PUBLISHER: IMARC | PRODUCT CODE: 1753913
PUBLISHER: IMARC | PRODUCT CODE: 1753913
The Vietnam aquafeed market size reached USD 375.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 779.0 Million by 2033, exhibiting a growth rate (CAGR) of 8.4% during 2025-2033.
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.
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.