Vietnam Aquafeed Additives Market Size & Outlook
Vietnam aquafeed additives market, 2017-2030 (US$M)
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Vietnam aquafeed additives market highlights
- The Vietnam aquafeed additives market generated a revenue of USD 12.2 million in 2022 and is expected to reach USD 17.7 million by 2030.
- The Vietnam market is expected to grow at a CAGR of 4.7% from 2023 to 2030.
- In terms of segment, feed acidifiers was the largest revenue generating ingredients in 2022.
- Essential Oil & Natural Extracts is the most lucrative ingredients segment registering the fastest growth during the forecast period.
Aquafeed additives market data book summary
| Market revenue in 2022 | USD 12.2 million |
| Market revenue in 2030 | USD 17.7 million |
| Growth rate | 4.7% (CAGR from 2022 to 2030) |
| Largest segment | Feed acidifiers |
| Fastest growing segment | Essential Oil & Natural Extracts |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Anti-Parisitic, Feed Acidifiers, Prebiotics, Essential Oil & Natural Extracts, Palatants |
| Key market players worldwide | Aker ASA Class A, Nutrien Ltd, Rexel SA, Lallemand, Alltech, Kemin Industries, Nouryon, DuPont de Nemours Inc, Biorigin, Calamos Evolving World Growth A |
Other key industry trends
- In terms of revenue, Vietnam accounted for 0.6% of the global aquafeed additives market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aquafeed additives market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 41.0 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 10.66% in 2022. Horizon Databook has segmented the Vietnam aquafeed additives market based on anti-parisitic, feed acidifiers, prebiotics, essential oil & natural extracts, palatants covering the revenue growth of each sub-segment from 2017 to 2030.
The aquafeed additives market in Vietnam is growing rapidly as it is one of the largest producers of seafood from aquaculture followed by China, Indonesia, and India. The consumers in the country are shifting to healthier food items as well as the growing income level is likely to benefit the market growth across the country.
The key seafood available in the country includes shrimps, tuna, marine fishes, and pangasius among others. The major factors driving the aquafeed additives market in the country include the rising consumption rate of seafood, increasing exports, government support, and technological advancements. The main export markets for Vietnam are Japan, the U.S., China, Europe, and South Korea. Many manufacturers are joining hands with global players to enhance their product range and expand worldwide.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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Vietnam aquafeed additives market size, by ingredients, 2017-2030 (US$M)
Vietnam Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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