Vietnam Shrimp Feed Market- Trend Analysis & Forecasts

Vietnam's shrimp feed market stands as a pivotal pillar in the global aquaculture industry, propelled by its dominance in shrimp production and exports. The market was valued at USD ** billion in 2024 and is projected to reach over US$ ** billion by 2032, growing at a CAGR of around 5.7% during the forecast period. As Vietnam solidifies its status as a top shrimp exporter—contributing over **% of global exports—the demand for high-quality, sustainable, and cost-effective feed continues to escalate. Feed innovation, improvements in farming techniques, and government-backed aquaculture expansion have provided momentum, while rising input costs and disease outbreaks remain persistent hurdles. Nonetheless, with increasing investments in R&D and growing trade partnerships, Vietnam is poised to be a global hub for shrimp feed innovation and supply.

Market/ Product Overview

Vietnam's shrimp feed market has undergone significant transformation in recent years, driven by the country’s status as one of the top shrimp-producing nations globally. In 2023, Vietnam produced over ** thousand tonnes of shrimp, with feed accounting for nearly **% of production costs. The market is characterized by a competitive mix of domestic and multinational players offering a range of formulated feeds, including starter, grower, and finisher feeds, tailored to different farming systems such as intensive and semi-intensive. The shrimp feed segment alone accounted for nearly **% of Vietnam's aquafeed industry value in 2024. With aquaculture expanding over ** thousand hectares, and an increasing shift toward high-density and super-intensive farming systems, the role of nutritionally balanced and performance-enhancing feed has never been more critical. Feed mills in the Mekong Delta region—where **% of shrimp farming takes place—have scaled operations to meet growing demand, producing more than ** million tonnes of shrimp feed annually. This growing production capacity is underpinned by robust logistics networks and feed supply chains.

Importance of Vietnam in Global Shrimp Feed Supply Chain

Vietnam holds strategic importance in the global shrimp feed supply chain due to its position as the third-largest shrimp exporter, trailing only India and Ecuador. In 2023, the country exported shrimp worth over US$ ** billion, with major destinations including the U.S., Japan, and China. To sustain this level of production, an efficient and resilient feed supply network is vital. Vietnam’s shrimp feed market is uniquely integrated with its shrimp farming clusters, especially in the Mekong Delta, where more than **% of the feed demand originates. Leading international feed producers, including Cargill and De Heus, have established production facilities in Vietnam, capitalizing on access to raw materials, labor, and proximity to shrimp farming hubs. Additionally, Vietnam acts as a regional supply and R&D hub, exporting value-added feed products to neighboring Southeast Asian countries. Its growing feed technology capabilities, paired with collaborative public-private initiatives, further cement its significance in the global aquaculture feed ecosystem.

Vietnam Shrimp Feed Supply & Demand Trend

The Vietnam shrimp feed market is structurally supply-driven but is rapidly evolving into a demand-responsive ecosystem. In 2023, the country produced over ** million tonnes of shrimp feed, meeting around **% of domestic demand. Demand for shrimp feed is expected to grow at a CAGR of **% through 2032, driven by expansion in intensive shrimp farming areas. For every ton of shrimp produced, approximately ** to ** tons of feed are consumed, suggesting demand could reach nearly **–** million tonnes by 2032. Feed mills, predominantly located in the Mekong Delta and Central Vietnam, operate at **–**% utilization and are projected to scale up by **% in the next five years. However, the market also witnesses seasonal fluctuations aligned with stocking cycles. Demand spikes from March to July, peaking during Vietnam’s primary shrimp harvesting season. Companies have started deploying digital farm management tools to monitor feeding trends and optimize supply planning, reducing feed wastage by over **% on average.

Market Growth Factors

The Vietnam shrimp feed market is buoyed by multiple interlinked growth drivers. One primary catalyst is the rising global demand for sustainably farmed shrimp, with Vietnam’s export volume expected to reach ** million tonnes by 2032. This will necessitate feed production to increase proportionally, estimated to cross ** million tonnes annually by 2032. Government support, through policies like the National Aquaculture Development Strategy 2030, promotes the adoption of high-efficiency feeds and disease-resistant shrimp varieties, thereby driving feed demand. Moreover, technological advancements, such as precision feeding systems and enzyme-enhanced formulations, are being rapidly adopted to optimize feed conversion ratios (FCR), currently averaging 1.5:1. Companies are also expanding their capacity—CP Vietnam invested over US$ ** million in 2023 to scale up feed production in Bac Lieu province. Lastly, rising awareness among shrimp farmers regarding feed quality’s impact on growth, immunity, and survival rates is reinforcing the demand for premium feed solutions.

Market Restraints & Challenges

Despite promising growth, several structural and operational challenges weigh on Vietnam's shrimp feed market. Volatile raw material prices, especially for soybean meal, fishmeal, and wheat—constituting over **% of feed composition—impact production costs. For instance, fishmeal prices surged by **% in 2023 due to El Niño-related supply disruptions. Feed prices in Vietnam rose to US$ ** per kilogram in 2023 from US$ **/kg in 2021, squeezing farmer margins. Disease outbreaks such as EMS (Early Mortality Syndrome) and EHP (Enterocytozoon hepatopenaei) also create feed wastage and inconsistent consumption patterns, disrupting demand cycles. Moreover, small-scale farmers, who represent nearly 80% of shrimp producers, often lack access to finance and training to adopt high-end feeds. Finally, logistical bottlenecks during monsoon seasons and insufficient cold chain infrastructure can affect the distribution of perishable feed products, especially in remote farming areas.

Vietnam Shrimp Feed Market Segmentation

The Vietnam shrimp feed market is segmented based on product type, shrimp species, farming system, and distribution channel.

By product type, the market comprises starter feed, grower feed, and finisher feed. Grower feed dominates the market with nearly **% share due to its extended usage over the shrimp’s lifecycle. Starter feed is gaining traction owing to its role in improving early survival rates and immune development. Regarding shrimp species, vannamei (whiteleg shrimp) is the primary consumer of commercial feed, accounting for over **% of total feed usage in 2023, with black tiger shrimp constituting the remainder. As vannamei shrimp farming expands—reaching ** thousand hectares in 2023—feed formulations are increasingly specialized to cater to their nutritional profiles.

Farming systems also play a significant role; intensive and super-intensive systems, practiced in around ** thousand hectares, consume over **% of total feed volume due to higher stocking densities and feed frequency. Semi-intensive and extensive farms rely more on natural food, using supplemental feed. Distribution-wise, feed is primarily sold via direct dealer networks, which accounted for **% of sales in 2023. However, digital platforms and farmer cooperatives are emerging as alternative channels, supported by improved access to credit and mobile penetration in rural areas.

Vietnam Shrimp Feed Trade (Export & Import) Trend

Vietnam's shrimp feed trade is moderately open, with limited dependence on imports for final products but significant reliance on imported raw materials. In 2024, Vietnam imported over ** thousand tonnes of key feed ingredients such as soybean meal, fishmeal, wheat bran, and additives—primarily from the U.S., Argentina, and India. Import tariffs on raw materials range between **% and **%, while finished shrimp feed enjoys relatively low tariff barriers due to ASEAN trade agreements. Vietnam exported shrimp feed worth US$ ** million in 2023, with primary destinations being Cambodia, Laos, and the Philippines. However, domestic demand remains the priority for local feed manufacturers. Trade has been affected by currency volatility, as the Vietnamese dong depreciated nearly **% against the USD in 2023, marginally raising import costs. In response, several companies have invested in local raw material cultivation and extrusion facilities to mitigate dependency on imports. For instance, GreenFeed Vietnam initiated local soybean contracting schemes covering 5,000 hectares in 2023 to build backward integration.

Influence of Vietnam in Global Shrimp Feed Price

The shrimp feed price landscape in Vietnam has experienced moderate but consistent inflation over the past five years. The average wholesale price of shrimp feed rose from US$ **/kg in 2018 to approximately US$ **/kg in 2023, reflecting a compounded annual growth of 5.3%. This increase is largely attributable to the global uptrend in feedstock prices—fishmeal, for example, averaged US$ ** per metric ton in 2023, up from US$ ** in 2021. Domestic prices also vary based on protein content, with premium feed varieties containing more than 40% protein priced at US$ **/kg or higher. Price volatility is influenced by global trade patterns, oil prices (affecting transport), and seasonal demand surges during peak farming cycles. In the export market, Vietnam's shrimp feed fetches US$ **–**/kg on average due to enhanced formulations tailored for tropical conditions. However, margin pressure on manufacturers persists due to rising input costs and limited pricing flexibility among smallholder buyers, who are often sensitive to even **–**% price hikes.

Vietnam Shrimp Feed Market Competitive Analysis

Vietnam’s shrimp feed industry is moderately consolidated, with a mix of international and local players competing on formulation innovation, price, distribution, and technical services. Leading firms include CP Vietnam, Uni-President, Grobest, GreenFeed Vietnam, Cargill Vietnam, and Skretting. CP Vietnam holds the largest market share—around **% in 2023—thanks to its integrated aquaculture model and extensive dealer network. Uni-President and Grobest follow closely, leveraging strong R&D and feed performance track records. In 2023, De Heus Vietnam partnered with Bel Ga to co-develop probiotic-enriched shrimp feed, while BioMar entered a JV with Viet Uc Group to establish a high-tech feed mill in Dong Nai. Local players like Vinh Hoan Feed and Proconco are also scaling operations through capacity expansion and digital outreach.

List of Key Companies in Vietnam Shrimp Feed Market,

■ CP Vietnam
■ Uni-President
■ Grobest
■ Cargill Vietnam
■ Skretting
■ GreenFeed
■ BioMar
■ De Heus
■ Vinh Hoan Feed
■ Proconco
■ Asia Nutrition Technologies
■ Anova Feed
■ Tongwei Vietnam
■ Mekong Aqua Feed

Future Outlook

Looking ahead, the Vietnam shrimp feed market is set for robust expansion, backed by increasing shrimp production, growing export commitments, and the transition to high-efficiency farming systems. By 2032, the market is forecast to reach US$ ** billion, growing at a steady CAGR of 5.7%. Feed production volume is expected to exceed ** million tonnes, with vannamei shrimp continuing to dominate demand. Policy support, R&D in feed conversion technologies, and improved supply chain digitization will shape future growth. However, success will hinge on addressing key bottlenecks—such as disease management, farmer financing, and input price volatility. Strategic collaborations and investments in local ingredient sourcing are expected to reduce dependency on imports and support sustainable expansion. Vietnam’s ambition to become a premium aquaculture exporter will elevate feed innovation and push for eco-friendly, traceable feed solutions, solidifying its long-term role in the global shrimp feed industry.