In 2025, Hoa Phat Agricultural Development JSC (HPA) recorded a historic high in animal feed production, reaching 357,000 tons. This marked a 5.5% increase year-on-year and surpassed the previous peak of 340,000 tons in 2021.
Market sales exceeded 177,000 tons, up 7.3% compared with the prior year. Another 180,000 tons were supplied internally to the Group’s integrated farming system.
During the same period, HPA supplied nearly 280,000 breeding animals to the market. This expansion strengthened customer demand for industrial feed products and deepened brand penetration across Vietnam’s agricultural value chain.
Industry challenges highlight Hoa Phat’s competitive edge
Nationwide industrial feed output surpassed 22 million tons in 2025, rising 2.88% year-on-year, according to the Vietnam Feed Association and the Vietnam Livestock Association. Growth, however, slowed due to natural disasters, flooding, and disease pressure. African swine fever alone caused 2782 outbreaks across 34 provinces and cities—13 times higher than the previous year.
Against this backdrop, Hoa Phat’s 5.5% growth rate was nearly double the industry average. Its competitive strength lies in a vertically integrated model that links feed production with livestock farming. Pig feed accounted for 76% of total output, compared with an industry average below 60%, underscoring its focus on higher-value segments.
Expansion strategy builds nationwide distribution power
Hoa Phat entered the feed sector in 2015 with its first mill in Hung Yen Province, designed for 300,000 tons annually. A second mill in Dong Nai Province began operations in 2017, lifting total capacity to 600,000 tons per year.
Today, the company operates a nationwide network of more than 600 feed distributors and ranks among Vietnam’s top 13 feed producers. In 2025, the feed segment contributed 27% of revenue and 22% of net profit after tax for HPA.
Revenue growth fuels ambitious 2030 targets
Established in 2016, HPA operates across four core segments: animal feed, pig farming, cattle farming, and poultry production. In 2025, the company posted revenue of USD 340 million, up 18% year-on-year and exceeding its plan by 4%. Net profit after tax reached USD 65 million, a 55% increase that surpassed its target by 22%.
HPA currently holds the leading market share in Australian beef and ranks first in northern Vietnam’s egg market with output of nearly 1 million eggs daily. It ranks 13th in animal feed production, and is among the leading players in pig farming with an annual capacity of 750,000 heads.
Looking ahead to 2030, HPA annual production targets are:
- ✅ 1 million tons feed production capacity
- ✅ 900,000 commercial pigs
- ✅ 336 million eggs, and
- ✅ 73,000 head of cattle.
In January 2026, HPA successfully completed its initial public offering, issuing 30 million shares at USD 1.71 each and raising USD 51 million. The IPO lifted charter capital from USD 104 million to USD 116 million, and on January 29, the Ho Chi Minh Stock Exchange approved the listing of 285 million HPA shares. Trading was scheduled to begin on February 6, marking a significant milestone in the company’s long-term growth strategy.