In-Depth Analysis of New Hope's Overseas Expansion Strategy and Southeast Asian Market Opportunities

Based on the latest collected data and market information, I will provide you with an in-depth analysis report on New Hope’s overseas expansion strategy and Southeast Asian market opportunities.

---

As a leading enterprise in China’s feed industry, New Hope’s internationalization strategy started early with a sound layout. According to public information, New Hope’s overseas expansion history can be traced back to 1999, when it invested in the construction of its first overseas enterprise in Ho Chi Minh City, Vietnam – Ho Chi Minh City New Hope Feed Co., Ltd.[1]. This marked the official start of New Hope’s international journey, making it one of the earliest Chinese feed enterprises to “go global”.

After more than 20 years of development, New Hope has established a relatively complete industrial chain layout in regions such as Southeast Asia, the Middle East, and Africa. Currently, the group has over 600 subsidiaries and branches worldwide, with more than 100,000 employees, and its sales revenue exceeded RMB 260 billion in 2024[1]. In overseas markets, New Hope’s feed sales have ranked among the top four in local markets, demonstrating strong market competitiveness.

New Hope Group has shown strong strategic intentions in promoting its internationalization strategy. In 2025, Liu Yonghao, Chairman of New Hope Group, attended and spoke at a symposium for private enterprises hosted by the General Secretary, highlighting the country’s high support for private agricultural enterprises to “go global”[1]. At the same time, Liu Chang, Chairman of New Hope Liuhe, accompanied Premier Li Qiang on a visit to Indonesia and spoke at a symposium for Chinese-funded enterprises, indicating that New Hope is actively expanding overseas market space by leveraging high-level diplomatic opportunities[1].

As the new generation leader of New Hope, Liu Chang spent three years visiting all of New Hope’s overseas factories, gaining a deep understanding and strategic thinking of overseas businesses. In an interview, she mentioned that the development of overseas companies has opened up a broader world for New Hope, and the company faces huge development opportunities in overseas markets.

According to the newly disclosed strategic plan, New Hope plans to achieve 3-4 million tons of new production capacity in overseas markets in the next 3-5 years[2]. This ambitious expansion plan demonstrates the company’s firm confidence in the development prospects of overseas markets. New Hope regards Southeast Asia as the core region for its overseas layout, focusing on markets in countries such as Vietnam, Indonesia, the Philippines, and Bangladesh.

Country	Layout Characteristics	Business Coverage
Vietnam	Location of the first overseas factory, top four in market share	Feed production, aquaculture
Indonesia	Large demographic dividend, significant market potential	Feed production, industrial chain extension
Philippines	Superior tropical agricultural conditions, rapid growth	Feed production, animal health business
Bangladesh	Emerging market, increasing penetration rate	Feed production, aquaculture services

---

As one of the most dynamic emerging markets in the world, the feed industry in Southeast Asia is in a period of rapid development. According to industry research data, global feed production reached 1.328 billion tons in 2024, with the Asia-Pacific region being the largest production area[3]. With population growth, income improvement, and accelerated urbanization in Southeast Asian countries, demand for meat protein continues to rise, driving the expansion of feed industry demand.

Taking Thailand as an example, according to the latest research report from Mordor Intelligence, the size of Thailand’s compound feed market will reach USD 6.7 billion in 2025, and is expected to grow to USD 8.6 billion by 2030, with a compound annual growth rate (CAGR) of 5.1%[4]. This growth is mainly driven by the following factors:

• Strong domestic livestock production
• Increasing export demand in the Greater Mekong Subregion
• Government support for factory modernization
• Transition to antibiotic-free production drives demand for high-end feed

Country	2025 Market Value	2030 Forecast	CAGR
Thailand	USD 6.7 billion	USD 8.6 billion	5.1%
Vietnam	Sustained growth	Significant expansion	6-8%
Indonesia	High-speed growth	Significant expansion	6-9%
Philippines	Steady growth	Significant expansion	5-7%

The rapid development of the aquaculture industry in Southeast Asia provides huge market opportunities for feed enterprises. As the largest aquaculture market in Southeast Asia, Indonesia’s recirculating aquaculture system (RAS) market size will grow from USD 796.7 million in 2022 to an estimated USD 1.0468 billion in 2035[5]. The aquaculture sector shows the highest compound annual growth rate, reaching 6.9%, mainly driven by the expansion of shrimp and fish farming[4].

New Hope has significant advantages in its aquaculture feed business in Southeast Asia. Relying on professional capabilities such as “feed, seedlings, animal health, and service system”, the company has expanded from a single-dimensional advantage in feed products to multi-dimensional advantages in the industrial chain, establishing a strong competitive position in the Southeast Asian aquaculture feed market.

• Continuous growth in market demand for chicken and eggs
• Farms in various countries invest in high-quality feed to improve meat quality
• Poultry feed accounts for the highest share of the feed enzymes market[6]

• Pork is the most widely consumed meat in Asia
• The compound annual growth rate of swine feed during the forecast period is 5.07%[6]
• The Asia-Pacific region is the world’s largest production area for swine feed

• Stable demand for dairy and beef cattle feed
• In the Asia-Pacific region, production has increased year by year due to the upgrading of dairy consumption and large-scale dairy farming[3]

---

The Southeast Asian feed market is becoming a new battlefield for Chinese and foreign feed giants. In addition to New Hope, Chinese enterprises such as Haid Group and Yuehai Feed are also accelerating their layout in the Southeast Asian market. Haid Group’s overseas feed sales reached 2.4 million tons in 2024, a year-on-year increase of 40%, and maintained a 40% year-on-year growth rate in the first half of 2025[7]. The company plans to reach 7.2 million tons of overseas feed sales by 2030 and further accelerate the expansion of overseas businesses.

Enterprise	Layout Strategy	Overseas Sales Growth Rate	Target Plan
New Hope	Industrial chain integration, in-depth localization	Steady growth	3-4 million tons of new capacity in 3-5 years
Haid Group	Integration of feed, seedlings, and animal health	40%	7.2 million tons in 2030
Yuehai Feed	Breakthrough in the Vietnamese market	Rapid growth	Initial stage of internationalization

Despite the huge opportunities in the Southeast Asian market, enterprises also face multiple challenges:

1. Localized Operation Challenges
   : Need to hire local management talents, respect cultural differences, and improve the capabilities of local employees through technical training[7]

2. Supply Chain Management
   : Raw material costs are volatile, and it is necessary to establish a local procurement system to reduce import dependence

3. Differences in Policy Environment
   : There are differences in investment policies, tax incentives, and regulatory requirements among countries

4. Intensified Competition
   : With more enterprises entering, market competition is becoming increasingly fierce, and price pressure is increasing

Facing intensified competition in the Southeast Asian market, some enterprises have begun to look at bluer ocean markets. In its 2024 annual report, Haid Group clearly stated that “many overseas regions are still in single-dimensional competition of feed products themselves, which is less fierce than domestic competition”, and is optimistic about the growth potential in Africa and Latin America[7]. Africa’s population is growing rapidly, urbanization is accelerating, and demand for animal protein continues to rise, but the local feed industrialization level is low, resulting in a significant market supply gap.

---

: As the earliest Chinese feed enterprise to lay out in Southeast Asia, New Hope has more than 25 years of local operation experience and a deep understanding of market rules, consumption habits, and regulatory environment[1]

: The company has established a complete industrial chain from feed production to aquaculture services, and can provide one-stop solutions

: Has established high brand awareness and customer trust in the local market

: New Hope has won a total of 8 National Science and Technology Progress Second Prizes, with strong technical strength[1]

Based on market analysis and competition situation, the following recommendations are put forward for New Hope’s Southeast Asia strategy:

1. Deepen Industrial Chain Localization
   : Based on the existing feed business, extend to the upstream and downstream, and establish a full industrial chain layout including seedling breeding, animal health services, slaughtering and processing

2. Differentiated Product Strategy
   : Develop functional feed products adapted to local aquaculture environments and consumer needs based on the characteristics of the Southeast Asian market

3. Technological Innovation Output
   : Transform the company’s technological advantages in precision feeding, feed enzyme application, biological feed and other fields into market competitiveness

4. Regional Synergy Effect
   : Leverage the advantages of layout in multiple countries such as Vietnam, Indonesia, and the Philippines to achieve regional synergy in procurement, production, and sales

5. Localization of Talent Training
   : Strengthen the training of local management and technical talents to reduce dependence on Chinese employees

---

• Political stability in some Southeast Asian countries is uncertain
• Exchange rate fluctuations may affect investment returns
• The rise of trade protectionism may affect raw material imports

• Cyclical fluctuations in the swine breeding industry affect feed demand
• Fluctuations in raw material prices affect cost control
• Diseases such as African swine fever affect the development of the breeding industry

• High complexity in managing overseas subsidiaries
• Challenges in cross-cultural communication and coordination
• Insufficient reserve of local talents

---

As a pioneer in the internationalization of China’s feed industry, New Hope has established a relatively stable market position and competitive advantages in the Southeast Asian market. Relying on first-mover advantages, industrial chain integration capabilities, and technological innovation strength, the company is expected to maintain its leading position in overseas expansion.

Looking forward, with the continuous economic growth, release of demographic dividends, and consumption upgrading in Southeast Asia, the feed industry will maintain a steady growth trend. New Hope’s plan to add 3-4 million tons of overseas production capacity in 3-5 years is highly achievable, and overseas businesses are expected to become an important engine for the company’s performance growth.

However, facing increasingly fierce market competition and complex operating environment, New Hope needs to continue to make efforts in deepening localized operations, strengthening technological innovation, optimizing talent structure, etc., to ensure the smooth implementation of its overseas expansion strategy.

---

[1] New Hope Group Official Website - Group Profile and Strategic Layout (http://www.newhopegroup.com/about.html)

[2] Beijing Business Daily - Haid Group Plans to List in Hong Kong, Overseas Becomes a New Arena for Feed Giants (https://xinwen.bjd.com.cn/content/s68f73511e4b0221b9bee7bad.html)

[3] Shanghai Jiashi Marketing Consulting Co., Ltd. - Brief Analysis Report on the Animal Feed Industry (http://chinamcr.com/report-jp/reportjp20251215.pdf)

[4] Mordor Intelligence - Thailand Compound Feed Market Size and Growth Analysis 2030 (https://www.mordorintelligence.com/zh-CN/industry-reports/thailand-compound-feed-market)

[5] Global Market Insights - Southeast Asia Recirculating Aquaculture System Market (https://www.gminsights.com/zh/industry-analysis/southeast-asia-box-truck-market)

[6] Fortune Business Insights - Feed Enzymes Market Size, Share and Growth Report (https://www.fortunebusinessinsights.com/zh/feed-enzymes-market-114503)

[7] Guosen Securities Research Report - In-Depth Analysis of Haid Group (002311.SZ) (https://pdf.dfcfw.com/pdf/H3_AP202508071722943609_1.pdf)