Vietnam Aquaculture Market to Grow at 5.86% CAGR through 2030F
Increasing adoption of sustainable practices and
technological advancements in aquaculture practices is expected to drive the
Vietnam Aquaculture Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “Vietnam
Aquaculture Market – By Region, Competition Forecast
& Opportunities, 2030F”, the Vietnam Aquaculture Market stood at USD
5.46 Million in 2024 and is expected to reach USD 6.48 Million by 2030 with a
CAGR of 5.86% during the forecast period. Several factors are propelling the
growth of the aquaculture market in Vietnam. Key drivers include the favorable
climatic conditions for aquaculture, rising demand for seafood both locally and
internationally, and government support and initiatives aimed at the
sustainable development of the sector. Furthermore, advancements in aquaculture technologies
and fish farming practices have significantly boosted productivity, while the
growing trend of organic aquaculture is opening new avenues for market
expansion.
The Vietnam aquaculture sector represents a vital part
of the country's economy, boasting significant growth over the past few
decades. This development has been fueled by the country's favorable conditions
for aquaculture, including a long coastline, vast water resources, and abundant
labor supply. As of 2020, Vietnam's aquaculture production was estimated
at over 4.5 million tons, with a value of approximately $5 billion. This strong
performance indicates the vast potential of the market, with key products
including shrimp, pangasius, and tilapia.
The shrimp industry, in particular, holds a dominant
position in the country's aquaculture landscape. Vietnam is currently the
third-largest exporter of shrimp globally, with products being shipped to over
90 countries worldwide. The success of the shrimp industry can be attributed to
advancements in farming technology, improved shrimp breeds, and an increased
focus on sustainable farming practices. The pangasius sector, on the other
hand, has faced multiple challenges in recent years, including negative press
related to product quality and environmental concerns. Despite these issues,
the industry maintains a robust position in the market, bolstered by strong
domestic consumption and export demand. The tilapia industry is still in its
infancy compared to the shrimp and pangasius sectors. However, it has shown
promising growth, driven by increasing domestic consumption and the potential
for export to international markets.
While the Vietnam aquaculture market demonstrates
impressive potential, it also faces several challenges. These include
environmental concerns, a lack of high-quality seed and feed, and limited
access to credit for small-scale farmers.
However, the government has implemented various
measures to address these issues and promote the sustainable development of the
industry. These measures include stricter environmental regulations, the
promotion of technological innovation, and the provision of financial support
for small-scale farmers. Looking forward, the Vietnam aquaculture market is
expected to continue its upward trajectory, driven by increasing global demand
for seafood, technological advancements, and government support. However, the industry
must navigate the challenges ahead effectively to maintain its growth and
sustainability in the long run.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Aquaculture Market”
The Vietnam Aquaculture Market is segmented into
rearing product type, culture, species, culture system, production type,
distribution channel, regional distribution, and company
Based on Rearing Product Type, The chemicals segment is set to be the fastest-growing in the Vietnam Aquaculture Market, driven by its crucial role in maintaining water quality and supporting the health of aquatic species. Chemicals are extensively used to control harmful microorganisms, prevent diseases, and provide essential nutrients to ensure the optimal growth and well-being of various aquaculture species. These chemical solutions help create a healthy environment for aquaculture, which is key to increasing production and sustaining the industry.
Advancements in research and development continue to introduce innovative chemical solutions tailored to the unique challenges of aquaculture. These innovations, such as specialized water treatments and disease management chemicals, help aquaculture farms address issues such as water contamination and pathogen outbreaks more effectively. As a result, the demand for chemicals in Vietnam's aquaculture industry continues to rise, making it the fastest-growing segment in the market. With ongoing technological progress, this segment is poised for further expansion, supporting sustainable aquaculture practices and fostering growth in the sector.
Major companies operating in the Vietnam
Aquaculture Market are:
- Ca Mau Seafood Processing & Service Joint
Stock Corporation
- Minh Phu Seafood Corporation
- Vinh Hoan Corporation
- Quoc Viet Co. Ltd.
- Dong Nam Seafood Corporation
- Phuong Dong Seafood Co., Ltd.
- SOC Trang Seafood Joint Stock Company
- Thuan Hung Fisheries Company Ltd.
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“The future of the Vietnam Aquaculture Market appears
to be highly promising, as it presents numerous opportunities for significant
growth. This positive outlook stems from several factors. There is an
ever-increasing demand for seafood products, both within the country and
internationally. Vietnam's rich biodiversity and vast coastline provide an
abundant resource for aquaculture, allowing for the cultivation of a wide
variety of high-quality seafood. Moreover, the country's favorable
environmental conditions, including pristine water bodies and optimal climate,
create an ideal habitat for aquaculture operations. Additionally, the
government of Vietnam is actively promoting sustainable practices and investing
in research and development to improve the efficiency and productivity of the
aquaculture sector. By implementing innovative technologies and adopting best
practices, Vietnam aims to enhance the competitiveness of its aquaculture
industry on a global scale. With these combined factors, it is clear that the
Vietnam Aquaculture Market is not only poised for a prosperous future but also
has the potential to become a leading player in the global seafood industry.,”
said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Vietnam Aquaculture Market By Rearing
Product Type (Equipment, Chemicals, Fertilizers, Pharmaceuticals), By Culture
(Freshwater, Marine, Brackish Water), By Species (Aquatic Animals and Aquatic
Plants), By Culture System (Extensive, Semi-Extensive, Intensive), By
Production Type (Small Scale, Medium and Large Scale), By Distribution Channel
(Traditional Retail, Supermarkets & Hypermarkets, Specialized Retailers,
Online Stores, Others), By Region, Competition, Forecast &
Opportunities, 2020-2030F”, has
evaluated the future growth potential of Vietnam Aquaculture Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam Aquaculture Market.
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