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.
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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.
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers, suppliers, and service providers
across the country. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the manufactures which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the manufactures,
distribution channels and presence of all major players across the country.
TechSci Research calculated the market
size of Vietnam aquatic feed market using a bottom-up approach,
wherein data for various end-user segments was recorded and forecast for the
future years. TechSci Research sourced these values from the industry experts
and company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
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.
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Attribute
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Details
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Base Year
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2022
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Historical Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Feed Type
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Ingredient
·
Form
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Regional scope
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Northern; Central; Southern
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Key companies profiled
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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.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Vietnam aquatic
feed market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Vietnam Aquatic Feed Market, By Feed Type:
- Fish Feed
- Mollusks Feed
- Crustaceans {Shrimps} Feed
- Others Feed
- Vietnam Aquatic Feed Market, By Ingredient:
o Grain and Cereals
o Soybean
o Fish meal
o Additives
o Fish Oil
o
Others
- Vietnam Aquatic Feed Market, By Form:
o Pellets
o Extruded
o Powdered
o Liquid
- Vietnam Aquatic Feed Market, By Region:
- Northern
- Central
- Southern
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam aquatic feed market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Vietnam Aquatic Feed Market is an upcoming report to be released soon.
If you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]