The Vietnam Pangasius market size reached 1.2 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 1.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.02% during 2023-2028.
Pangasius is a genus of medium-large to very large shark cat fishes native to fresh water in South and Southeast Asia. They have a low to medium fat content with high levels of protein. The Mekong river delta in Vietnam is the prime hub for aquaculture of Pangasius due to its abundance of fresh water. By far, Vietnam is the largest producer and exporter of Pangasius in the world.
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It has a long coastline and abundant supply of fresh water through the Mekong river. The Mekong delta has several inter connecting rivers and canals, primarily contributed to the rise of Pangasius aquaculture. Furthermore, technological advancements have reduced the labour cost and processing time, resulting in the decline in the Pangasius processing cost. Apart from this, the Vietnamese government has introduced sustainable farming practices to grow high-quality fish and also to minimize the environmental impact due to Pangasius aquaculture. The government has also implied various standards such as ASC, GLOBALG.A.P., VietGAP, BAP etc. to gain consumer confidence in the export market. Introduction of sustainable farming practices and certifications to hatcheries, farms and processing companies have also strongly contributed to the growth of the Pangasius industry in Vietnam. In addition to this, expansion of production capacities, sustainable trade initiatives and increased demand from China, United States and Europe are some of the other factors that are driving the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam pangasius market report, along with forecasts at the country and province level from 2023-2028. Our report has categorized the market based on culture type, feed type, rearing method and product type.
Breakup by Culture Type:
Fresh Water
Brackish Water
Breakup by Feed Type:
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Commercial Pellets
Home-Made Pellets
Breakup by Rearing Method:
Ponds
Floating Cage
Breakup by Product Type:
Processed
Raw
Value-Added
Breakup by Province:
Dong Thap
An Giang
Can Tho
Ben Tre
Vinh Long
Hau Giang
Tien Giang
Soc Trang
Tra Vinh
Kien Giang
Others
Competitive Landscape:
The report has also analysed the competitive landscape of the market 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.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
Million Tons
Segment Coverage
Culture Type, Feed Type, Rearing Method, Product Type, Province
Province Covered
Dong Thap, An Giang, Can Tho, Ben Tre, Vinh Long, Hau Giang, Tien Giang, Soc Trang, Tra Vinh, Kien Giang, Others
Companies Covered
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
Customization Scope
10% Free Customization
Report Price and Purchase Option
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Post-Sale Analyst Support
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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 Pangasius (Basa) market reached a volume of 1.2 Million Tons in 2022.
We expect the Vietnam Pangasius (Basa) market to exhibit a CAGR of 1.02% during 2023-2028.
The launch of favorable sustainable farming policies by government bodies that aid in cultivating high-quality fish and minimizing the environmental impact is primarily driving the Vietnam Pangasius (Basa) market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous aquaculture activities and restriction on export and import of Pangasius (Basa).
Based on the culture type, the Vietnam Pangasius (Basa) market has been divided into fresh water and brackish water, where fresh water currently exhibits a clear dominance in the market.
Based on the feed type, the Vietnam Pangasius (Basa) market can be categorized into commercial pellets and home-made pellets. Currently, commercial pellets account for the majority of the total market share.
Based on the rearing method, the Vietnam Pangasius (Basa) market has been segregated into ponds and floating cage, where ponds currently hold the largest market share.
Based on the product type, the Vietnam Pangasius (Basa) market can be bifurcated into processed, raw, and value-added. Currently, processed exhibits a clear dominance in the market.
On a regional level, the market has been classified into Dong Thap, An Giang, Can Tho, Ben Tre, Vinh Long, Hau Giang, Tien Giang, Soc Trang, Tra Vinh, Kien Giang, and others, where Dong Thap currently dominates the Vietnam Pangasius (Basa) market.
Some of the major players in the Vietnam Pangasius (Basa) market include 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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