Vietnam Shrimp Feed Market- Trend Analysis & Forecasts
Description
Vietnam Shrimp Feed Market Overview:
Vietnam’s shrimp feed market is experiencing steady growth, anchored in the country’s prominent role as a global shrimp producer. In 2023, the market was valued at approximately US$ ** billion and supported the production of over ** thousand tonnes of shrimp. Feed accounts for **% of total production costs, making it the most critical input in the aquaculture value chain. The Mekong Delta region, contributing to over **% of Vietnam’s shrimp output, is home to a majority of the feed mills, collectively producing around ** million tonnes of shrimp feed annually. With aquaculture acreage surpassing 750,000 hectares and a growing preference for intensive and super-intensive farming, demand for formulated feed is rising. The market is evolving from traditional feed use to specialized formulations tailored for different shrimp growth stages and environmental conditions.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam shrimp feed market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
The projected expansion of Vietnam’s shrimp exports to ** million tonnes by 2032 is a core driver for the shrimp feed market, expected to grow at a CAGR of **%. Government policies, such as the National Aquaculture Development Strategy 2030, incentivize advanced feed use and disease-resistant shrimp strains. Feed innovation, including enzyme-enhanced and probiotic-based products, is enhancing feed conversion ratios, currently averaging 1.5:1. Large-scale investment continues to shape the landscape, exemplified by CP Vietnam’s US$ ** million facility expansion in Bac Lieu in 2023. Additionally, rising global demand for traceable and sustainably farmed shrimp compels farmers to opt for higher-quality feed, reinforcing long-term market momentum.
Market Restraints & Challenges
Input cost volatility, particularly in fishmeal and soybean meal, poses major constraints, with fishmeal prices increasing **% year-on-year in 2023. Feed prices rose from US$ 0.95/kg in 2021 to US$ **/kg in 2023, narrowing profit margins for smallholders who constitute nearly **% of Vietnam’s shrimp farmers. Disease outbreaks such as Early Mortality Syndrome and EHP disrupt feed consumption and increase operational risk. Limited access to affordable credit and technical knowledge among small farmers further inhibits adoption of high-efficiency feed. Logistical challenges during monsoon seasons and lack of cold chain infrastructure also hinder timely distribution, particularly in remote areas.
Market Segmentation
Vietnam’s shrimp feed market is segmented by feed type, shrimp species, farming method, and distribution channel. Grower feed dominates with a **% market share, while starter feed is gaining interest for its contribution to early shrimp health and survival. Vannamei shrimp remain the primary consumer of commercial feed, comprising over **% of usage in 2023. Intensive and super-intensive farms—covering around 200,000 hectares—are the biggest consumers, accounting for over **% of feed demand due to high stocking densities and frequent feeding schedules. Semi-intensive farms rely partly on supplemental feeding. Distribution is led by dealer networks, representing **% of sales, though online and cooperative channels are slowly gaining traction thanks to digital penetration and access to credit in rural regions.
Price & Trade
From 2018 to 2023, the wholesale price of shrimp feed rose from US$ 0.85/kg to US$ **/kg, marking a **% annual growth rate. Premium feeds with over **% protein content cost upwards of US$ **/kg. Exported shrimp feed averages US$ **/kg due to specialized tropical formulations. Vietnam imports over ** thousand tonnes of feed ingredients annually, mainly from the U.S., Argentina, and India, facing tariffs of **%. Meanwhile, finished feed exports stood at US$ ** million in 2023, primarily to Cambodia, Laos, and the Philippines. Currency fluctuations, such as the dong's **% depreciation in 2023, marginally increased import costs. Companies like GreenFeed are investing in local raw material sourcing to stabilize pricing and reduce import reliance.
Competitive Landscape
The Vietnamese shrimp feed industry is moderately consolidated, with the top 5 companies controlling over **% of the market. CP Vietnam leads with an **% share, followed by Uni-President and Grobest, all known for strong R&D and integrated operations. New partnerships, like De Heus and Bel Ga’s probiotic feed venture and BioMar’s joint project with Viet Uc Group, highlight a shift toward specialized, high-performance feed. Local players like Vinh Hoan Feed and Proconco are ramping up capacity and digital outreach. The market remains competitive on price, distribution efficiency, and nutritional innovation, with firms investing in both production capacity and on-ground farmer support programs to gain market share.
Outlook
By 2032, Vietnam’s shrimp feed market is projected to exceed US$ ** billion, supported by feed production scaling beyond ** million tonnes. This growth aligns with the country’s export target of over ** million tonnes of shrimp. Advances in feed technology, improved FCR, and growing adoption of digital farm management tools will drive efficiency. Local ingredient sourcing and resilient logistics infrastructure will mitigate risks posed by global price volatility and supply chain disruptions. Vietnam is set to emerge not only as a global shrimp supplier but also as a key center for aquaculture feed innovation, driven by sustainability, traceability, and farmer-centric solutions.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2032
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Starter Feed, Grower Feed, and Finisher Feed)
By Cultivation (Intensive and Extensive Farming Systems)
By Sales (Domestic Sales (Direct Dealers, Co-operatives, and Online Channels) and Exports/Imports)
• Companies Profiled: The market players include, CP Vietnam, Uni-President, Grobest, Cargill Vietnam, Skretting, GreenFeed, BioMar, De Heus, Vinh Hoan Feed, Proconco, Asia Nutrition Technologies, Anova Feed, Tongwei Vietnam, and Mekong Aqua Feed, and Others.
Vietnam’s shrimp feed market is experiencing steady growth, anchored in the country’s prominent role as a global shrimp producer. In 2023, the market was valued at approximately US$ ** billion and supported the production of over ** thousand tonnes of shrimp. Feed accounts for **% of total production costs, making it the most critical input in the aquaculture value chain. The Mekong Delta region, contributing to over **% of Vietnam’s shrimp output, is home to a majority of the feed mills, collectively producing around ** million tonnes of shrimp feed annually. With aquaculture acreage surpassing 750,000 hectares and a growing preference for intensive and super-intensive farming, demand for formulated feed is rising. The market is evolving from traditional feed use to specialized formulations tailored for different shrimp growth stages and environmental conditions.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam shrimp feed market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
The projected expansion of Vietnam’s shrimp exports to ** million tonnes by 2032 is a core driver for the shrimp feed market, expected to grow at a CAGR of **%. Government policies, such as the National Aquaculture Development Strategy 2030, incentivize advanced feed use and disease-resistant shrimp strains. Feed innovation, including enzyme-enhanced and probiotic-based products, is enhancing feed conversion ratios, currently averaging 1.5:1. Large-scale investment continues to shape the landscape, exemplified by CP Vietnam’s US$ ** million facility expansion in Bac Lieu in 2023. Additionally, rising global demand for traceable and sustainably farmed shrimp compels farmers to opt for higher-quality feed, reinforcing long-term market momentum.
Market Restraints & Challenges
Input cost volatility, particularly in fishmeal and soybean meal, poses major constraints, with fishmeal prices increasing **% year-on-year in 2023. Feed prices rose from US$ 0.95/kg in 2021 to US$ **/kg in 2023, narrowing profit margins for smallholders who constitute nearly **% of Vietnam’s shrimp farmers. Disease outbreaks such as Early Mortality Syndrome and EHP disrupt feed consumption and increase operational risk. Limited access to affordable credit and technical knowledge among small farmers further inhibits adoption of high-efficiency feed. Logistical challenges during monsoon seasons and lack of cold chain infrastructure also hinder timely distribution, particularly in remote areas.
Market Segmentation
Vietnam’s shrimp feed market is segmented by feed type, shrimp species, farming method, and distribution channel. Grower feed dominates with a **% market share, while starter feed is gaining interest for its contribution to early shrimp health and survival. Vannamei shrimp remain the primary consumer of commercial feed, comprising over **% of usage in 2023. Intensive and super-intensive farms—covering around 200,000 hectares—are the biggest consumers, accounting for over **% of feed demand due to high stocking densities and frequent feeding schedules. Semi-intensive farms rely partly on supplemental feeding. Distribution is led by dealer networks, representing **% of sales, though online and cooperative channels are slowly gaining traction thanks to digital penetration and access to credit in rural regions.
Price & Trade
From 2018 to 2023, the wholesale price of shrimp feed rose from US$ 0.85/kg to US$ **/kg, marking a **% annual growth rate. Premium feeds with over **% protein content cost upwards of US$ **/kg. Exported shrimp feed averages US$ **/kg due to specialized tropical formulations. Vietnam imports over ** thousand tonnes of feed ingredients annually, mainly from the U.S., Argentina, and India, facing tariffs of **%. Meanwhile, finished feed exports stood at US$ ** million in 2023, primarily to Cambodia, Laos, and the Philippines. Currency fluctuations, such as the dong's **% depreciation in 2023, marginally increased import costs. Companies like GreenFeed are investing in local raw material sourcing to stabilize pricing and reduce import reliance.
Competitive Landscape
The Vietnamese shrimp feed industry is moderately consolidated, with the top 5 companies controlling over **% of the market. CP Vietnam leads with an **% share, followed by Uni-President and Grobest, all known for strong R&D and integrated operations. New partnerships, like De Heus and Bel Ga’s probiotic feed venture and BioMar’s joint project with Viet Uc Group, highlight a shift toward specialized, high-performance feed. Local players like Vinh Hoan Feed and Proconco are ramping up capacity and digital outreach. The market remains competitive on price, distribution efficiency, and nutritional innovation, with firms investing in both production capacity and on-ground farmer support programs to gain market share.
Outlook
By 2032, Vietnam’s shrimp feed market is projected to exceed US$ ** billion, supported by feed production scaling beyond ** million tonnes. This growth aligns with the country’s export target of over ** million tonnes of shrimp. Advances in feed technology, improved FCR, and growing adoption of digital farm management tools will drive efficiency. Local ingredient sourcing and resilient logistics infrastructure will mitigate risks posed by global price volatility and supply chain disruptions. Vietnam is set to emerge not only as a global shrimp supplier but also as a key center for aquaculture feed innovation, driven by sustainability, traceability, and farmer-centric solutions.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2032
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Starter Feed, Grower Feed, and Finisher Feed)
By Cultivation (Intensive and Extensive Farming Systems)
By Sales (Domestic Sales (Direct Dealers, Co-operatives, and Online Channels) and Exports/Imports)
• Companies Profiled: The market players include, CP Vietnam, Uni-President, Grobest, Cargill Vietnam, Skretting, GreenFeed, BioMar, De Heus, Vinh Hoan Feed, Proconco, Asia Nutrition Technologies, Anova Feed, Tongwei Vietnam, and Mekong Aqua Feed, and Others.
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