The freshwater fish market in Vietnam has shown an overall positive trend in terms of volume, reaching 1.53 million metric tons in 2023. The market exhibited fluctuations from 2014 to 2023, with significant growth in certain years such as 2015 (13.15%) and 2021 (16.07%), while facing setbacks in others, especially in 2020 (-15.79%). The Compound Annual Growth Rate (CAGR) over the past five years stands at 1.29%, indicating steady growth. Forecasts predict the market volume to continue rising, reaching 1.63 million metric tons by 2028, with an anticipated CAGR of 1.05% over the next five years.
Future trends to watch for:
- Technological advancements in aquaculture that could boost productivity and sustainability.
- Government regulations and support for sustainable fishing practices.
- Potential impacts of climate change on freshwater ecosystems and fish populations.
- Consumer demand shifts towards more sustainable and locally sourced fish products.