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Vietnam Pangasius Market to Exhibit Stable Growth During 2020-2025, Propelled by Introduction of Sustainable Farming Practices

As per the latest report by IMARC Group, titled “Vietnam Pangasius Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the Vietnam pangasius market size reached 1.22 Million Tons in 2019. Pangasius is a type of freshwater catfish that is primarily found in Vietnam. It has a dark grey colored back, silver belly and long twin beard with more red blood cells than other types of fish. Pangasius is available in many forms in the market, such as skinless and boneless fillets or portions in different sizes and shapes cut from the fillets. At present, Vietnam is one of the dominant exporters and cultivators of pangasius across the globe. Over the years, the pangasius sector in the country has undergone vitals changes, with the production shifting from small farm owners to big enterprises.

Vietnam Pangasius Market Trends:

One of the significant growth factors for the market is the abundance of fresh water sources in Vietnam, which has facilitated the pangasius aquaculture across the country. Additionally, pangasius species have a low to moderate fat content with high levels of protein. This, along with their relatively lower cost, delicate texture and mild flavor, has increased the demand for pangasius across various countries, consequently providing a positive impact on the export market in Vietnam. Apart from this, the Vietnam Pangasius Association (VPA) has emphasized the need to focus on broodstock quality, general fish health and technological improvement in order to ensure sustainable growth. As a result, they are advancing and mandating the use of Best Aquaculture Practices (BAP) to minimize the impact on local environments and communities. This has led to the growth of high-quality pangasius cultivation, as well as expansion in production capacities. Moreover, Vietnamese farming companies are also investing in hatcheries and processing facilities to improve vertical integration. Looking forward, the market is projected to witness stable growth during the forecast period (2020-2025).

Market Summary:

  • Based on the feed type, the market has been bifurcated into commercial and home-made pellets.
  • On the basis of the rearing method, the market has been segregated into ponds and floating cages.  
  • The market has been classified based on the product type into raw, processed and value-added pangasius.
  • Region-wise, the market has been divided into Dong Thap, An Giang, Can Tho, Ben Tre, Vinh Long, Hau Giang, Tien Giang, Soc Trang, Tra Vinh, Kien Giang and others.
  • The competitive landscape of the market has also been examined, with some of the key players being Anvifish Joint-Stock Company, Aquatex Ben Tre, Bien Dong Seafood Company Limited, Can Tho Import Export Seafood JSC, Cuu Long Seafood Import and Export JSC, Dai Thanh Seafood, Fatifish Company Limited, Go Dang Joint Stock Company (GODACO), Hung Ca Company Limited, IDI Corporation, NAVICORP, NTSF Seafood Joint Stock Company and Vinh Hoan Corporation.

 

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