According to the report analysis, ‘Vietnam Fishery Industry Comprehensive Report Q1/2020’
states that in the Vietnam fishery market there are several corporates which
presently operating more significantly for leading the fastest market growth
and dominating the handsome value of market share around the region throughout
the near future while delivering the better consumer satisfaction, decreasing
the associated prices, spreading the awareness related to the fishery,
developing the applications of the production technologies, implementing the
profitable strategies and studying the strategies of the competitor’s includes Minh
Phu Corporation-MPC, VinhHoan Corporation-VHC, BIEN DONG SEAFOOD, I.D.I
International Development & Investment Corporation, Hung Vuong Joint Stock
Company-HVG, Quoc Viet Seafood Processing and Export Company Limited, Nam Viet
Joint Stock Company, Soc Trang Seafood Joint Stock Company-STAPIMEX:, SAO TA
FOODS JOINT STOCK COMPANY, Cuu Long Fish Joint Stock Company and several
others.
In addition, the worldwide production of aquaculture and fishing increases
with a CAGR of 0.4% / year in the duration of 2013-2020f. Worldwide seafood introduction
in 2019 is predicted at 178.54 million tons, an augment of 0.12% compared to
2018 while requirement growth slows down. In the duration of 2013-2019e, the
annual dual growth rate of fisheries influences 1.77% while the annual dual populace
growth rate is 1.2%.
In Vietnam, the fishing establishment in 2019 was predicted at
3,768.3 thousand tons, an augment of 4.5% compared to the same duration last
year. Aquaculture introduction in 2019 was predicted at 4,432.5 thousand tons,
up 6.5% over the similar duration last year. Total export turnover in 2019
reached USD 8,544 million, a deduction of 2.8% associated to 2018.
Not only has this, during the recent years, an exponential augment
has been observed in the worldwide population, which has influenced the food
requirement. This in turn is predicted to boost fish farming around the world.
Furthermore, the National Fisheries Development Board of India encourages cage
and fresh water fish farming, which propels the growth of the worldwide fishery
market. Moreover, the technological innovations in fishing equipment decrease
the complications and exertions in fishing and aqua farming, there by accompanying
the fish farming industry.
In addition, the control of fish reproduction, genetic advancement
in finfish, management of the chromo some sets in shellfish, and control
parasitic syndromes in fish act as the foremost drivers of the fishery market.
In addition, the effective growth in the health-conscious populace and augment
in requirement for fish influence the fishery
market growth, as it significantly serves as the primary source of the
protein. However, rise in temperature and augment in water pollution restrict
the growth of the fishery market. On the contrary, the positive evolution in
inland fishing and usage of more sustainable technology in fish farming are predicted
to offer lucrative opportunities for fishery market enlargement. Competent fish farming technology
such as intensive closed systems has supported in augmenting the profitability,
and is predicted to further boost the market growth. Therefore, in the near
years, it is predicted that the market of fishery will increase around the
globe more actively.
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