The Vietnam aquatic feed market is predicted to really take off, growing at an impressive rate (we're talking a significant CAGR!) between 2024 and 2028. What's fueling this? The booming seafood market in Vietnam, plain and simple. Think of it multiplying over the next five years, continuing the trend we've seen recently. Aquaculture is huge here, basically the main source of food, and that's pushing the market sky-high. People's diets are changing too, and that's definitely impacting how they raise fish. Plus, Vietnam is a major exporter of seafood, so that's giving the market another big boost. However, things aren't completely smooth sailing. Stricter quality rules in countries like Japan and Russia (who import a lot of our stuff) could slow things down a bit.
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.
The Vietnam aquatic feed market is broken down into categories like feed type, what the feed is made of (ingredient), its form, and where it's distributed. When we look at feed type, it gets even more specificwe're talking about feed for fish, mollusks, crustaceans (like shrimps), and even "others." Right now, fish feed is the big player, growing the fastest. Why? Because more and more people in Vietnam are enjoying fish as part of their diet. Plus, fish are in high demand for aquaculture and fisheries, which means there's a real need to raise more fish. All of this is fueling the growth of the Vietnam aquatic feed market in the years to come. Think about itraising fish has moved away from old-school farming and is now more reliant on specialized feed, which is a good thing for the market.
The beginning of 2022 wasn't easy, was it? The pandemic hit hard, and practically every country went into lockdown. Vietnam was no exception, with a complete lockdown in the first half of the year that really hurt FMCG sales in stores. And to make things worse, seafood exports were completely stopped because of the virus. Thankfully, the market bounced back by shifting to online retail. Things are looking up, and honestly, we expect a real boost in the next five years (2024-2028) because the threat of the pandemic is largely under control.
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 Duong, 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 Duong, 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
- Vietnam Aquatic Feed Market, By Form
- Vietnam Aquatic Feed Market, By Region
- Northern
- Central
- Southern
