The Vietnam aquaculture industry has long been a critical contributor to the country’s economy, providing jobs, supporting food security, and making a significant impact on global seafood exports. In 2024, the Vietnam aquaculture market volume reached approximately 4.80 million tons. The market is expected to grow at a compound annual growth rate (CAGR) of 4.60% between 2025 and 2034, reaching nearly 7.53 million tons by 2034. The growth of this market is driven by the increasing demand for seafood, advancements in aquaculture technology, and growing export opportunities.

Vietnam Aquaculture Market Size

The Vietnam aquaculture market reached a volume of around 4.80 million tons in 2024, making it one of the largest aquaculture markets in Southeast Asia. The country's favorable climate, vast coastline, and an established industry infrastructure support its significant role in global seafood production, particularly in farmed shrimp and pangasius (catfish). The market's size reflects both domestic consumption and Vietnam's competitive position as a major seafood exporter. With increasing investments in both farming practices and technology, the market size is set to expand further, fueled by growing local demand and export potential.

Vietnam Aquaculture Market Trends

Several key trends are shaping the Vietnam aquaculture market:

• Sustainability and Eco-Friendly Practices: The demand for sustainable aquaculture is on the rise, with consumers increasingly seeking products that are responsibly farmed. This trend has led to the adoption of eco-friendly practices, such as integrated multi-trophic aquaculture (IMTA) and zero-waste systems, which help reduce environmental impacts while boosting production efficiency.

• Technological Advancements: The use of innovative technologies such as automated feeding systems, water quality monitoring tools, and genetic improvements in farmed species are driving the modernization of Vietnam’s aquaculture sector. These technologies are improving the efficiency and sustainability of farms, allowing producers to meet both domestic and international demand.

• Shift Towards High-Value Species: There is a growing focus on cultivating high-value species such as shrimp, tilapia, and pangasius, which have higher market prices and strong demand from global markets. This trend is helping Vietnam solidify its position as a major exporter of these species, particularly shrimp, to key markets such as the United States, Japan, and Europe.

• Focus on Traceability and Certification: As international markets demand greater transparency regarding sourcing practices, there has been an increasing push toward traceability systems. Many Vietnamese aquaculture companies are pursuing international certifications, such as the Aquaculture Stewardship Council (ASC) certification, to meet export requirements and enhance market access.

Vietnam Aquaculture Market Growth

The Vietnam aquaculture market is expected to grow at a CAGR of 4.60% from 2025 to 2034, driven by several key factors:

• Increasing Seafood Demand: As global seafood consumption continues to rise, both domestically and internationally, the demand for aquaculture products, particularly shrimp and catfish, is also increasing. This has spurred the need for more sustainable and efficient farming practices to keep up with the demand.

• Government Support: The Vietnamese government is actively supporting the aquaculture sector through policy initiatives, infrastructure development, and research in sustainable farming techniques. These efforts are helping to promote growth in both the domestic and export markets.

• Rising Export Opportunities: Vietnam is one of the world's largest exporters of seafood, and the aquaculture sector's growth is driven by the expansion of its export market. Improved trade relations, reduced tariffs, and access to new markets are helping the country strengthen its position as a global seafood exporter.

• Improved Farming Techniques: The adoption of better farming practices, such as advanced breeding techniques and improved feed formulations, is leading to higher production yields and more resilient fish stocks, further supporting market growth.

Vietnam Aquaculture Market Forecast

The Vietnam aquaculture market is projected to reach a volume of almost 7.53 million tons by 2034, growing at a steady CAGR of 4.60%. This growth is primarily driven by increasing consumer demand for seafood, enhanced production practices, and continued improvements in the country's infrastructure and export capabilities. As technology evolves and environmental sustainability becomes a key priority, the aquaculture industry in Vietnam is expected to continue growing steadily, solidifying the country’s position as a key player in the global seafood market.

Competitive Analysis

The Vietnam aquaculture market is competitive, with a mix of local and international players leading the market. These companies are innovating in farming practices, production capacity, and sustainability to stay ahead of market demands.

• Hung Vuong Corporation: One of the largest seafood companies in Vietnam, Hung Vuong Corporation focuses on the production and export of shrimp and pangasius. The company is well-known for its commitment to sustainability and high-quality production standards. Hung Vuong is a key player in the export of farmed seafood to markets worldwide.

• Vinh Hoan Corporation: Vinh Hoan is a prominent player in the Vietnam aquaculture market, known for its production of pangasius (catfish). The company is recognized for its sustainable farming practices and high-quality products, which are exported to over 30 countries. Vinh Hoan’s focus on traceability and environmental standards sets it apart from competitors.

• Quoc Viet Co. Ltd: Quoc Viet is another major player in the Vietnamese aquaculture market, specializing in the farming and processing of shrimp. The company is known for its modern farming techniques, high standards of hygiene, and commitment to producing sustainable, eco-friendly products for both local and export markets.

• Minh Phu: Minh Phu is one of Vietnam's leading shrimp farming companies and a key exporter in the global market. The company is focused on innovation, using advanced farming techniques to ensure the quality and sustainability of its shrimp products. Minh Phu's global presence and strong brand reputation make it a major player in the aquaculture market.

• Others: Other significant players in the market include smaller, regional aquaculture companies that are continuously innovating to meet the growing demand for sustainable seafood. These companies often focus on niche products, such as organic or specialty aquaculture species, catering to emerging consumer trends.