China and Hong Kong (China) represent the largest import markets, while the US, Japan, EU, and South Korea also maintain stable purchasing power.
Shrimp exports in the first two months exceeded 600 million USD, a year-on-year increase of 46%. By product category, white leg shrimp maintained the largest share with 344 million USD in value, a 15% increase. Black tiger shrimp exports reached 45 million USD, a 5% decrease. The other shrimp category saw significant growth, worth 216 million USD, a 222% increase.
China and Hong Kong (China) constitute the largest import market for Vietnamese shrimp, with a value exceeding 200 million USD, representing 34% of total shrimp export value and a significant increase of 150% year on year. This impressive growth is primarily attributed to the surge in lobster exports to this market.
During the first two months, shrimp exports to the US reached 77 million USD, a 7% increase year on year, representing the slowest growth among Vietnam’s major shrimp import markets. Meanwhile, shrimp exports to the EU were valued at 64 million USD, a 31% increase year on year.
VASEP believes that shrimp exports show positive recovery signs at the beginning of 2025, especially in China and Hong Kong (China). Shrimp consumption trends remain stable in the US, while the European market increasingly favours clean, organic, and ready-to-eat shrimp products. Shrimp consumption habits in Europe vary significantly by region. In Germany and France, consumers prioritise high-end, clean shrimp with a focus on origin and quality standards, while in Spain and Italy, fresh shrimp are preferred for traditional dishes or grilled seafood.
Despite this growth, the shrimp industry continues to face challenges on raw material supply due to unfavourable weather conditions and disease outbreaks affecting shrimp farming, as well as rising input costs. To sustain growth momentum, businesses must focus on developing ready-to-eat products, optimising production costs, and meeting strict standards in high-end import markets.
