Overview Request Sample Pages Request Customization Download PDF
You are viewing: Vietnam Aquafeed Market analysis
Part of: Aquafeed Market (Global)

The Vietnam Aquafeed Market was valued at $4177.7 Million in 2024 and projected to reach to $6546.6 Million by 2029, representing a compound annual growth rate of 9.4%. Vietnam's aquafeed market is poised for sustained growth through 2029, driven by expanding aquaculture operations, rising domestic consumption, and strong export demand for shrimp and fish products.

Vietnam Aquafeed Market (2024-2029) : Size and Share
logo-mobile
CAGR of
cagr-Chart
USD Million
MARKET SNAPSHOT
Market Size in USD 26.32 MN
Market Forecast in
CAGR
Forecast Period
Units Considered Value (USD MN)

Vietnam Aquafeed Market Trends and Insights

  • This accelerated growth in Vietnam significantly outpaces the global aquafeed market CAGR of 7.4%, reflecting the country's strategic position as a leading aquaculture producer in Asia Pacific.
  • Vietnam's thriving shrimp and fish farming sectors are driving substantial demand for specialized aquafeed formulations. The aquafeed market in Vietnam is propelled by rising aquaculture production volumes, increasing adoption of premium feed products, and growing investments in sustainable farming practices.
  • Vietnam's aquaculture industry, particularly shrimp farming in the Mekong Delta, relies heavily on high-quality aquafeed to optimize yield and reduce environmental impact.
  • Between 2024 and 2029, Vietnam is expected to see intensified competition among feed manufacturers and greater emphasis on nutritionally optimized products tailored to local species and farming conditions. Vietnam's market growth is underpinned by expanding export demand, rising domestic consumption, and government support for aquaculture modernization.
  • The country's strategic geographic location and established supply chains position Vietnam as a critical hub for aquafeed innovation and distribution across Southeast Asia..

Key Market Statistics

  • CAGR (2024-2029) 9.4% CAGR
  • Market Size, 2024 ~USD 4177.7 Million
  • Forecast, 2029 ~USD 6546.6 Million
  • Country Vietnam

Vietnam Aquafeed Market Overview

Market Leadership in Asia Pacific :

Vietnam stands as a leading aquaculture producer in the Asia Pacific region, with its aquafeed market growing at 9.4% CAGR, significantly outpacing the global rate of 7.4%, demonstrating the country's strategic importance in regional aquaculture.

Rapid Market Expansion :

Vietnam's aquafeed market is valued at USD 4,177.7 million in 2024 and is projected to reach USD 6,546.6 million by 2029, representing a 56.7% increase over five years driven by rising aquaculture production and export demand.

Shrimp and Fish Production Growth :

Vietnam's thriving shrimp and catfish farming industries are primary drivers of aquafeed demand, with increasing production volumes and export-oriented operations requiring high-quality specialized feed formulations for optimal yield.

Export-Driven Market Dynamics :

As a major exporter of aquaculture products globally, Vietnam's aquafeed market is bolstered by international demand for sustainably sourced seafood, creating opportunities for premium feed manufacturers and ingredient suppliers.

Vietnam Aquafeed Market Dynamics

  • Government support for sustainable aquaculture practices and technological advancements in feed formulation are expected to enhance productivity and profitability across the sector.
  • The country's competitive advantage in regional aquaculture positions it favorably for continued market expansion. Investment in feed manufacturing infrastructure, coupled with increasing adoption of premium and specialized feed products, will further accelerate market growth.
  • Rising awareness of feed efficiency and environmental sustainability among Vietnamese aquaculture producers is driving demand for innovative feed solutions, creating significant opportunities for market participants and technology providers throughout the forecast period..

Related Ecosystem

Feed And Animal Nutrition

Top Technologies
  • Animal-Based Sealants
  • Camera Systems
  • Lactic Acid
  • Tricalcium Phosphate
  • Citric Acid
Top Companies
  • AZELIS HOLDINGS SA
  • NOVUS INTERNATIONAL, INC.
  • Feedone Co., Ltd.
  • NOSAN CORPORATION
  • Mitsui & Co., Ltd.

    Key Takeaways

    • Vietnam's aquafeed market is projected to grow from USD 4,177.7 million in 2024 to USD 6,546.6 million by 2029 at a 9.4% CAGR, outpacing global growth rates.
    • Vietnam's shrimp and fish farming sectors are the primary drivers of aquafeed demand, with the Mekong Delta serving as a critical production hub.
    • Premium and sustainable aquafeed products are gaining traction in Vietnam as farmers prioritize yield optimization and environmental compliance.
    • Vietnam's established aquaculture supply chains and export-oriented industry position the country as a regional leader in aquafeed innovation and adoption.

    Aquafeed Market Report Scope

    Report Metric Details
    Base Year 2024
    Fastest Growing Segment CRUSTACEANS (Species)
    Forecast Period 2024–2029
    Growth Rate CAGR of 7.4% from 2024 to 2029
    Largest Segment DRY (Form)
    Market Size Base Year (Billions) ~USD 58.92 (2024)
    Revenue Forecast (Billions) ~USD 84.2 (2029)
    Segments Covered Ingredient, Sub-Type, Species, Lifecycle, Form, Additive

    Vietnam Aquafeed Market Report Segmentation

    6 segment dimensions are covered across the global market.

    By Ingredient

    • Additives
    • Corn
    • Fish Meal
    • Fish Oil
    • Other Ingredients
    • Soybean

    By Sub-Type

    • Amino Acids
    • Antibiotics
    • Antioxidants
    • Carp
    • Crabs
    • Enzymes
    • Krill
    • Mussels
    • Other Additives
    • Other Crustaceans
    • Other Fish Species
    • Other Mollusks
    • Oysters
    • Prebiotics & Probiotics
    • Salmon
    • Shrimps
    • Tilapia
    • Trout
    • Vitamins & Minerals

    By Species

    • Crustaceans
    • Fish
    • Mollusks
    • Other Species

    By Lifecycle

    • Brooder
    • Finisher
    • Grower
    • Starter

    By Form

    • Dry
    • Moist
    • Wet

    By Additive

    • Amino Acids
    • Antibiotics
    • Antioxidants
    • Enzymes
    • Other Additives
    • Prebiotics & Probiotics
    • Vitamins & Minerals

    Target Audience

    • Aquafeed Manufacturers & Producers : Vietnamese and international feed manufacturers need detailed market sizing and growth forecasts to plan production capacity expansion, optimize formulation strategies for local species, and identify distribution opportunities in Vietnam's high-growth aquafeed sector.
    • Aquaculture Farm Operators : Shrimp and fish farm operators require market intelligence to benchmark feed costs, evaluate supplier options, understand industry trends, and make informed procurement decisions to improve operational efficiency and profitability.
    • Feed Ingredient & Raw Material Suppliers : Ingredient suppliers and commodity traders need Vietnam-specific demand forecasts to plan sourcing strategies, optimize inventory levels, and identify growth opportunities in supplying raw materials to the expanding Vietnamese aquafeed manufacturing base.
    • Investment & Private Equity Firms : Investors evaluating opportunities in Vietnam's agriculture and aquaculture sectors require validated market data, growth projections, and competitive landscape analysis to assess investment returns and identify acquisition or partnership targets.
    • Government & Trade Organizations : Vietnamese government agencies, trade associations, and export promotion bodies need market research to develop industry policies, support strategic planning, and promote Vietnam's aquafeed sector competitiveness in regional and global markets.

    Key Companies in the Vietnam Aquafeed Market

    CompanyHQOwnershipStrongest segments
    SOJITZ CORPORATIONJapanPublic CompanyAutomotive, industrial machinery, and parts,Energy, power, and infrastructure (including IPP/IWPP),Metals, mineral resources, and recycling,
    ORIGIN ENTERPRISES PLCIrelandPublic CompanyAgronomy services and digital tools,Seed, nutrition, and fertilizers,Crop protection and biologicals,
    MITSUI & CO., LTD.JapanPublic CompanyEnergy (LNG, oil, fuels, carbon solutions),Mobility, Digital & Infrastructure,Chemicals (gas, basic, performance monomers, materials),
    FEED ONE CO., LTD.JapanPublic CompanyPoultry Feed (layers, breeders, broilers, quail),Pig Feed (nursery, grow-finish, sow diets),Cattle Feed (dairy, beef, Wagyu),
    NOSAN CORPORATIONJapanPrivate CompanyPoultry feed and value-added egg business,Swine, dairy, and beef cattle feed,Aquaculture feed (fish, shrimp, shellfish, hatchery),
    CERMAQ GROUP ASNorwayPrivate CompanyAtlantic salmon,Trout,Coho and other salmonids,
    ADMUnited StatesPublic CompanyAg Services and Oilseeds,Carbohydrate Solutions,Nutrition,
    CARGILL, INCORPORATEDUnited StatesPrivate CompanyGrains & Oilseeds Origination, Trading, Processing,Animal Nutrition & Feed (including Aquaculture),Meat & Poultry Products,
    DSM-FIRMENICHSwitzerlandPublic CompanyPerfumery & Beauty,Taste, Texture & Health,Health, Nutrition & Care,
    NUTRECONetherlandsPrivate CompanyAquaculture feeds and functional aquafeed,Premixes, specialties, and feed additives for land animals,Advisory, technology solutions, and nutritional services,
    RIDLEY CORPORATION LIMITEDAustraliaPublic CompanyPackaged Feeds and Ingredients,Bulk Stockfeeds,Animal Proteins and Oils, Commodities, and Specialty Distribution,
    PURINA ANIMAL NUTRITION LLCUnited StatesPrivate CompanyDairy and beef cattle feed,Equine and companion livestock feed,Swine and poultry (flock) feed,
    ADISSEOChinaPublic CompanyMethionine & sulfur-based essentials (Rhodimet, AdiSodium),Vitamins & antioxidants (Microvit range, health by nutrition),Mycotoxin management & palatability (Unike, Toxy-Nil, Krave AP, Optisweet),
    AVANTI FEEDS LIMITEDIndiaPublic CompanyShrimp Feed,Shrimp Hatchery (seeds),Power Generation,
    THE WATERBASE LIMITEDIndiaPublic CompanyShrimp Feeds (P. vannamei, P. monodon, scampi),Processed / Frozen Shrimp,Others (hatchery, farming, ancillary),
    JAPFA LTDSingaporePrivate CompanyPoultry Feed (Comfeed, Benefeed),Commercial Farms & Live Operations (Poultry, Swine),Processed & Packaged Foods (So Good, So Nice),
    CHAROEN POKPHAND FOODS PCLThailandPublic CompanyLivestock (poultry, swine, ducks and related products),Aquaculture (shrimp, fish, aquatic feed and seafood products),Animal feed and feed raw materials,
    BIOMAR GROUPDenmarkPublic CompanySalmon feed,Shrimp feed,Selected species feed (sea bass, sea bream, trout, turbot, sturgeon, others),

    SOJITZ CORPORATION

    Sojitz Corporation is a Japanese public company founded in 1862 with 26,789 employees. It operates as a diversified trading and investment company with global operations across multiple sectors.

    ORIGIN ENTERPRISES PLC

    Origin Enterprises PLC is an Irish public company founded in 2006 with 2,997 employees. The company operates in the agribusiness sector providing services and products to the agricultural industry.

    MITSUI & CO., LTD.

    Mitsui & Co., Ltd. is a Japanese public company founded in 1947 with 55,463 employees. It is a major global trading and investment corporation operating across diverse business segments including energy, metals, and chemicals.

    FEED ONE CO., LTD.

    Feed One Co., Ltd. is a Japanese private company founded in 2014 with 935 employees. The company operates in the animal feed and nutrition sector.

    NOSAN CORPORATION

    Nosan Corporation is a Japanese private company founded in 1931 with 1,079 employees. The company operates in the agricultural and food-related sectors.

    CERMAQ GROUP AS

    Cermaq Group AS is a Norwegian private company founded in 1994 with 4,361 employees. The company is a major operator in the aquaculture and fish farming industry.

    ADM

    ADM (Archer Daniels Midland) is a United States public company founded in 1902 with 41,147 employees. It is a global leader in agricultural processing and food ingredient manufacturing.

    CARGILL, INCORPORATED

    Cargill, Incorporated is a United States private company founded in 1865 with 155,000 employees. It is one of the world's largest privately held corporations operating in agriculture, food processing, and related industries.

    DSM-FIRMENICH

    DSM-Firmenich is a Swiss public company founded in 1902 with 26,873 employees. The company specializes in nutrition, health, and sustainable living solutions for various industries.

    NUTRECO

    Nutreco is a Netherlands-based private company with 9,217 employees. The company operates in the animal nutrition and aquaculture feed sectors.

    RIDLEY CORPORATION LIMITED

    Ridley Corporation Limited is an Australian public company founded in 1987 with 613 employees. The company operates in the animal feed and nutrition industry.

    PURINA ANIMAL NUTRITION LLC

    Purina Animal Nutrition LLC is a United States private company founded in 1894 with 8,000 employees. The company is a leading manufacturer of animal nutrition and pet food products.

    ADISSEO

    Adisseo is a Chinese public company founded in 1939 with 3,295 employees. The company specializes in animal nutrition additives and feed ingredients.

    AVANTI FEEDS LIMITED

    Avanti Feeds Limited is an Indian public company founded in 1993 with 1,294 employees. The company is a major producer of aquaculture and animal feed products.

    THE WATERBASE LIMITED

    The Waterbase Limited is an Indian public company founded in 1987 with 226 employees. The company operates in the aquaculture and aquatic animal nutrition sector.

    JAPFA LTD

    Japfa Ltd is a Singapore-based private company founded in 1971 with 37,000 employees. The company is a major integrated agribusiness operator across Southeast Asia.

    CHAROEN POKPHAND FOODS PCL

    Charoen Pokphand Foods PCL is a Thai public company founded in 1978 with 73,941 employees. It is a leading agribusiness and food production company operating across multiple segments.

    BIOMAR GROUP

    BioMar Group is a Danish public company founded in 1962 with 1,742 employees. The company is a global leader in aquaculture and fish feed production.

    Reasons to Buy this Report

    • Market Size & Growth Validation : Obtain precise market valuation data for Vietnam's aquafeed sector with verified 2024 baseline (USD 4,177.7M) and 2029 forecast (USD 6,546.6M), enabling accurate business planning and investment decisions specific to this high-growth market.
    • Competitive Positioning Intelligence : Understand Vietnam's 9.4% CAGR advantage over global 7.4% growth rate to identify competitive opportunities, benchmark performance against regional peers, and develop targeted market entry or expansion strategies in Asia Pacific's fastest-growing aquafeed market.
    • Sector-Specific Insights : Access detailed analysis of Vietnam's shrimp and catfish farming dynamics, export-driven demand patterns, and feed formulation requirements to tailor product offerings, optimize supply chain positioning, and capture market share in specialized aquafeed segments.
    • Investment & Partnership Opportunities : Identify high-potential investment targets, joint venture partners, and distribution channels within Vietnam's rapidly expanding aquafeed ecosystem, supported by comprehensive market data and growth trajectory analysis through 2029.
    • Strategic Decision-Making Support : Leverage country-specific market intelligence to support executive decision-making on market entry timing, capacity planning, product development priorities, and resource allocation for Vietnam-focused aquafeed business initiatives.

    Frequently asked questions

    What is the current size of Vietnam's aquafeed market?

    Vietnam's aquafeed market was valued at USD 4,177.7 million in 2024 and is expected to reach USD 6,546.6 million by 2029.

    What is the projected growth rate for Vietnam's aquafeed market?

    Vietnam's aquafeed market is projected to grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2029.

    Which aquaculture segments drive demand in Vietnam's aquafeed market?

    Shrimp farming and fish farming are the primary segments driving aquafeed demand in Vietnam, particularly in the Mekong Delta region.

    How does Vietnam's aquafeed market growth compare to global trends?

    Vietnam's aquafeed market CAGR of 9.4% significantly exceeds the global aquafeed market CAGR of 7.4%, reflecting Vietnam's strategic importance in Asia Pacific aquaculture.

    What factors are supporting growth in Vietnam's aquafeed market?

    Key growth drivers include rising aquaculture production volumes, adoption of premium feed products, government modernization initiatives, and increasing focus on sustainable farming practices in Vietnam.

    RESEARCH METHODOLOGY

    Get the Full Aquafeed Market Report

    Full forecast, segment splits, and company analysis for all Aquafeed Market.

    Download Sample Pages Buy Report

    METHODOLOGY

    Need a Tailored Report?

    Customize this report to your needs

    Get 10% FREE Customization

    Customize This Report
    Fact checked
    Cite this Research
    DMCA.com Protection Status