According to IMARC Group’s latest report, titled "Vietnam Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the Vietnam aquaculture market size reached 4.9 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 6.2 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028.
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Aquaculture, also known as aquafarming, is the practice of cultivating aquatic animals and plants in controlled environments, such as tanks, ponds, and ocean cages. It offers several advantages, such as meeting the escalating demand for seafood while reducing the pressure on wild fish populations, producing rare species, and reducing the impact on natural ecosystems. When compared with traditional fishing practices, aquaculture is more efficient and sustainable. Currently, freshwater fish, marine fish, shellfish, and seaweed are some of the common types of aquaculture farming. In Vietnam, the aquaculture industry has become increasingly important due to the depletion of fish stocks and surging demand for seafood.
Vietnam Aquaculture Market Trends:
The primary factor driving the aquaculture market in Vietnam is the availability of a favorable climate and geographical location for aquaculture activities. Additionally, the Politics of Vietnam is undertaking several initiatives aimed at promoting the aquaculture industry, which, in turn, is boosting the market growth. Moreover, the rising awareness among consumers about the health benefits of seafood and sustainable farming practices, supported by burgeoning investments in research and development (R&D) of new aquaculture technologies and practices, are providing an impetus to the market growth. Apart from this, key market players are investing in advanced technology in aquaculture practices, such as the use of recirculating aquaculture systems, to increase production and profitability, which is creating a positive outlook for the market in the country.
Vietnam Aquaculture Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Vietnam aquaculture market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
- 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
Key Market Segmentation:
The report has segmented the Vietnam aquaculture market on the basis of product type, environment and distribution channel.
Breakup by Product Type
- Freshwater Fish
- Crustaceans
- Mollusks
- Others
Breakup by Environment
- Fresh water
- Brackish water
- Marine water
Breakup by Distribution Channel
- Traditional Retail
- Specialized Retailers
- Supermarkets and Hypermarkets
- Online Retailers
- Others
Breakup by Region
- Southern Region
- Northern Region
- Central Region
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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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