Nor-Feed launches subsidiary in Vietnam
Nguyen Anh Ngoc has been tapped to lead the new Nor-Feed Vietnam affiliate
Nor-Feed, specialists in botanical additives for animal feed, announces the opening of its Vietnamese affiliate, Nor-Feed Vietnam. Lead by Nguyen Anh Ngoc, this fourth affiliate aims at being closer to expanding local and regional markets.
The launching of a Vietnamese affiliate is a new milestone in the international expansion of Nor-Feed. The company is strengthening its presence in the growing Asian economy, by opening its fourth affiliate.
This launching is also the result of a meeting with Ngoc, a young entrepreneur who is taking charge of the affiliate at the age of 29.
After graduating from ESC Hanoi and getting a Master’s degree in International business in France, Ngoc (or Mathias) worked as country manager in a company specializing in hydrolyzed products from aqua products. He created NAN Vietnam in 2015 with a partner and launched Nor-Feed Vietnam in early 2016.
“Nor-Feed creation is a good opportunity because feed manufacturers are looking for alternatives to antibiotics, especially looking forward to 2020 when antibiotics bill be banned as growth promoters,” said Ngoc.
Vietnam: an expanding market
According to a report from Grand View Research, the Vietnamese feed market will reach $10.55 billion in 2022. However, this market is still very dependent on foreign imports (77 percent of the feed additives are imported).
This evolution may be explained by the increasing meat consumption, linked with the increasing income of the Vietnamese population (about 90 million people).
According to the official Vietnamese authorities, meat consumption should grow by 2.9 percent per year until 2022.