Vietnam Fish Farming Market Report, By Rearing Product Type (Equipment, Chemicals, Fertilizers, Pharmaceuticals), By Culture (Freshwater, Marine, Brackish Water), By Species (Aquatic Animals, Aquatic Plants), By Culture System (Extensive, Semi-Extensive, Intensive), By Production Type (Small-Scale, Medium, Large-Scale), By Distribution Channel and Regions 2024-2032

Market Overview:

"The Vietnam fish farming market was valued at US$ 101.2 million in 2023 and is expected to register a CAGR of 3.4% over the forecast period and reach US$ 136.7 million in 2032."

Report Attributes	Details
Base Year	2023
Forecast Years	2024-2032
Historical Years	2021-2023
Vietnam Fish Farming Market Growth Rate (2024-2032)	3.4%

Aquaculture or fish farming has made great contributions in the changing economy of Vietnam and the fish farming market. Vietnam is one of the top global exporters of seafood especially pangasius and shrimp, thus the fish farming sector in the country has been growing rapidly in the last few years. The industry is essential not only in ensuring food security at the domestic level but also a major revenue earner for the country through exports, hence making it an important sector in the economic growth of the country.

The incorporation of sustainable practices and modern technologies is one major aspect that has changed the narrative of fish farming in Vietnam. There has been a shift from traditional aquaculture methods to more sustainable practices such as recirculating aquaculture systems (RAS), biofloc technology which conserves water and reduces wastage. These technologies allow farmers to enhance the production levels without necessarily increasing the negative effects that fish farming has on the environment.

The emphasis on upgrading fish breeding practices and quality of fish feed is another driver of the market transformation. In Vietnam, the introduction of disease resistant fish and nutritionally and economically high value-added fish feeds has resulted in improved health of the fish and enhanced productivity as well. These advancements are hereby guaranteeing the country’s competitiveness in the international seafood markets.

The government of Vietnam has also joined hands with other international organizations in promoting sustainable aquaculture development by offering best practices to ensure compliance with quality standards of seafood products around the world boosting the image of Vietnam as seafood supplier.  This transformation is enabling Vietnam to take its place on the global scale of aquaculture industry and promoting economic growth and sustainability of the sector as well.

Vietnam Fish Farming Market Trends and Drivers:

Vietnam fish farming industry is experiencing emerging trends and drivers which are instrumental in its growth and competitiveness in the global market. The primary factor is the rising global demand for fish and fishery products across the globe especially for the Vietnamese fish and shrimp known as the pangasius in countries like the US, Europe, and Japan. Such huge demand has motivated aquaculture in Vietnam to take a more aggressive approach and enhance its production efficiency and product quality.

Sustainable practices have become a major trend, encouraging both government and private players to put their resources in eco-friendly farming methods. Use of recirculating aquaculture systems, suspensive aquaculture system and integrated multi-trophic aquaculture are some of the technologies helping in the enhancement of the production levels while at the same time minimizing waste and its management. These innovations are especially important as the industry faces challenges related to water pollution and disease outbreaks.

Moreover, the reorientation from low-value aquatic species towards high-value aquatic species such as shrimp and tilapia has contributed significantly as these products have higher profit returns and are readily available in the market. The government’s emphasis on research and development to breed disease-resistant fish and improve feed quality has further strengthened the industry.

In addition, the high seafood supply capabilities of Vietnam are also favoured by easy accessibility to important trade routes and the favourable government policies supporting exports. All these factors and trends make the fish farming business within Vietnam quite vibrant with growth prospects and an opportunity to be the leader in the market.

Vietnam Fish Farming Market Restraining Factors:

There are some barriers that hinder the growth of the fish farming sector in Vietnam. In terms of the most significant barriers to enter in the market, environmental issues, particularly water pollution faced in aquaculture are of great concern. Poor quality water and pollution can result in disease outbreaking which can cause losses to fish farmers. Moreover, the overuse of chemicals in farming, especially antibiotics, to prevent incidences of disease further raises food safety issues thereby hindering the growth of the market.

Another limitation is modern infrastructures and advanced technologies are limited in certain rural areas. Many small-scale farmers still practice old farming methods which are inefficient and not environment friendly. The other challenge faced by the smaller farms is the high expense in the installation of advanced systems such as recirculating aquaculture system or biofloc system.

Vietnam Fish Farming Market Opportunities:

One of the major opportunities for the Vietnam fish farming market is the growth of sustainable aquaculture. It is no secret that global consumption of sustainably sourced seafood is growing, and therefore it is important for Vietnam to embrace clean technologies such as RAS and IMTA that promote production but minimize negative externalities.

Another factor creating demand in Vietnam for the restaurant stocks is the introduction of new aquaculture species. Additionally, owing to the current trends where more consumers are interested in eating organic seafood, Vietnam has an opportunity to innovate and introduce organic aquaculture products into the market, which will be an added advantage for its market growth.

The favorable geographical position of Vietnam and the measures adopted by the government to develop infrastructure and facilitate exports, is a plus for market growth, giving the country the ability to further assert its dominance in seafood production and exports in the world.

Vietnam Fish Farming Market Segmentation:

By Rearing Product Type

• Equipment
• Chemicals
• Fertilizers
• Pharmaceuticals

In the Vietnam fish farming market, the chemicals segment dominates due to its crucial role in maintaining water quality and managing disease control. Chemicals, such as disinfectants, probiotics, and antibiotics, are essential for preventing disease outbreaks, a major concern in aquaculture. Additionally, chemicals help regulate water pH levels and improve overall farm productivity. Given the environmental challenges and high demand for disease-free seafood, the use of chemicals has become indispensable for fish farming operations.

By Culture

• Freshwater
• Marine
• Brackish Water

The freshwater segment dominates the Vietnam fish farming market due to the country's vast network of rivers, lakes, and ponds, providing ideal conditions for freshwater aquaculture. Species like pangasius and tilapia, which thrive in freshwater, are in high demand for both domestic consumption and export markets. Additionally, freshwater aquaculture is less costly and easier to manage compared to marine or brackish water farming, making it more accessible to small-scale farmers across Vietnam.

By Species

• Aquatic Animals
• Aquatic Plants

The aquatic animals segment dominates the Vietnam fish farming market because of the high demand for species such as pangasius, shrimp, and tilapia, both domestically and internationally. These species are popular in global markets like the U.S. and Europe, making them key export products. Aquatic animals also offer higher profitability and are easier to cultivate at scale, driving the growth of this segment compared to aquatic plants.

By Culture System

• Extensive
• Semi-Extensive
• Intensive

On the basis of culture system, the Vietnam fish farming market is categorized into extensive, semi-extensive, intensive.

By Production Type

• Small-Scale
• Medium
• Large-Scale

On the basis of production type, the Vietnam fish farming market is categorized into small-scale, medium, large-scale.

By Distribution Channel

• Traditional Retail
• Supermarkets & Hypermarkets
• Specialized Retailers
• Online Stores
• Others

On the basis of distribution channel, the Vietnam fish farming market is categorized into traditional retail, supermarkets & hypermarkets, specialized retailers, online stores, others

By Region

• Southern Vietnam
• Northern Vietnam
• Central Vietnam

Leading Companies in Vietnam Fish Farming Market & Competitive Landscape:

The Vietnam fish farming market is highly competitive, with key players adopting various strategies to maintain dominance. Leading companies are focusing on expanding their aquaculture infrastructure, improving fish breeding techniques, and adopting advanced technologies like recirculating aquaculture systems (RAS) to increase yield and sustainability. Investment in high-quality feed production and disease-resistant fish varieties is also on the rise. Additionally, companies are strengthening their export capabilities by adhering to international quality standards and forming partnerships with global seafood distributors, ensuring a competitive edge in both domestic and international markets.

These companies include:

• 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.
• Among Others

Vietnam Fish Farming Market Research Scope

Report Metric	Report Details
Vietnam Fish Farming Market size available for the years	2021-2032
Base Year	2023
Forecast Period	2024-2032
Compound Annual Growth Rate (CAGR)	3.4%
Segment covered	By Rearing Product Type, Culture, Species, Culture System, Production Type, and Distribution Channel
Country Scope	Vietnam
Quantitative Units	Volume in Kilo Tons; revenue in USD million, and CAGR from 2024 to 2032
Key Players	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., among others
Report Coverage	Historical Data, Revenue Forecast, Company Share Analysis, Pricing Analysis, Market Dynamics