PUBLISHER: IMARC | PRODUCT CODE: 1467650
PUBLISHER: IMARC | PRODUCT CODE: 1467650
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.
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.
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.
Grains and Cereals
Soybean
Fish Meal
Additives
Fish Oil
Others
Amino Acids
Antibiotics
Vitamins
Feed Acidifiers
Others
Pellets
Extruded
Powdered
Liquid
Catfish
Shrimp
Mollusks
Tilapia
Carps
Salmon
Others
Direct to Farmers
Local Wholesalers
Exports
Others
Southern Vietnam
Northern Vietnam
Central Vietnam
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.