Research firm IBISWorld projects that online grocers’ revenue will increase by 8.3 percent in 2012 to reach USD 6 billion. Fresh seafood sales will generate an estimated USD 154.5 million in revenue for the online grocery industry in 2012, while frozen seafood sales will account for around USD 90 million in this year, according to IBISWorld. In fact, meat, fish, poultry, and deli items account for 14 percent of all online grocery sales.
“We are seeing growth in the seafood segment, partly due to health concerns. Consumers are becoming more health conscious and seafood is a healthier alternative to red meat,” said Nikoleta Panteva, senior analyst with IBISWorld.
IBISWorld also found that the seafood wholesaling industry will grow by 7.6 percent to USD 13.5 billion in 2012, despite seafood price hikes. That is a terrific signal for the industry, which realized a revenue drop of 13.8 percent in 2010, due in part to the effects from the BP oil spill and to decreased consumer spending. “Distance from the BP oil spill and recovering consumer spending will boost revenue [in 2012],” according to a statement from IBISWorld’s “Fish & Seafood Wholesaling in the U.S.” report.
Meanwhile, IBISWorld projects revenues for the online grocery industry to grow at an annual rate 9.5 percent, reaching USD 9.4 billion in 2017. “As unemployment decreases, people are going to have less time to go grocery shopping at their leisure,” Panteva said.
From 2007 to 2012, online grocery sales grew at a much smaller rate of 1.2 percent per year, hampered by a 2.6 percent drop in 2008 and a 4.1 percent decline in 2009. However, since early 2010, industry performance has improved.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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