According to the latest report by IMARC Group, title “Vietnam Aquaculture Market Size: Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026; the Vietnam aquaculture market exhibited moderate growth during 2015-2020. Aquaculture is the cultivation or rearing of aquatic plants and animals for food. It involves the breeding and harvesting of numerous aquatic creatures, such as fish, algae, shrimp, shellfish, etc., in water-based environments. Some common types of aquacultures are fish farming, oyster farming, shrimp farming, mariculture, algaculture, etc. Aquaculture systems are diversified according to geographical and climatic conditions. Vietnam is among the most suitable countries for the seafood industry, on account of its long coastline and vast Economic Exclusion Zone (EEZ). Currently, it is the fourth-largest seafood producer from aquaculture, behind China, Indonesia, and India.
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The increasing consumption of fish, owing to its several benefits, including high nutritional value, ease of digestion, cost-effectiveness, etc., when compared to other protein sources such as beef or pork, is primarily driving Vietnam aquaculture market. In line with this, the shifting consumer preferences towards fish in diets, since it is widely available and easy to cook, are further catalyzing the market growth. Moreover, the inflating export demand for aquaculture products is augmenting the regional market. Besides this, the elevating popularity of shrimp, which presently accounts for around half of the total exports, is also stimulating the market growth. Furthermore, the escalating prevalence of sustainable cultivation systems, which are aimed at not disrupting the ecosystem, protecting biodiversity, reducing pollution, etc., is anticipated to fuel the Vietnam aquaculture market over the forecasted period. Driven by a strong domestic consumption and increasing exports, the Vietnam aquaculture market is expected to reach a volume of around 6 Million Tons by 2026, exhibiting moderate growth during the forecast period (2021-2026).
Competitive Landscape:
- Ca Mau Seafood Processing & Service Joint Stock Corporation
- Hung Vuong Corporation
- Minh Phu seafood corporation
- Vinh Hoan corporation
- Quoc Viet seafood
- Dong Nam Seafood
- Phuong Dong Seafood
- Ngoc Sinh seafood
- SOC Trang Seafood Joint Stock Company
- Thuan Hung Fisheries Company Ltd
Market Breakup by Product Type
- Freshwater fish
- Crustaceans
- mollusks
- others
Market Breakup by Environment
- Fresh water
- Brackish water
- Marine water
Market Breakup by Distribution Channel
- Traditional retail
- Specialized retailers
- Supermarkets and hypermarkets
- Online retailers
- Others
Market Breakup by Region
- Northern
- Central
- Southern regions.
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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