Export Structure: Lobster Drives Growth
Whiteleg shrimp continued to dominate with exports reaching USD 344 million, up 15%. Meanwhile, black tiger shrimp exports fell 5% to USD 45 million. Notably, the “other shrimp” category surged by 222%, reaching USD 216 million, largely driven by the sharp increase in lobster exports.
Lobster Exports to China Continue to Surge
China and Hong Kong topped the list of importers of Vietnamese shrimp with a total value of USD 204 million, accounting for 34% of total exports and up 150% year-on-year. This remarkable growth was largely attributed to the continued surge in lobster shipments to this market during the first two months.
Lobster imports into China continued to increase in early 2025, while whiteleg and black tiger shrimp imports have yet to recover significantly—continuing the trend seen at the end of 2024.
Despite a decline in overall seafood imports, shrimp still accounted for 24% of China’s total seafood import volume and 41% in value. Shrimp remains the most popular seafood product on Chinese e-commerce platforms, particularly in affluent cities like Beijing and Shanghai, where consumption is notably higher than in other regions.
US Market Hesitant Amid Tariff Concerns
In the US, shrimp exports reached USD 77 million, up 7%, marking the slowest growth among Vietnam’s major shrimp markets.
Early 2025 saw the Trump administration take office, triggering consumer concerns over possible new tariffs that could raise seafood prices, including shrimp. Combined with inflationary pressures, this has led American consumers to reduce spending on seafood.
Additionally, the Lenten season starting later than usual this year contributed to slower shrimp sales in early 2025.
In the short term, shrimp consumption in the US may continue to face challenges as consumers remain cautious about prices and the broader economic outlook. However, if inflation is brought under control and trade policies stabilize, the demand for shrimp is likely to recover in the longer term.
Vietnam exported USD 64 million worth of shrimp to the EU, up 31% year-on-year. In February 2025, the European shrimp market remained slow with stable prices due to the off-peak winter season.
European consumers are showing increasing preference for clean-label, organic, and ready-to-eat shrimp products. Items such as pre-cooked, peeled, or conveniently packaged shrimp are gaining popularity, in line with modern lifestyles.
Consumption habits vary widely across European regions. In Western Europe (Germany, France), high-quality shrimp with traceable origins are preferred. In Southern Europe (Spain, Italy), consumers favor fresh shrimp for traditional dishes such as paella or grilled seafood. Meanwhile, in Eastern Europe, where the middle class is growing, demand is shifting toward affordable mid-range shrimp products.
Outlook and Challenges
Vietnam's shrimp exports in the first two months of 2025 show signs of solid recovery, particularly in China and Hong Kong. While the US market is showing cautious stability and the EU remains regionally diverse in demand, challenges persist.
Unfavorable weather and disease outbreaks earlier this year have affected shrimp farming, leading to higher production costs and potential supply shortages.
To maintain growth momentum, Vietnamese shrimp businesses are encouraged to focus on value-added products, optimize production costs, and meet the stringent standards of international markets.
