Vietnam seafood market is
expected to grow with an impressive CAGR in the forecast period, 2023-2027, on
the basis of increasing consumption by the foreign and domestic population. The
high nutritional value of fishes, shrimps, and other aquatic animals enhances
the demand for seafood in the regular diet by the population of the country.
Thus, supporting the growth of the market in the next five years. Moreover,
seafood is preferred over other meat products due to ample protein content as
compared to beef and pork. 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. Also, 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.
Vietnam seafood market is
segmented by product, process, distribution channel, end-user, and regional
distribution. Based on product, the market is further fragmented into fishes,
shrimp, oysters, snails, and others. Fishes dominate the market segment due to
their highest demand by the population. Fishes have better nutritional values
as compared to other seafood, thereby influencing the growth of the Vietnam
seafood market. Shrimps and snails are also growing in demand owing to the
growth of the various cuisine options and innovative recipes employed by the
traditional ways.
During the first quarter of
2021, 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, 2023-2027 since the conditions and threat
of the pandemic are under control to large extents.
Some of the top players in
the Vietnam seafood market are, Ca Mau Seafood Processing & Service Joint
Stock Corporation, Hung Vuong Corporation, Minh Phu Seafood Corporation, Vinh
Hoan Corporation, Quoc Viet Seafood Co. Ltd., Dong Nam Seafood Corp, Phuong Dong
Seafood, Ngoc Sinh Seafood, SOC Trang Seafood Joint Stock Company, Thuan Hung
Fisheries Company Ltd, among others. The companies involve themselves in
research and development for the methods of better quality and various quality
analysis tests to provide better quality seafood.
Objective
of the Study:
- To analyze the historical
growth of the market size of Vietnam seafood market from 2017 to 2020.
- To estimate and forecast the market size of Vietnam
seafood market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast Vietnam seafood market based on product, process, distribution channel, end user,
and regional distribution.
- To identify dominant region or segment in the Vietnam
seafood market.
- To identify drivers and challenges for Vietnam seafood
market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Vietnam
seafood market.
- To identify and analyze
the profile of leading players operating in Vietnam seafood market.
- To identify key sustainable strategies adopted
by market players in Vietnam seafood market.
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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 seafood 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:
- Seafood manufacturers, and other stakeholders
- Distributers and suppliers of seafoods 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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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F
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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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·
Product
·
Process
·
Distribution Channel
·
End User
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Regional scope
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Northern; Central; Southern
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Key companies profiled
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Ca Mau Seafood Processing & Service Joint Stock
Corporation, Hung Vuong Corporation, Minh
Phu Seafood Corporation, Vinh Hoan Corporation, Quoc Viet Seafood Co. Ltd.,
Dong Nam Seafood Corp, Phuong Dong Seafood, Ngoc Sinh Seafood, SOC Trang
Seafood Joint Stock Company, Thuan Hung Fisheries Company Ltd.
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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 seafood market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Vietnam Seafood Market, By Product:
- Fishes
- Shrimps
- Oysters
- Snails
- Others
- Vietnam Seafood Market, By Process:
o Fresh
o Frozen
- Vietnam Seafood Market, By Distribution
Channel:
o Supermarket/Hypermarket
o Traditional Retails
o Specialized Retails
o Online Retails
o Others
- Vietnam Seafood Market, By End
User:
o Household
o PBCL {Pubs, Bar, Cafes, and
Lounges}
o QSR {Quick Service Restaurants}
o Others
- Vietnam Seafood Market, By Region:
- Northern
- Central
- Southern
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam seafood 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 Seafood 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]