Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Vietnam Aquaculture Market, By Rearing Product Type (Equipment, Chemicals, Fertilizers, Pharmaceuticals), By Culture, By Species, By Culture System, By Production Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Vietnam aquaculture market is projected to witness impressive growth during the forecast period, 2023-2027
The growing demand for aquatic companion animals and increasing consumption of seafood in the country are driving the demand for the Vietnam aquaculture market. Seaweed, fish, mollusks, and other aquatic items can be produced through farming just as easily as they can be obtained by fishing in sea and ocean waters.
The demand for seafood products is expanding quickly, and the country is exporting more goods to its neighbors and to nations like Russia and Poland, which is positively impacting the market growth. Aquatic plants and animals are now being produced at significant levels to meet the growing consumer requirements. Rising penetration of commercial food chains and growing tourism industry are also supporting the growth of the Vietnam aquaculture market.
The rapidly growing e-commerce sector and use of social media platforms are boosting the growth of the FMCG industry. The availability of high-speed internet connection and the proliferation of smart devices are enabling the market players reach a wider set of consumers. Therefore, the emergence of online sales channels and enhanced security on online payments are expected to influence market demand positively.
The Vietnam aquaculture market is segmented on the basis of rearing product type, culture, species, culture system, production type, distribution channel, competitive landscape, and regional distribution. Based on species, the market is bifurcated into Aquatic Animals v/s Aquatic Plants.
Aquatic animals are expected to hold the largest market share in the forecast period, 2023-2027. Fish, shrimp, and other aquatic animals are in high demand as household pets and for consumption. Consumers are also drawn to aquatic plants like seaweed and microalgae to enhance aquarium decor at home, which might lead to significant growth in the Vietnam aquaculture industry over the next five years.
The major market players operating in the Vietnam aquaculture market are Ca Mau Seafood Processing & Service Joint Stock Corporation, Minh Phu Seafood Corporation, Vinh Hoan Corporation, Quoc Viet Co. Ltd, Dong Nam Seafood Corporation, Phuong Dong Seafood Co., Ltd., SOC Trang Seafood Joint Stock Company, Thuan Hung Fisheries Company Ltd.
Objective of the Study:
- To analyze the historical growth in the market size of the Vietnam aquaculture from 2017 to 2021.
- To estimate and forecast the market size of Vietnam aquaculture market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the Vietnam aquaculture market based on rearing product type, culture, species, culture system, production type, distribution channel, region, and company.
- To identify the dominant region or segment in the Vietnam aquaculture market.
- To identify drivers and challenges for the Vietnam aquaculture market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Vietnam aquaculture market.
- To identify and analyze the profiles of leading players operating in the Vietnam aquaculture market.
- To identify key sustainable strategies adopted by market players in Vietnam aquaculture market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Vietnam aquaculture market.
- Ca Mau Seafood Processing & Service Joint Stock Corporation
- Minh Phu Seafood Corporation
- Vinh Hoan Corporation
- Quoc Viet Co. Ltd
- Dong Nam Seafood Corporation
- Phuong Dong Seafood Co., Ltd.
- SOC Trang Seafood Joint Stock Company
- Thuan Hung Fisheries Company Ltd
Report Scope
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Vietnam Aquaculture Market, By Rearing Product Type:
- Equipment
- Containment Equipment
- Water Pumps and Filters
- Water Circulating and Aerating Equipment
- Cleaning Equipment
- Feeders
- Others
- Chemicals
- Fertilizers
- Pharmaceuticals
Vietnam Aquaculture Market, By Culture:
- Freshwater
- Marine
- Brackish Water
Vietnam Aquaculture Market, By Species:
- Aquatic Animals
- Shrimps
- Tilapia
- Crustaceans
- Mollusks
- Others
- Aquatic Plants
- Seaweeds
- Microalgae
- Others
Vietnam Aquaculture Market, By Culture System:
- Extensive
- Semi-Extensive
- Intensive
Vietnam Aquaculture Market, By Production Type:
- Small Scale
- Medium & Large Scale
Vietnam Aquaculture Market, By Distribution Channel:
- Traditional Retail
- Supermarkets and Hypermarkets
- Specialized Retailers
- Online Stores
- Others
Vietnam Aquaculture Market, By Region:
- Northern Region
- Central Region
- Southern Region
For more information about this report visit https://www.researchandmarkets.com/r/l26y4p
