Vietnam Aquaculture Market Report

Market Overview:

The Vietnam aquaculture market size reached 4.9 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 6.2 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028.

Vietnam is one of the most suitable places for the seafood industry, including both aquaculture and open ocean fishing with its coastline of 3,260 kilometres and an Economic Exclusion Zone of 1 million square kilometres. Currently, Vietnam is ranked as the fourth-largest producer of seafood from aquaculture behind China, Indonesia and India. Aquaculture systems are diversified according to different geographical and climatic conditions as one moves from the north, through central to the south of Vietnam.

Over the past few years, there has been an increasing consumption of fish in Vietnam. Some of the key factors driving the consumption of fish in Vietnam is their heir high nutritional value, their easiness to digest and the fact that they are more economical compared to other protein sources such as beef or pork. Moreover, consumers in Vietnam prefer fish in their diet as it's easy to cook, widely available, and adds variety to the daily diet. Some of the important seafood products include shrimp, pangasius, tuna and marine fish. Shrimp, currently represents the most important export product, and accounted for around 50% of the total export turnover of the country. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam aquaculture market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on product type, environment and distribution channel.

Breakup by Product Type:

• Freshwater Fish
• Crustaceans
• Mollusks
• Others
   

On the basis of product type, the market has been segmented as freshwater fish, crustaceans, mollusks and others. Currently, freshwater fish dominates the market, holding the largest share.

Breakup by Environment:

• Fresh Water
• Brackish Water
• Marine Water
   

Based on the environment, the market has been divided as fresh water, brackish water and marine water. Fresh water represents the biggest segment, accounting for the largest market share.

Breakup by Distribution Channel:

• Traditional Retail
• Specialized Retailers
• Supermarkets and Hypermarkets
• Online Retailers
• Others
   

Based on the distribution channel, the market has been segregated into traditional retail, specialized retailers, supermarkets and hypermarkets, online retailers and others.

Breakup by Region:

• Southern Region
• Northern Region
• Central Region
   

Based on the region, the market has been segmented into northern, central and southern regions.

Competitive Landscape:

The report has also examined the competitive landscape of the Vietnam aquaculture market. Some of the major players include:

• Ca Mau Seafood Processing & Service Joint Stock Corporation
• Hung Vuong Corporation
• Minh Phu seafood corporation
• Vinh Hoan corporation
• Quoc Viet seafood
• Dong Nam Seafood
• Phuong Dong Seafood
• Ngoc Sinh seafood
• SOC Trang Seafood Joint Stock Company
• Thuan Hung Fisheries Company Ltd

This report provides a deep insight into the Vietnam aquaculture market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Vietnam aquaculture market in any manner.

Report Coverage: