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Vietnam Aquafeed Market Report by Ingredient (Grains and Cereals, Soybean, Fish Meal, Additives, Fish Oil, and Others), Additives (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers, and Others), Product Forms (Pellets, Extruded, Powdered, Liquid), End User (Catfish, Shrimp, Mollusks, Tilapia, Carps, Salmon, and Others), Distribution Channel (Direct to Farmers, Local Wholesalers, Exports, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A1264
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Market Overview:
The Vietnam aquafeed market size reached US$ 345.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 755.2 Million by 2032, exhibiting a growth rate (CAGR) of 8.8% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 345.1 Million |
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Market Forecast in 2032
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US$ 755.2 Million |
| Market Growth Rate 2024-2032 | 8.8% |
A major factor driving the demand of aquafeed in the country is its large aquaculture market. Vietnam is currently ranked as the fourth-largest producer of seafood from aquaculture, after China, Indonesia, and India. Moreover, changes in the diet preferences of consumers coupled with rising incomes have increased the consumption of seafood within the country creating a positive impact on the aquafeed market. Some of the major seafood products in Vietnam include shrimps, pangasius, tuna and marine fish. Some of the other factors driving the market include rising exports, strong government support, advancements in feed manufacturing technology, rising awareness on the adoption of modern feeding practices, etc. Catalyzed, by the rising demand, existing players in the country have expanded their production capacities and several new players have also recently entered the market.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam aquafeed market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on ingredient, additives, product forms, end user and distribution channel.
Breakup by Ingredient:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
To get more information on the regional analysis of this market, Request Sample
- Grains and Cereals
- Soybean
- Fish Meal
- Additives
- Fish Oil
- Others
Breakup by Additives:
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
Breakup by Product Forms:
- Pellets
- Extruded
- Powdered
- Liquid
Breakup by End User:
- Catfish
- Shrimp
- Mollusks
- Tilapia
- Carps
- Salmon
- Others
Breakup by Distribution Channel:
- Direct to Farmers
- Local Wholesalers
- Exports
- Others
Breakup by Region:
- Southern Vietnam
- Northern Vietnam
- Central Vietnam
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Cargill Inc., Charoen Pokphand Foods PCL, De Heus Animal Nutrition, GreenFeed Vietnam Corp., Uni President Vietnam, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | Million Tons, US$ Million |
| Segment Coverage | Ingredient, Additives, Product Forms, End User, Distribution Channel, Region |
| Region Covered | Southern Vietnam, Northern Vietnam, Central Vietnam |
| Companies Covered | Cargill Inc., Charoen Pokphand Foods PCL, De Heus Animal Nutrition, GreenFeed Vietnam Corp., Uni President Vietnam |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The Vietnam aquafeed market was valued at US$ 345.1 Million in 2023.
We expect the Vietnam aquafeed market to exhibit a CAGR of 8.8% during 2024-2032.
The escalating consumption of seafood, along with the introduction of new feed variants produced from high-quality natural and organic ingredients, is currently driving the Vietnam aquafeed market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in temporary halt in various aquaculture activities and disruption in supply chain for aquafeed.
Based on the ingredient, the Vietnam aquafeed market can be segmented into grains and cereals, soybean, fish meal, additives, fish oil, and others. Currently, grains and cereals hold the majority of the total market share.
Based on the additives, the Vietnam aquafeed market has been divided into amino acids, antibiotics, vitamins, feed acidifiers, and others, where amino acids currently exhibit a clear dominance in the market.
Based on the product forms, the Vietnam aquafeed market can be categorized into pellets, extruded, powdered, and liquid. Among these, pellets-form aquafeed currently accounts for the majority of the total market share.
Based on the end user, the Vietnam aquafeed market has been segregated into catfish, shrimp, mollusks, tilapia, carps, salmon, and others. Currently, catfish exhibits a clear dominance in the market.
Based on the distribution channel, the Vietnam aquafeed market can be bifurcated into direct to farmers, local wholesalers, exports, and others. Among these, direct to farmers distribution channel holds the largest market share.
On a regional level, the market has been classified into Southern Vietnam, Northern Vietnam, and Central Vietnam, where Southern Vietnam currently dominates the market.
Some of the major players in the Vietnam aquafeed market include Cargill Inc., Charoen Pokphand Foods PCL, De Heus Animal Nutrition, GreenFeed Vietnam Corp., Uni President Vietnam, etc.
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