The Vietnam seafood market size reached USD 1,480.9 Million in 2024 and is expected to grow to USD 1,874.0 Million by 2033. The market is projected to exhibit a CAGR of 2.65% during the forecast period of 2025-2033. Growth is driven by rich natural resources, skilled workforce, and rising export demands, supported by advances in e-commerce and technology enhancing competitiveness and sustainable development.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Vietnam Seafood Market Key Takeaways
- The seafood market in Vietnam was valued at USD 1,480.9 Million in 2024.
- The market is expected to grow at a CAGR of 2.65% from 2025 to 2033.
- Market forecast anticipates reaching USD 1,874.0 Million by 2033.
- Strong export demand from global markets such as the US, Japan, and the EU supports market growth.
- Free trade agreements like the EU-Vietnam FTA facilitate expanded market access and competitiveness.
- Advances in aquaculture technology improve production efficiency and sustainability.
- Growing domestic consumption fueled by a rising middle class further contributes to market expansion.
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Market Growth Factors
The increasing international demand of seafood, including shrimp and pangasius, as well as the favorable climate and environment, and abundance of coastline have fostered the development of aquaculture in Vietnam. The Vietnam Association of Seafood Exporters and Producers says seafood exports reached USD 10 Billion in 2024 and should grow more in 2025. The Vietnamese market continues to be driven by demand from major importing countries that include the US, Japan, and the European Union.
Overall, FTAs have accelerated the globalization of the industry. An example in particular is the EU-Vietnam FTA, which has enabled Vietnamese seafood to enter new markets, encouraged exports through lower duties, and thus made it more competitive on the global market. These FTAs also help ease trade and grow these sectors through increased cooperation between the countries. The expanding FTA network might improve Vietnam’s sustainable seafood market development within reason.
Aquaculture technologies are becoming more efficient in addition to more sustainable. This includes technologies of IMTA (integrated multi-trophic aquaculture) or RAS (recirculating aquaculture systems), which are being adopted at a larger scale. These seeds, feeds, and water are better managed. Government policies support. Domestic demand grows. These factors drive Vietnam to develop an expanding and competitive seafood value chain that is also sustainable.
Market Segmentation
- Type Insights: The market segments include Fish, Shrimp, and Others. These categories cover various species and product types contributing to the seafood market.
- Form Insights: Market forms analyzed include Fresh / Chilled, Frozen / Canned, and Processed seafood. This delineation reflects consumer preferences and product handling procedures.
- Distribution Channel Insights: Distribution is categorized into Off-Trade and On-Trade channels. Off-Trade includes convenience stores, online channels, supermarkets, hypermarkets, and others, while On-Trade represents foodservice and hospitality sectors.
Regional Insights
The report segments the market by Northern Vietnam, Central Vietnam, and Southern Vietnam. While no precise statistics are provided for market shares or growth rates by region, these regions represent the major seafood markets within the country.
Recent Developments & News
In July 2025, VASEP requested government support to expand high-tech shrimp farming. Companies such as Grobest, CPF, and Skretting have introduced advanced farming models, and Minh Phu Seafood developed MPBio, integrating over 50 global shrimp-farming technologies, aimed at boosting competitiveness globally. In June 2025, Pakistan and Vietnam agreed to strengthen cooperation in the Halal seafood sector. Pakistan’s seafood exports to Vietnam rose 20% to USD 9 Million in 2024.
Key Players
- Grobest
- CPF
- Skretting
- Minh Phu Seafood
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