Vietnam Aquaculture Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Vietnam Aquaculture Market Growth

Aquaculture is the raising, breeding, and harvesting of aquatic organisms, such as fish, shellfish, and aquatic plants, in both inland as well as coastal areas.

The Vietnam aquaculture market dynamics and trends are driven by its role in ensuring a steady seafood supply, stimulating economic growth through job creation, and enhancing global food security. When managed properly, aquaculture can be environmentally sustainable and promote research and innovation in marine biology, improving breeding methods and environmental practices.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Vietnam Aquaculture Market Analysis

The Vietnam aquaculture industry growth is driven by the adoption of advanced fishery management tools globally. Currently, the country represents one of the leading producers of aquaculture products across the globe.

The Southern region represents the largest market for aquaculture in Vietnam, holding most of the market share. This is due to the availability of diversified culture systems, such as fence, pond, and cage culture of catfish and many indigenous species like snakehead fish, giant river prawn, and climbing perch driving the Vietnam aquaculture demand growth.

Vietnam Aquaculture Industry Outlook

According to the General Statistics Office of Vietnam, in 2011, the total aquaculture fish production from the Mekong River Delta was approximately 1.5 million metric tons (MT), while the Red River Delta contributed around 500,000 MT. By 2012, production in the Mekong River Delta had slightly increased to around 1.6 million MT, while the Red River Delta also saw a modest increase, reaching approximately 550,000 MT. The combined output from these two regions approached 2.2 million MT. Throughout the period from 2013 to 2016, the Mekong River Delta maintained its leadership position, with production steadily rising to approximately 1.7 million MT by 2016. The Red River Delta's output during this period remained relatively stable, hovering around 600,000 MT. The years 2017 and 2018 marked a significant phase of growth, with the Mekong River Delta’s production increasing to around 1.8 million MT in 2017 and further to nearly 2 million MT by 2018. The Red River Delta also experienced growth during this period, contributing approximately 650,000 MT in 2017 and approaching 700,000 MT in 2018. In 2019, the Mekong River Delta reached a production volume of approximately 2 million MT. The Red River Delta's production continued to rise, reaching about 700,000 MT. By 2020, preliminary figures suggest that the Mekong River Delta’s output stabilized at around 2.2 million MT, while the Red River Delta sustained its contribution of approximately 700,000 MT. This growth supports the Vietnam aquaculture market revenue, leveraging abundant natural resources and a substantial export presence, significantly benefiting the national economy.

As per the General Statistics Office of Vietnam, in 2011, the total shrimp production was around 450,000 metric tons (MT), with the Mekong River Delta contributing approximately 300,000 MT. The South-Central Coast added around 100,000 MT. The upward trajectory continued in 2019 and 2020, with production figures reaching approximately 850,000 MT by 2020. The Mekong River Delta was the primary driver of this growth, contributing around 750,000 MT. The South-Central Coast saw growth as it contributed around 180,000 MT, boosting the Vietnam aquaculture industry revenue, as the country excels as a leading shrimp exporter, benefiting from advantageous coastal conditions and advanced farming methods.

Vietnam’s extensive water bodies and favourable climate support diverse aquaculture species, driving the growth of the Vietnam aquaculture industry.

• The sector creates significant employment opportunities and contributes substantially to the local and national economy.
• Vietnam is a major exporter of seafood, enhancing its global market presence and generating foreign exchange.

Poor management practices can lead to water pollution and habitat degradation, impacting sustainability.

• Aquaculture operations are susceptible to diseases, which can affect production and lead to economic losses.
• Inadequate infrastructure can hinder the efficient production, processing, and distribution of aquaculture products.

Adoption of modern technologies can improve efficiency, sustainability, and product quality.

• Growing global demand for seafood presents opportunities for market expansion and diversification.
• Embracing eco-friendly practices and certifications can enhance Vietnam aquaculture market demand and long-term viability.

Changes in climate and water conditions can disrupt aquaculture operations and affect fish stocks.

• Stricter environmental regulations may increase operational costs and complexity.
• Intense competition from other seafood-exporting countries can pressure prices and impact Vietnam aquaculture market opportunities.

Key Players in the Vietnam Aquaculture Market and Their Key Initiatives

Hung Vuong Corporation

• Launched a new high-tech shrimp farming complex in Tien Giang. 
• Invested in sustainable aquaculture practices. 

Vinh Hoan Corporation

• Launched a new sustainable pangasius farming project in the Mekong Delta. 
• Announced a strategic partnership with Entobel to meet the growing demand of the Vietnam aquaculture market. 

Quoc Viet Co. Ltd

• Completed the PHIN project at the Nestle Trị An plant. 
• Launched a strategic partnership with local aquaculture cooperatives. 

Minh Phu

• Invested USD 17 million to expand its shrimp processing facilities and supply chain to capture the Vietnam aquaculture market opportunities. 
• Implemented a centralised water treatment system.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Vietnam Aquaculture Industry Segmentation

“Vietnam Aquaculture Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Breakup by Product Type

• Freshwater Fish
• Crustaceans
• Molluscs
• Others

Breakup by Environment

• Fresh Water
• Brackish Water
• Marine Water

Breakup by Distribution Channel

• Traditional Retail
• Specialised Retailers
• Supermarkets and Hypermarkets
• Online Retailers
• Others

Breakup by Region

• Southern
• Northern
• Central

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Vietnam Aquaculture Market Share

The growth of the Vietnam aquaculture industry is driven by the advantages of freshwater and brackish water systems. Freshwater aquaculture supports a variety of species, such as tilapia and catfish, with stable conditions that minimise disease and enhance yields, utilising abundant river and lake resources for sustainability.

Brackish water aquaculture, in contrast, focuses on high-value species like shrimp, offers economic efficiency with reduced infrastructure requirements, and adjusts easily to fluctuating salinity, enabling versatile production.

Leading Companies in the Vietnam Aquaculture Market

The companies specialise in seafood processing and export, focusing on pangasius and shrimp. They boost Vietnam’s global seafood presence with its quality, innovation, and sustainable production practices.

• Hung Vuong Corporation 
• Vinh Hoan Corporation 
• Quoc Viet Co. Ltd 
• Minh Phu