Vietnam Seafood Market By Product (Fishes, Shrimps, Oysters, Snails, Others) By Process (Fresh, Frozen) By Distribution Channel (Supermarket/Hypermarket, Traditional Retails, Specialized Retails, Online Retails, Others) By End User (Household, PBCL {Pubs, Bar, Cafes, and Lounges}, QSR {Quick Service Restaurants}, Others) By Company By Region (Northern, Central, Southern) Competition Forecast & Opportunities, 2027

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.

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 sales@techsciresearch.com