Vietnam Aquafeed Market Report and Forecast 2025-2034

The Vietnam aquafeed market reached approximately USD 2.51 Billion in 2024. The market is projected to grow at a CAGR of 4.60% between 2025 and 2034, reaching a value of around USD 3.94 Billion by 2034.

Vietnam Aquafeed Market Growth

Vietnam has unveiled a strategy to significantly boost its aquaculture production. The country aims to produce 5.6 million metric tons (MT) of farmed seafood annually by 2025, marking a 16.7% increase from the 4.8 million MT produced in 2021. Additionally, Vietnam plans to raise its aquaculture output to 7 million MT per year by 2030, with an estimated export value of USD 12 billion (EUR 12 billion) annually. By 2030, the country also aims to meet more than 60 per cent of its domestic demand for vannamei broodstock and black tiger shrimp, and 100 per cent of its demand for pangasius broodstock.

Vietnam's extensive coastline of over 3,260 kilometres (2,026 miles) and its abundance of islands and bays provide a vast geographic opportunity for aquaculture. The government of Vietnam has been proactively backing the aquaculture sector by introducing a range of measures and policies designed to encourage sustainable aquaculture methods. These efforts encompass financial assistance, support for research and development, and the enforcement of regulations to uphold superior standards in feed quality.

Vietnam stands as a prominent nation in aquaculture production, especially for shrimp, pangasius, and tilapia. As income levels and urbanisation continue to rise, there is a noticeable trend towards protein-rich diets, which include seafood. The expanding middle-class demographic in Vietnam is playing a role in the heightened consumption of seafood, consequently boosting the demand for high-quality aquafeed.

Vietnam Aquafeed Industry Segmentation

“Vietnam Aquafeed Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Ingredient

Soybean
Corn
Fish Meal
Fish Oil
Additives
Others

Market Breakup by Additives

Amino Acids
Antibiotics
Vitamins
Feed Acidifiers
Others

Market Breakup by Product Form

Pellets
Extruded
Powdered
Liquid

Market Breakup by End Use

Carps
Shrimps
Tilapia
Molluscs
Catfish
Salmon
Lobsters
Others

Market Breakup by Region

Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others

Vietnam Aquafeed Market Share

Based on the ingredients, the market is segmented into soybean, corn, fish meal, fish oil, and additives, among others. Soybean is projected to grow at a CAGR of 4.4% during the forecast period of 2025-2034. Soybean plays a crucial role as a high-protein component in the diets of certain aquaculture species, serving as a viable substitute for fishmeal. Soybean meal is typically a more economical choice compared to fish meal, due to which it is a popular option for both feed producers and aquaculture practitioners.

Leading Companies in the Vietnam Aquafeed Market

Major market players are focusing on technological advancements in feed formulation and sustainable aquaculture practices to gain a competitive edge.
Charoen Pokphand Foods PCL
Nutreco N.V.
De Heus Animal Nutrition
Grobest Group Limited
GREENFEED VIETNAM CORPORATION
UNI-PRESIDENT VIETNAM CO,. LTD.
Others Show more