The crustaceans market in Vietnam has shown a steady increase in volume from 256.43 thousand metric tons in 2014 to 544.68 thousand metric tons in 2023. The data indicates significant growth in the initial years, particularly with a 46.88% year-on-year increase from 2014 to 2015. However, growth varied over the years, with a notable decline of 14.22% in 2020 due to external factors such as the global pandemic. The market rebounded with an 18.09% rise in 2021 and an 8.44% increase in 2022, settling at a more modest 2.87% growth in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) has been 3.31%, while the forecasted five-year CAGR through 2028 is slightly lower at 2.16%, predicting a total growth rate of 11.26% over this period.
Future trends to watch for:
• Potential impacts from climate change affecting crustacean habitats and yields
• Technological advancements in aquaculture to improve production efficiency
• Increasing domestic and international demand driven by health trends and gourmet markets
• Policy changes regarding fishing regulations and sustainability efforts
