Vietnam Shrimp Feed Market Grow at CAGR of 8.6% during 2023-2028

The latest research study by IMARC Group "Vietnam Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The Vietnam shrimp feed market size reached 1.4 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 8.6% during 2023-2028.

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Vietnam Shrimp Feed Market Outlook:

Shrimp feed helps maintain suitable levels of minerals, vitamins, essential amino acids, and fatty acids amongst the shrimps. It is made to achieve the nutritional requirements of farmed shrimps. Some ingredients in shrimp feed are fish and squid meal, fish oil, lecithin, cereal flour, and other vital and proprietary additives. The shrimp feed industry in Vietnam is highly structured and caters to the export market. The flourishing Vietnam aquaculture industry is one of the most significant advantages for shrimp feed manufacturers.

Vietnam Shrimp Feed Market Demand:

The market in Vietnam is majorly driven by significant growth in the aquaculture industry. In line with this, the increasing commercialization of vannamei shrimp and the rising consumption of shrimp are positively influencing the market. Furthermore, the availability of improved product varieties is catalyzing the market. Apart from this, the shift towards the usage of commercially processed shrimp feed is propelling the market. Moreover, the growing research and development activities are creating a positive outlook for the market. Besides, the development of new aquaculture technologies and the escalating demand for seafood products are favoring the market. Additionally, the increasing awareness regarding feed formulation is providing a boost to the market.

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Key Market Segmentation:

Breakup by Type:

• Grower
• Finisher
• Starter

Breakup by Ingredients:

• Soybean Meal
• Fish Meal
• Wheat Flour
• Fish Oil
• Others

Breakup by Additives:

• Vitamin and Protein
• Fatty Acid
• Antioxidant
• Feed Enzyme
• Antibiotics
• Others

Competitive Landscape:

• Competitive Structure
• Key Player Profiles

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