IMARC Group, a leading market research company, has recently releases report titled “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”. The study provides a detailed analysis of the industry, including the Vietnam aquafeed market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Vietnam Aquafeed Market?
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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Vietnam Aquafeed Market Trends and Drivers:
The Vietnam aquafeed market is experiencing significant growth, primarily propelled by the increasing demand for seafood in the country. Furthermore, the growing consumer awareness regarding several benefits of consuming high-quality seafood, such as tuna, crab, shrimp, etc., is also catalyzing the market for aquafeed across the country. Moreover, the expansion of aquaculture activities across Vietnam, which is one of the major producers of fish and seafood, is also providing a positive outlook to the market growth in Vietnam.
Apart from this, the emerging preference for sustainable and environmentally friendly aquafeed products is further propelling the growth of the Vietnam aquafeed market. Additionally, the rising concerns regarding the environmental impact of aquaculture and the bolstering need to ensure the long-term sustainability of fish farming are also contributing to the market growth. Furthermore, manufacturers are increasingly focusing on developing feeds that reduce the ecological footprint by incorporating alternative protein sources such as algae and insect meal, which is offering significant growth opportunities to the overall market. Additionally, advances in feed formulation technology and the growing emphasis on research and development to create nutrient-efficient and cost-effective feeds are projected to drive the growth of the Vietnam aquafeed market in the coming years.
Leading Companies Operating in the Vietnam Aquafeed Industry:
- Cargill Inc.
- Charoen Pokphand Foods PCL
- De Heus Animal Nutrition
- GreenFeed Vietnam Corp.
- Uni President Vietnam
Key Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Ingredient:
- 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
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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