Vietnam - Frozen Fish and Seafood - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Market for Frozen Fish and Seafood 2024
Market Size for Frozen Fish and Seafood in Vietnam
The Vietnamese frozen fish and seafood market expanded modestly to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Frozen fish and seafood consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.
Production of Frozen Fish and Seafood in Vietnam
In value terms, frozen fish and seafood production rose to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Frozen fish and seafood production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.
Exports of Frozen Fish and Seafood
Exports from Vietnam
After two years of growth, shipments abroad of frozen fish and seafood decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then reduced in the following year.
In value terms, frozen fish and seafood exports dropped to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced in the following year.
Exports by Country
The United States (X tons) was the main destination for frozen fish and seafood exports from Vietnam, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. China (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and China (X% per year).
In value terms, the United States ($X) remains the key foreign market for frozen fish and seafood exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with an X% share of total exports. It was followed by China, with a X% share.
From 2012 to 2023, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and China (X% per year).
Export Prices by Country
The average frozen fish and seafood export price stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Fish and Seafood
Imports into Vietnam
In 2023, after two years of growth, there was significant decline in overseas purchases of frozen fish and seafood, when their volume decreased by X% to X tons. Over the period under review, imports showed a noticeable slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.
In value terms, frozen fish and seafood imports contracted to $X in 2023. In general, imports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Norway (X tons), Chile (X tons) and the United States (X tons) were the main suppliers of frozen fish and seafood imports to Vietnam, with a combined X% share of total imports. The Philippines, India, the UK, Poland, Denmark, Turkey, Malaysia, the Netherlands, New Zealand and Ecuador lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest frozen fish and seafood suppliers to Vietnam were Norway ($X), Chile ($X) and India ($X), with a combined X% share of total imports. The United States, the Philippines, Ecuador, Turkey, Denmark, Poland, the UK, New Zealand, Malaysia and the Netherlands lagged somewhat behind, together comprising a further X%.
Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average frozen fish and seafood import price amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for frozen fish and seafood in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10201330 - Frozen whole salt water fish
- Prodcom 10201360 - Frozen whole fresh water fish
- Prodcom 10201600 - Frozen fish livers and roes
- Prodcom 10201500 - Frozen fish meat without bones (excluding fillets)
- Prodcom 10201400 - Frozen fish fillets
- Prodcom 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
- Prodcom 10203200 - Molluscs (scallops, mussels, cuttle fish, squid and octopus), frozen, dried, smoked, salted or in brine
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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