CodViet
Entering Vietnam: The Market Potential for Fresh Norwegian Farmed Cod
Commercial fisheries for many wild species have reached sustainable harvesting limits, leaving little scope for substantial increases in annual catches. This means that the growing global demand for seafood must be met largely through aquaculture. Consequently, efforts are now being made both to increase production of existing farmed species and to introduce new ones. One such new farmed species is Atlantic cod (Gadus morhua). Wild-caught cod has been a key species in the Norwegian fishing industry for centuries. However, the total Norwegian cod quota north of the 62nd parallel has fluctuated, as have the attempts to domesticate the species.
So far, limited attention has been given to understanding the market dynamics of farmed cod. To ensure future market success, it is essential to assess market potential proactively before large-scale production begins. Asia, with its vast population and strong preference for seafood, offers a promising opportunity for Norwegian farmed cod. Within Asia, Vietnam represents a high-priority market because of its population of approximately 102 million, high per capita seafood consumption, and growing demand for premium products.
The purpose of this study is to identify the opportunities and barriers associated with introducing fresh Norwegian farmed cod into Vietnam’s hotel, restaurant and catering (HoReCa) market. Specifically, it examines chefs’ perceptions of product quality and its suitability for different cuisines and the Vietnamese food culture. The study also investigates key purchasing criteria, attitudes towards farmed versus wild cod, and competitiveness with relevant local fish species.
Vietnam is an emerging market where fresh cod is not traditionally consumed and must compete with more familiar seafood species. Examining this market, therefore, provides insight into whether fresh Norwegian farmed cod can establish a distinct market position and which factors may facilitate or constrain its adoption. The findings are intended to support the aquaculture industry and other stakeholders in making informed strategic and commercial decisions. Identifying suitable new markets is particularly important given the anticipated expansion of Norwegian cod farming and the need to accommodate future production growth.
