| Product Code: ETC387030 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
Vietnam Mackerel market currently, in 2023, has witnessed an HHI of 3708, Which has increased slightly as compared to the HHI of 2818 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The mackerel market in Vietnam has experienced steady growth in recent years. Mackerel is a popular fish in Vietnamese cuisine, and its affordability makes it a staple for many households. The demand for mackerel, both fresh and processed, has been rising, driven by the country`s growing population and increasing consumer preferences for seafood. The market is characterized by a mix of local and imported mackerel products, with local suppliers dominating the segment. There is also a growing interest in value-added mackerel products, such as canned and smoked mackerel, which cater to both domestic and export markets.
The Vietnam mackerel market is thriving due to various driving factors. Firstly, mackerel is considered a cost-effective and protein-rich seafood option, making it popular among consumers. Its versatility in various cuisines has contributed to its increasing demand. Secondly, Vietnam strategic location in the South China Sea provides access to abundant mackerel stocks, ensuring a consistent supply. Improved processing techniques and packaging have extended the shelf life of mackerel products, further enhancing market growth. Additionally, the export potential of mackerel has boosted the industry, with Vietnam emerging as a key supplier to both regional and international markets.
The Vietnam mackerel market faces several challenges that impact its growth and sustainability. One significant challenge is overfishing, which threatens the availability of mackerel stocks in Vietnamese waters. Overfishing can lead to reduced catches and economic instability for the fishing industry. Additionally, competition from imported mackerel products can put pressure on the domestic market. Ensuring sustainable fishing practices and implementing stricter regulations are essential to address these challenges and maintain a healthy mackerel market in Vietnam.
The Vietnam mackerel market faced fluctuations in supply and pricing during the COVID-19 pandemic. Import and export restrictions, along with supply chain disruptions, impacted mackerel products. The market also experienced fluctuations in demand, influenced by changes in consumer spending patterns and preferences. Mackerel suppliers in Vietnam adapted by exploring alternative sourcing options and distribution channels. As the situation improved, the market began to stabilize, although price volatility remained a concern.
The Vietnam mackerel market is served by companies like Bien Dong Seafood Company and Thuan Phuoc Seafoods and Trading Corporation. Bien Dong Seafood Company specializes in mackerel processing and export, offering a variety of frozen mackerel products to domestic and international markets. Thuan Phuoc Seafoods and Trading Corporation also plays a notable role in the mackerel market with a focus on product quality and customer satisfaction.