Vietnam's Booming Peanut Market
A Prime Opportunity for Indian Exporters
Vietnam is rapidly emerging as a dynamic destination in the global peanut value chain. With changing domestic cultivation trends, rising health consciousness, and a robust food processing industry, Vietnam offers a lucrative market for premium quality peanuts. For Indian exporters, this presents a strategic window to strengthen supply partnerships and expand market share.
Declining Domestic Production, Rising Import Needs
While peanut consumption in Vietnam is projected to reach 600,000 metric tons by 2026, domestic production is expected to decline slightly to 441,050 metric tons. This widening supply-demand gap underscores Vietnam's increasing reliance on peanut imports.
Vietnam's Peanut Production vs Consumption (2021-2026)
- Production → Gradual decline (~ -0.1% per year)
- Consumption → Steady growth (~ +0.6% per year)
India: Vietnam's Leading Peanut Supplier
India has established itself as Vietnam's largest peanut supplier, accounting for 46% of total imports in 2022–2023. India exported 0.16 million metric tons to Vietnam during this period, with popular varieties like Bold 40/50 and TJ 50/60 gaining strong traction.
Vietnam's Peanut Butter Market on the Rise
Vietnam's peanut butter market reached USD 20.2 million in 2024 and is projected to grow to USD 30.5 million by 2033 (CAGR 3.5%). Rising demand for healthy, plant-based snacks is driving this growth.
Key Trends:
- Health-conscious snacking culture
- Vegetarian and protein-rich diets
- Versatile use in sandwiches, dips, and smoothies
Strategic Opportunities for Indian Exporters
Year-Round Supply Advantage
India's year-round availability attracts Vietnamese buyers seeking stability.
Competitive Pricing
Indian peanuts are more cost-effective compared to local varieties, boosting export potential.
Product Versatility
From raw peanuts to processed peanut butter and oil, Indian exporters can cater to diverse B2B and retail needs.
Vietnam's Peanut Market Segments
Distribution Channels:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
Regional Demand:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Conclusion: A Market Primed for Growth
Vietnam's peanut market stands at a pivotal point. With declining local production and expanding demand across retail, food service, and processing sectors, the door is open for Indian exporters. By leveraging quality, cost advantages, and reliability, India can cement its leadership in Vietnam's evolving peanut industry.