According to the latest report by IMARC Group, titled “Vietnam Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027.’ the Vietnam aquaculture market reached a volume of 4.8 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 6.0 Million Ton by 2027, exhibiting a CAGR of 3.91% during 2022-2027. Aquaculture, or aquafarming, is a technique used for breeding, rearing, and harvesting aquatic animals or plants in various types of controlled environments. It helps in restoring endangered marine species, enhancing the wild stock population, and establishing aquariums. This, in turn, assists in balancing the ecosystem and ensuring the large production and supply of highly nutritious seafood products. Some of the important seafood products include tuna, shrimp, marine fish, and pangasius. At present, aquaculture is categorized into varying types, such as mariculture, fish farming, open-net pens, and cage systems.
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Vietnam Aquaculture Market Trends:
The increasing demand for organic seafood products on account of rising consumer awareness regarding its various health benefits and nutritional value is one of the prime factors driving the Vietnam aquaculture market. In line with this, the favorable initiatives undertaken by the Government of Vietnam (GoV) for investing in sustainable aquafarming methods and semi-intensive shrimp farming projects for promoting the growth of black tiger shrimps are propelling the market growth. Apart from this, the extensive utilization of fish oils across various industrial verticals, such as healthcare and pharmaceuticals, for manufacturing dietary supplements is creating a positive outlook for the market.
Competitive Landscape:
- Ca Mau Seafood Processing & Service Joint Stock Corporation
- Hung Vuong Corporation
- Minh Phu seafood corporation
- Vinh Hoan corporation
- Quoc Viet seafood
- Dong Nam Seafood
- Phuong Dong Seafood
- Ngoc Sinh seafood
- Soc Trang Seafood Joint Stock Company
- Thuan Hung Fisheries Company Ltd
Market Breakup by Product Type
- Freshwater fish
- Crustaceans
- mollusks
- others
Market Breakup by Environment
- Fresh water
- Brackish water
- Marine water
Market Breakup by Distribution Channel
- Traditional retail
- Specialized retailers
- Supermarkets and hypermarkets
- Online retailers
- Others
Market Breakup by Region
- Northern
- Central
- Southern regions.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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