Vietnam’s shrimp industry is experiencing a surge in demand from Southern Europe while maintaining stable performance across other regions of the European Union (EU). By November 15, 2024, Vietnam’s shrimp exports to the EU had surpassed $422 million, marking a remarkable 16% growth compared to the same period last year.
Diverse Preferences Across Europe
European consumers demonstrate varying preferences when it comes to shrimp products:
- Peeled and Deveined Shrimp: Highly popular across the EU for their convenience in meal preparation.
- Breaded Shrimp: A hit in the UK, Germany, and the Netherlands, catering to ready-to-cook trends.
- Fresh Shrimp: Particularly favored in high-end markets like France, Spain, and Italy, showcasing demand for premium quality.
- Sustainably Certified Shrimp: Northern European nations like Germany, Sweden, and Denmark prioritize sustainable sourcing to meet eco-conscious consumer expectations.
Northern Europe shows moderate demand with a focus on sustainability, while Southern Europe dominates as the largest market for Vietnamese shrimp, driven by its seafood tradition and growing import needs. In Southern Europe, 332,000 tons of shrimp were imported in 2023, with Penaeus shrimp accounting for 64% of the total.
Southern Europe at the Forefront
Southern Europe—including Spain, France, Italy, Portugal, and Greece—is the largest shrimp-consuming region in the EU. The region is characterized by its strong seafood tradition and preference for fresh, high-end shrimp. Its growing demand highlights the strategic importance of this market for Vietnamese shrimp exporters.
Meanwhile, other regions like the UK and Germany show a rising interest in breaded shrimp, aligning with consumer trends for ready-to-cook options. Northern Europe, on the other hand, stands out for its commitment to eco-conscious sourcing, favoring sustainably certified shrimp products.
Competitive Position in the EU
The EU remains Vietnam’s fourth-largest shrimp export market, competing against exporters from other Asian and Latin American countries. Vietnam’s ability to meet the EU’s stringent quality and food safety standards has helped solidify its position as a trusted supplier of shrimp, ensuring continuous growth and market expansion.
Shrimp Export Insights
To visually represent the regional trends, the chart below highlights shrimp preferences and import volumes in different parts of Europe:
Breakdown of shrimp preferences and import volumes by region (2023 data)
- Southern Europe: 64% Penaeus shrimp, strong preference for fresh products.
- Northern Europe: High demand for sustainably certified shrimp.
- UK & Germany: Significant market for breaded shrimp.
With the steady rise in shrimp demand across Europe, Vietnam’s shrimp industry is well-positioned to leverage these trends for sustained growth in 2024 and beyond.
Stay updated for more seafood market insights on VN Seafoods!
