Vietnam Pangasius Market

Market Overview:

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.

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:

• 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: