Vietnam aquatic feed market is expected to grow with an impressive CAGR in the forecast period, 2024-2028, on the backbone of the growing seafood market in Vietnam. The market is anticipated to grow multiple folds in the upcoming five years following the trend of the last five years. Aquaculture is the main source of food in the country that drives the market growth exponentially. There is a steady change in the food habits of the Vietnamese population that clearly influences the pisciculture practiced in the country. Moreover, the country is also involved as one of the largest exporters of aquatic animals as seafood in other countries, thereby driving the market growth in the upcoming future. Although, the market may face restraint due to quality assurance regulations that are changing in the importing countries like Japan and Russia.
Aquatic feed is the food source for all sorts of aquatic animals that are inbred by the suppliers for food, petting, and export purposes. The animals are bred and kept in a favorable, healthier environment and treated with aquatic feeds with additives. These aquatic animals for food can be categorized into fresh, frozen, and preserved. The government is aiding the supply of healthier feed for the animals to reduce the environmental effects on the aquatic animals.
Vietnam aquatic feed market is segmented by feed type, ingredient, form, and regional distribution. Based on feed type, the market is further fragmented into fish, mollusks, crustaceans {shrimps}, and others. Fish feed is the largest growing share in the market owing to its growth to the inclination of the population toward fish as seafood in Vietnam. Also, fishes are in high demand for aquaculture and fisheries products, thus creating a surge in the inbred number of fishes, thereby driving the growth of the Vietnam aquatic feed market in the forecast period. Pisciculture has shifted toward feed-based culture instead of traditional extensive farming methods, thereby influencing the market growth positively.
During the first quarter of 2022, the world suffered from the pandemic, and countries around the world observed lockdown. Vietnam also observed a complete lockdown during the first half of the year, and thus sales of FMCG products dropped from offline distribution channels. Moreover, the export of seafood was halted due to the spread of the virus. Soon, the market recovered by providing the products at online retails. The market has shown improvement and can be anticipated to show a boost in the upcoming five years, 2024-2028 since the conditions and threat of the pandemic are under control to large extents.
Some of the top players in the Vietnam aquatic feed market are Archer Daniels Midland Co., Cargill Vietnam Ltd., Nutreco International (Vietnam) Ltd., Basf Vietnam Co. Ltd - Chi Nhánh Bình Dương, Biomin Vietnam Co., Ltd, INVE Aquaculture Inc., ANVET PHARMA JSC, GreenFeed Vietnam Corp, De Heus Vietnam, Alltech Inc., among others. The companies involve themselves in research and development for the methods of better quality and various quality analysis tests to provide better products.
Objective of the Study
- To analyze the historical growth of the market size of Vietnam aquatic feed market from 2018 to 2021.
- To estimate and forecast the market size of Vietnam aquatic feed market from 2022 to 2028 and growth rate until 2028.
- To classify and forecast Vietnam aquatic feed market based on feed type, ingredient, form, and regional distribution.
- To identify dominant region or segment in the Vietnam aquatic feed market.
- To identify drivers and challenges for Vietnam aquatic feed market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam aquatic feed market.
- To identify and analyze the profile of leading players operating in Vietnam aquatic feed market.
- To identify key sustainable strategies adopted by market players in Vietnam aquatic feed market.
marketinsights Research performed both primary as well as exhaustive secondary research for this study. Initially, marketinsights Research sourced a list of manufacturers, suppliers, and service providers across the country. Subsequently, marketinsights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, marketinsights Research could include the manufactures which could not be identified due to the limitations of secondary research. marketinsights Research analyzed the manufactures, distribution channels and presence of all major players across the country.
marketinsights Research calculated the market size of Vietnam aquatic feed
Key Target Audience
- Aquatic feed manufacturers, and other stakeholders
- Distributers and suppliers of aquatic feeds and services and other stakeholders
- Organizations, forums and alliances related to system
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2022 |
| Historical Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Feed Type· Ingredient· Form |
| Regional scope | Northern; Central; Southern |
| Key companies profiled | Archer Daniels Midland Co., Cargill Vietnam Ltd., Nutreco International (Vietnam) Ltd., Basf Vietnam Co. Ltd - Chi Nhánh Bình Dương, Biomin Vietnam Co., Ltd, INVE Aquaculture Inc., ANVET PHARMA JSC, GreenFeed Vietnam Corp, De Heus Vietnam, Alltech Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, Vietnam aquatic feed
- Vietnam Aquatic Feed Market, By Feed Type
- Fish Feed
- Mollusks Feed
- Crustaceans {Shrimps} Feed
- Others Feed
- Vietnam Aquatic Feed Market, By Ingredient
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- Vietnam Aquatic Feed Market, By Form
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- Vietnam Aquatic Feed Market, By Region
- Northern
- Central
- Southern
