Vietnam's CP dominates the pork market, Vietnamese 'giant' wants to build 2 apartments for 84,000 pigs

The pork market is like a giant cake that is getting bigger and bigger as Vietnamese people consume this food at the top of the world. If we count sows, CP Vietnam dominates the market, but the Vietnamese 'big guys' are also accelerating.

Vietnamese CP has overwhelming market share

According to data from the US Department of Agriculture , in 2021, 2022 and 2023, Vietnam ranked 6th among the countries with the highest pork production market share in the world, accounting for 2.4%, 2.5% and 3% of total global pork production, respectively.

In 2024, with domestic pork output reaching approximately 5.2 million tons, Vietnam accounts for 4.3% of total global pork production.

Pork consumption in Vietnam has tended to increase in recent years. Specifically, in 2021, the average Vietnamese person consumed about 30 kg/person per year, in 2022 it increased to 32 kg, in 2023 it was 33.8 kg and by 2024 it is estimated to reach 37.04 kg (in kg of carcass). Vietnam ranks 4th in the world in terms of pork consumption.

A report from the Department of Animal Husbandry and Veterinary Medicine (Ministry of Agriculture and Environment) shows that the number of pigs sold in 2024 will reach 53.53 million, equivalent to over 5.18 million tons of meat.

By the end of May 2025, the total number of pigs nationwide was estimated at 27.1 million, an increase of 3.6% over the same period last year. In particular, some localities had a sharp increase in the number of pigs due to attracting new investment enterprises, such as: Tay Ninh increased by 54.3%; Gia Lai increased by 38.6%; Tien Giang increased by 24.1%; Son La increased by 11.3%; Binh Dinh increased by 9.5%.

So, which business is dominating this ever-growing “giant pie” pig farming market?

According to the report on supply and demand, pig market prices in 2025 and forecasts of some scenarios in 2026 by AgroMonitor at the livestock industry conference held on June 4, Vietnam's pig herd this year tends to grow steadily at 3-4% compared to the same period last year. Large livestock companies continue to tend to increase their sow herd in 2025, especially in the Southern region in the second half of the year after the prolonged epidemic period.

AgroMonitor forecasts that by 2025, the total herd of sows (breeding pigs) - the core resource for increasing the herd - will reach 2.15 million, of which businesses account for 44% and households account for 56%.

Notably, CP Vietnam Livestock Joint Stock Company has the largest sow herd in both the North and South. The Thai livestock enterprise operates in Vietnam under a farmer-linked model, owning a sow herd of nearly 350,000 as of June 2025, equivalent to more than 16% of the total sow herd nationwide, according to AgroMonitor data.

CP Vietnam started operating in Vietnam in 1993 and quickly became a leader in the fields of livestock, food processing and seafood. Currently, this enterprise operates a closed production chain “Feed - Farm - Food” on a very large scale in Vietnam.

According to a figure published a few years ago, the total herd of sows raised by CP Vietnam at that time was about 200,000, with an average productivity of 23.5 weaned piglets/sow/year. Every year, CP Vietnam supplies the market with more than 6.8 million pigs.

Although there is no official data on the amount of pork the enterprise will supply in 2025, with nearly 350,000 sows and a system of linked farms across all regions, CP Vietnam's pork market share is overwhelming compared to other enterprises.

Coming in second is CJ Vina Agri Co., Ltd. This Korean company also operates under a closed 3F (Feed – Farm – Food) model. CJ currently has about 800 contracted pig farms and 80 concentrated pig farms spread across provinces and cities from North to South.

According to AgroMonitor's field survey and consultation data, CJ has a sow population of nearly 140,000.

Domestic livestock "giants" accelerate

Vietnam’s pig farming industry has a large domestic market with more than 100 million people and an increasing number of international tourists. Moreover, pork is one of the main foods consumed daily by Vietnamese people. Therefore, besides FDI enterprises, many domestic livestock “giants” are also accelerating to dominate the market.

Typically, BaF Vietnam Agriculture Joint Stock Company (BaF) has continuously expanded its production scale by acquiring dozens of livestock companies. Recently, BaF announced the transfer of 50% of its capital contribution at Khoi Duong Livestock Company Limited, a company that owns a 33-hectare pig farm in Dak Nong province.

This is the 7th company that BaF has conducted M&A with since the beginning of 2025 and the 15th company acquired since November 2024.

Recently, this enterprise sent a document to the Ministry of Agriculture and Environment proposing to build two "high-rise apartment buildings" with the capacity to raise about 84,000 sows and produce 2.1 million pigs per year.

According to the plan, BAF aims to increase total pork production to 1.65 million heads in 2025 and reach 2.74 million heads in 2026.

Domestic livestock enterprises are increasing the size of their sow and pork herds. Photo: Dabaco

Another livestock company that has emerged in the sow market is GreenFeed. According to the announcement at the end of June 2024, this unit owns 116,000 sows. Statistics from AgroMonitor show that in the North and South, GreenFeed has 64,000 sows.

According to data from Vietcap Securities Company, Dabaco Vietnam Group Joint Stock Company has 52,000 sows and supplies 1.5 million to the market. Meanwhile, AgroMonitor said that by 2025, this livestock giant will own nearly 50,000 sows in the North.

Dabaco is planning to increase its herd to 60,000 sows, while reducing its reliance on contracts with small-scale farms.

Not in the group of 5 enterprises with the largest sow herds in our country, but in 2025, Hoa Phat Group sold 565,000 commercial pigs to the market even though the sow herd had only 25,000 pigs.

The Ministry of Agriculture and Environment informed that the price of live pigs is high, while the price of animal feed has decreased, helping pig farmers gain good profits. Currently, the price of live pigs for slaughter fluctuates from 68,000 to 75,000 VND/kg.

In fact, last year, livestock businesses in our country competed to report huge profits. Specifically, GreenFeed recorded a profit after tax in 2024 of more than VND 2,106 billion; Dabaco achieved a profit of VND 769 billion; BaF achieved a profit of VND 395 billion; Hoa Phat achieved VND 1,038 billion...

In 2025, pig farming will continue to be favorable, especially with the price of commercial pigs remaining high. Therefore, businesses are targeting strong revenue and profit growth.

Source: https://vietnamnet.vn/cp-viet-nam-thong-tri-ong-lon-viet-muon-xay-2-chung-cho-heo-2409239.html