both the North and South. As of June 2025, CP Vietnam had nearly 350,000 sows - more than 16% of the national total.

CP Vietnam began operations in 1993 and quickly became a leader in animal husbandry, food processing, and aquaculture. It runs a vast integrated supply chain under the "Feed - Farm - Food" model. A few years ago, the company reported 200,000 contract-bred sows with an average productivity of 23.5 weaned piglets per sow per year. Annually, it supplies over 6.8 million pigs to the market. While 2025 figures haven’t been officially released, CP Vietnam's current sow herd and nationwide network make it the dominant pork producer in Vietnam.

South Korea’s CJ Vina Agri, which also follows a 3F (Feed - Farm - Food) closed-loop model, operates around 800 contract farms and 80 centralized farms nationwide. Based on AgroMonitor field data and consultations, CJ currently manages around 140,000 sows.

Vietnamese companies step up the race

Vietnam’s domestic pig industry enjoys a large internal market with a population of over 100 million and rising international tourism. With pork being a dietary staple, domestic players are scaling up to capture market share from foreign-invested enterprises.

BaF Vietnam Agriculture JSC is aggressively expanding by acquiring livestock businesses. In its seventh M&A deal of 2025 - and fifteenth since November 2024 - BaF acquired a 50% stake in Khoi Duong Livestock Co., which owns a 33-hectare pig farm in Dak Nong province.

BaF recently submitted a proposal to the Ministry of Agriculture and Environment to construct two “high-rise pig farms” capable of housing 84,000 sows and producing 2.1 million pigs annually. The company targets 1.65 million slaughter pigs in 2025 and 2.74 million in 2026.

GreenFeed is also emerging as a key sow producer, with 116,000 sows reported in June 2024. AgroMonitor data shows the company has 64,000 sows in the North and South combined.

According to Vietcap Securities, Dabaco Group currently maintains 52,000 sows and supplies 1.5 million pigs to the market. AgroMonitor estimates that in 2025, Dabaco has close to 50,000 sows in the North. The company aims to raise this to 60,000 while reducing dependence on small-scale contract farms.

Though not among the top five sow producers, Hoa Phat Group managed to sell 565,000 pigs in 2025 with a sow herd of just 25,000.

According to the Ministry of Agriculture and Environment, high live pig prices combined with falling feed costs have boosted industry profits. Live pigs are currently trading at VND 68,000–75,000 per kilogram (approx. USD 2.68–2.95/kg).

This favorable environment has driven strong earnings across the livestock sector. In 2024, GreenFeed reported post-tax profits exceeding VND 2,106 billion (approx. USD 83 million), Dabaco earned VND 769 billion (approx. USD 30 million), BaF netted VND 395 billion (approx. USD 15.5 million), and Hoa Phat posted VND 1,038 billion (approx. USD 41 million) in profit.

With prices expected to remain high, 2025 is shaping up to be another profitable year. Many firms are setting ambitious revenue and profit targets in response.

Tam An