Vietnam Pangasius (Basa) Market to Reach 1.3 Million Tons by 2028

According to the latest report by IMARC Group, titled "Vietnam Pangasius (Basa) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", 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.

Vietnam Pangasius (Basa) Market Overview:

Pangasius, also known as catfish, is a freshwater fish native to Southeast Asia. It is a popular fish species in the aquaculture industry due to its fast growth, high yield, and low cost of production. It has become a major export commodity in recent years, with Vietnam being the largest producer and exporter of fish. It is a white-fleshed fish with a mild and sweet flavor. It is a versatile fish that can be cooked in various ways, such as grilling, frying, or baking. It is also a healthy fish, as it is low in fat and high in protein. Pangasius provides several important nutrients and health benefits. It is a good choice for those looking to increase their protein and omega-3 intake while keeping fat intake low.

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Vietnam Pangasius (Basa) Market Demand:

The market in Vietnam is majorly driven by the increasing demand for affordable and healthy protein sources. In line with this, the rising awareness about the health benefits offered by Pangasius is significantly contributing to the market.

Furthermore, the cost-effectiveness, low feed conversion ratios, and high product yields make it an attractive choice for aquaculture farmers in Vietnam, positively influencing the market. Apart from this, the growing product utilization in a wide range of dishes and cuisines is catalyzing the market.

Moreover, the Pangasius production is done sustainably and responsibly to minimize environmental impact and ensure the welfare of workers and local communities. This, in turn, is creating a positive outlook for the market. Besides, the escalating product adoption in manufacturing nutritional and nutraceutical supplements is propelling the market. Additionally, the increasing product demand from the neighboring countries and the expansion of production capacities by the key companies are providing a boost to the market.

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Key Market Segmentation:

Competitive Landscape with Key Players:

• 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
• Vinh Hoan Corporation

Breakup by Province:

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

Breakup by Culture Type:

• Fresh Water
• Brackish Water

Breakup by Feed Type:

• Commercial
• Home-Made

Breakup by Rearing Methods:

• Pond
• Floating Cage

Breakup by Product Type:

• Processed
• Raw
• Value-Added

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