Vietnam Pangasius (Basa) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Vietnam Pangasius (Basa) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:
The Vietnam Pangasius market size reached 1.2 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 1.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.02% during 2023-2028.

Pangasius is a genus of medium-large to very large shark cat fishes native to fresh water in South and Southeast Asia. They have a low to medium fat content with high levels of protein. The Mekong river delta in Vietnam is the prime hub for aquaculture of Pangasius due to its abundance of fresh water. By far, Vietnam is the largest producer and exporter of Pangasius in the world.

It has a long coastline and abundant supply of fresh water through the Mekong river. The Mekong delta has several inter connecting rivers and canals, primarily contributed to the rise of Pangasius aquaculture. Furthermore, technological advancements have reduced the labour cost and processing time, resulting in the decline in the Pangasius processing cost. Apart from this, the Vietnamese government has introduced sustainable farming practices to grow high-quality fish and also to minimize the environmental impact due to Pangasius aquaculture. The government has also implied various standards such as ASC, GLOBALG.A.P., VietGAP, BAP etc. to gain consumer confidence in the export market. Introduction of sustainable farming practices and certifications to hatcheries, farms and processing companies have also strongly contributed to the growth of the Pangasius industry in Vietnam. In addition to this, expansion of production capacities, sustainable trade initiatives and increased demand from China, United States and Europe are some of the other factors that are driving the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam pangasius market report, along with forecasts at the country and province level from 2023-2028. Our report has categorized the market based on culture type, feed type, rearing method and product type.

Breakup by Culture Type:

Fresh Water
Brackish Water

Breakup by Feed Type:

Commercial Pellets
Home-Made Pellets

Breakup by Rearing Method:

Ponds
Floating Cage

Breakup by Product Type:

Processed
Raw
Value-Added

Breakup by Province:

Dong Thap
An Giang
Can Tho
Ben Tre
Vinh Long
Hau Giang
Tien Giang
Soc Trang
Tra Vinh
Kien Giang
Others

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Anvifish Joint-Stock Company, Aquatex Ben Tre, Bien Dong Seafood Company Limited, Can Tho Import Export Seafood JSC, Cuu Long Seafood Import and Export JSC, Dai Thanh Seafood, Fatifish Company Limited, Go Dang Joint Stock Company (GODACO), Hung Ca Company Limited, IDI Corporation, NAVICORP, NTSF Seafood Joint Stock Company and Vinh Hoan Corporation.

Key Questions Answered in This Report

How has the Vietnam pangasius market performed so far and how is it expected to perform in the coming years?
What has been the impact of COVID-19 on the Vietnam pangasius market?
What are the culture types in the Vietnam pangasius market?
Which are the popular product types in the Vietnam pangasius market?
What are the major rearing methods in the Vietnam pangasius market?
What are the feeds used in the Vietnam pangasius market?
What are the major provinces in the Vietnam pangasius market?
What are the key driving factors and challenges in the Vietnam pangasius market?
What are the various stages in the value chain of the Vietnam pangasius market?
What is the structure of the Vietnam pangasius market and who are the key players?
What is the degree of competition in the Vietnam pangasius market?