Vietnam Aquaculture Feed Market

Vietnam Aquaculture Feed Market Overview

• The Vietnam Aquaculture Feed Market is valued at USD 380 million, based on a five-year historical analysis. This growth is primarily driven by rising seafood consumption, the shift from farm-made to compound feeds, and intensifying aquaculture for pangasius and shrimp supported by improving feed quality and farm biosecurity practices.
• Key regions dominating the market include the Mekong Delta (Southern Vietnam), the country’s aquaculture heartland, with significant pangasius and shrimp farming clusters; Southern Vietnam holds the largest share regionally versus Central and Northern regions, underpinned by water resource endowments and dense farm networks that anchor feed distribution.
• Vietnam has tightened quality control over aquafeed with standards and conformity assessments under existing regulations to ensure nutritional adequacy and contaminant limits, aligned with national fisheries development strategies and food safety oversight; enforcement emphasizes registration, labeling, and compliance testing by competent authorities.

Vietnam Aquaculture Feed Market Segmentation

By Type:The aquaculture feed market is segmented into various types, including fish feed, shrimp feed, mollusk feed, crab and other crustacean feed, larval/nursery and broodstock feeds, functional/medicated and probiotic feeds, and organic and specialty feeds. Among these, fish feed—especially for pangasius/catfish and carp—accounts for the largest share due to Vietnam’s high-volume pangasius sector, while shrimp feed is the second largest given the scale of whiteleg shrimp farming. The increasing demand for fish as a primary protein source and export-oriented farming pushes adoption of nutritionally balanced, pelletized and extruded feeds to improve growth and feed conversion.

By End-User/Species:The end-user segment includes various types of farms such as catfish/pangasius farms, shrimp farms, tilapia and carp farms, and mollusk and other aquatic species farms. Catfish and pangasius farms are the leading end-users, consistent with industry reporting that catfish dominates end-user demand in Vietnam’s aquafeed market; shrimp farms are the next largest, followed by tilapia/carp and mollusks.

Vietnam Aquaculture Feed Market Competitive Landscape

The Vietnam Aquaculture Feed Market is characterized by a dynamic mix of regional and international players. Leading participants such as Cargill Vietnam, CP Vietnam Corporation (Charoen Pokphand Foods), Uni-President Vietnam, GreenFeed Vietnam Corporation, De Heus Vietnam, Skretting Vietnam (Nutreco), Proconco (Vietnam-France Joint Venture Feed, Proconco Vina), Vinh Hoan Corporation (VHC) – Feed & Farming, Biomin Vietnam (DSM-Firmenich), Hùng V??ng Corporation, Grobest Vietnam, Tongwei Vietnam, Qu?ng Ninh Fishery Feed JSC, Viet Thang Feed JSC (VTF), Th?ng Long Feed JSC contribute to innovation, geographic expansion, and service delivery in this space.

Vietnam Aquaculture Feed Market Industry Analysis

Growth Drivers

• Increasing Demand for Seafood:The seafood consumption in Vietnam reached approximately 9 million tons, driven by both domestic and international markets. The World Bank projects that seafood demand will continue to rise, with an expected increase of 2.5% annually through future. This growing appetite for seafood is pushing aquaculture feed production to meet the needs of both local consumers and export markets, which accounted for $9 billion in seafood exports.
• Government Support for Aquaculture:The Vietnamese government has allocated over $200 million to support aquaculture development, focusing on sustainable practices and technological advancements. This funding is part of a broader strategy to enhance food security and boost the economy. Additionally, the government aims to increase aquaculture's contribution to the national GDP, which was approximately 3.5%, by promoting investment in feed production and infrastructure.
• Technological Advancements in Feed Production:The aquaculture feed sector is witnessing significant technological innovations, with investments exceeding $150 million. These advancements include the development of automated feed production systems and enhanced nutritional formulations. As a result, feed conversion ratios have improved, with some producers reporting reductions to 1.2:1. This efficiency is crucial for meeting the rising demand for high-quality aquaculture products in both domestic and export markets.

Market Challenges

• Fluctuating Raw Material Prices:The volatility of raw material prices poses a significant challenge for the aquaculture feed market. Prices for key ingredients like fishmeal and soybean meal surged by 15% due to supply chain disruptions and increased global demand. This fluctuation impacts profit margins for feed manufacturers, forcing them to either absorb costs or pass them onto producers, which can hinder growth in the aquaculture sector.
• Environmental Regulations:Stricter environmental regulations are being implemented in Vietnam, particularly concerning waste management and resource usage in aquaculture. The Ministry of Agriculture and Rural Development reported that compliance costs for feed manufacturers increased by 20% due to new environmental standards. These regulations, while essential for sustainability, can create barriers for smaller producers who may struggle to meet compliance requirements.

Vietnam Aquaculture Feed Market Future Outlook

The future of the Vietnam aquaculture feed market appears promising, driven by increasing seafood demand and government initiatives aimed at sustainability. As the market evolves, producers are likely to adopt more innovative feed solutions, including plant-based ingredients and digital management technologies. The focus on enhancing nutritional profiles will also gain traction, aligning with global trends towards healthier aquaculture practices. Overall, the sector is poised for growth, supported by both domestic consumption and export opportunities.

Market Opportunities

• Expansion into Organic Feed Products:The demand for organic aquaculture feed is on the rise, with an estimated market value of $300 million. This trend presents a significant opportunity for producers to develop organic feed lines, catering to health-conscious consumers and export markets that prioritize sustainability and quality.
• Development of Customized Feed Solutions:Customized feed solutions tailored to specific species and growth stages are gaining traction. Approximately 25% of aquaculture producers expressed interest in personalized feed formulations. This trend allows manufacturers to differentiate their products and enhance feed efficiency, ultimately improving profitability for aquaculture operations.