According to IMARC Group’s latest report, titled “Vietnam Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the Vietnam aquafeed market size reached 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 represents a compounded meal that is used to feed numerous aquatic animals, including fish, crustaceans, mollusks, etc. It is usually prepared from a mixture of additives, supplements, and raw materials, such as soybean meal, fishmeal, fish oil, carp, etc., depending on the age and requirement of the species. In line with this, aquafeed offers high nutritional value, growth-promoting, and immune-resistant benefits to aquatic animals. It also minimizes the effects of stress, decreases susceptibility to diseases, enhances immunity among sea animals, etc.
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Vietnam Aquafeed Market Trends:
The widespread adoption of seafood, owing to the inflating income levels of individuals, is primarily driving the Vietnam aquafeed market. Furthermore, the escalating demand for shrimps, pangasius, tuna, marine fish, etc., that act as a source of protein as compared to cattle and poultry, on account of their low-fat and high protein as well as vitamin content, is bolstering the market growth. Apart from this, the growing consumer awareness towards several associated benefits of using modern feeding practices, the increasing exports, and the launch of favorable policies by government bodies across the country for making farming activities more consumer-oriented, environment-friendly, and economically viable by providing incentives and subsidies are acting as significant growth-inducing factors. Moreover, the introduction of new key market players, the development of inter-sectional planning tools to manage fisheries better, and the expanding production capacities are further catalyzing the market growth. Besides this, continuous advancements in feed manufacturing technology and the emerging trend of pet humanization are projected to fuel the Vietnam aquafeed market in the coming years.
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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