Vietnam Aquafeed Market to Flourish at a CAGR of Around 11.08% During 2026-32

The Vietnam aquafeed market was valued at USD 1.81 billion in 2025 and is projected to grow from USD 1.98 billion in 2026 to USD 3.72 billion by 2032, registering a CAGR of 11.08% during 2026–2032. The market is expanding alongside rising aquaculture production, increasing shrimp and pangasius output, and the continued adoption of intensive and high-technology farming systems, which are increasing the requirement for commercial and nutritionally optimized aquafeed.

From a segmentation perspective, crustacean feed accounted for approximately 47% of market revenue in 2026, supported by strong shrimp production and intensive farming practices. Whiteleg shrimp alone represented 46.5% of aquafeed revenue in 2025. Additionally, dry feed held approximately 63% share in 2026, supported by its storage stability, handling convenience, transportation efficiency, and suitability for intensive farming systems. Automated and precision feeding adoption is further reinforcing demand for standardized feed formats.

In parallel, the market is witnessing a growing shift toward high-tech and intensive aquaculture, including biofloc technology, greenhouse and net-house systems, and multi-stage production models. Recent industry developments include De Heus’s 168,000-ton annual-capacity marine and cold-water fish feed mill and C.P. Vietnam’s USD 67 million aquaculture feed mill, with annual capacity of 124,800 tons.

Consequently, disease-management needs, specialized nutrition, and functional feed solutions are creating opportunities for product innovation, while the market remains highly fragmented, with the top five players collectively accounting for approximately 26% share, as stated in the recent report “Vietnam Aquafeed Market Analysis, 2026”.

Vietnam Aquafeed Market Highlights

Vietnam Aquafeed market was valued at USD 1.81 billion in 2025 and is projected to reach USD 1.98 billion in 2026, further expanding to USD 3.72 billion by 2032.
The industry is projected to register a CAGR of 11.08% during 2026–2032, supported by rapid aquaculture expansion, rising farmed fish and shrimp production, increasing adoption of intensive farming practices, and Vietnam’s target of approximately 6.25 million tons of aquaculture output in 2026.
By species, Crustacean Feed holds the leading position with approximately 47% share in 2026, supported by strong shrimp production, intensive farming practices, and robust export demand. Whiteleg shrimp alone represented 46.5% of aquafeed revenue in 2025.
By form, Dry Feed holds the leading position with approximately 63% share in 2026, supported by its storage stability, handling convenience, transportation efficiency, nutrient stability, and suitability for intensive farming systems and automated feeding practices.
The market remains highly fragmented, with the top five players, including C.P. Vietnam Corporation, Grobest Industrial (Vietnam) Co., Ltd., Sheng Long Bio-Tech International Co., Ltd., Uni-President Vietnam Co., Ltd., and Tongwei Vietnam Co., Ltd., collectively accounting for approximately 26% share.

Vietnam Aquafeed Market Segmentation

By Species
- Fish Feed
  - Carp
  - Tilapia
  - Catfish
  - Marine Fish
  - Other Fish Feed
- Crustacean Feed
  - Shrimp
  - Other Crustacean Feed
- Mollusk Feed
- Other Aquafeed
By Ingredient
- Soybean
- Fish Meal
- Fish Oil
- Corn
- Novel Proteins
- Additives
- Other Ingredients
By Additive Type
- Amino Acids
- Vitamins and Minerals
- Probiotics
- Enzymes
- Antioxidants
- Other Additives
By Form
- Dry
- Wet
- Moist
By Life-cycle Stage
- Starter Feed
- Grower Feed
- Finisher Feed
- Broodstock Feed
By Function
- Nutritional Support
- Growth Promotion
- Immunity Support
- Texture & Palatability
- Other Functions
By Region
- Northern
- Central
- Southern
- Southeast
- Mekong Delta