Vietnam Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Vietnam Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A1264
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Market Overview:

The Vietnam aquafeed market size reached US$ 313.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 561.4 Million by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.

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.

To get more information on the regional analysis of this market, Request Sample

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 2023-2028. 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 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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. and Uni President Vietnam
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
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)

Key Questions Answered in This Report

The Vietnam aquafeed market was valued at US$ 313.5 Million in 2022.

We expect the Vietnam aquafeed market to exhibit a CAGR of 10.1% during 2023-2028.

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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Vietnam Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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