According to IMARC Group’s latest report, titled “Vietnam Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on the Vietnam aquafeed market share.
The Vietnam aquafeed market size reached a value of US$ 280.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 513.5 Million by 2027, exhibiting at a CAGR of 10.62% during 2022-2027.
Aquafeed is a compounded meal that is used to feed various aquatic animals like fish, crustaceans, and mollusks. It is produced from a mixture of additives, other supplements, and raw materials such as soybean meal, fishmeal, fish oil, and carp, depending on the age and requirement of the species. Aquafeed offers high nutritional value, growth-promoting, and immune-resistant benefits to aquatic animals. It also mitigates the effects of stress, decreases susceptibility to diseases, and enhances immunity among sea animals.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Vietnam Aquafeed Market Trends:
- Vietnam is one of the largest aquaculture markets, with a high production volume of shrimp, pangasius, tuna, and marine fish. The market is primarily driven by the growing consumption of seafood among individuals, owing to the inflating per capita income level.
- Fish is widely preferred as a source of protein compared to cattle and poultry due to its low-fat, and high protein and vitamin content. As a result, the has been a rising demand for high-quality seafood products, which is propelling the market growth.
- The market is also driven by the rising adoption of modern feeding practices and advancements in feed manufacturing technology. Furthermore, the introduction of new market players and the expansion of production capacities are also creating a positive outlook for the market.
Vietnam Aquafeed Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the vietnam aquafeed 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:
- Cargill Inc.
- De Heus LLC
- Proconco
- GreenFeed Vietnam Corp.
- Charoen Pokphand (CP)
- Uni President Vietnam, etc.
Key Market Segmentation:
The report has segmented the vietnam aquafeed market on the basis of ingredient, additives, product forms, end-user, distribution channel and region.
Breakup by Ingredient
- Grains and Cereals
- Soybean
- Fish Meal
- Additives
- Fish Oil
- Others
Breakup by Additives
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
Breakup by Product Forms
- Pellets
- Extruded
- Powdered
- Liquid
Breakup by End User
- Catfish
- Shrimp
- Mollusks
- Tilapia
- Carps
- Salmon
- Others
Breakup by Distribution Channel
- Direct to Farmers
- Local Wholesalers
- Exports
- Others
Breakup by Region
- Southern Vietnam
- Northern Vietnam
- Central Vietnam
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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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