Vietnam's giant shrimp is sought after by rich Chinese, sold for 204 million USD in 2 months of 2025

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first two months of 2025, Vietnam's shrimp exports recorded positive signs with strong growth in a number of important markets. China and Hong Kong were the largest import markets, while the US, Japan, the EU and South Korea also maintained stable purchasing power. In the first two months of this year, Vietnam's shrimp exports reached 605 million USD, up 46% over the same period in 2024.

In terms of product structure, white-leg shrimp continued to account for the largest proportion with an export value of 344 million USD, up 15% while black tiger shrimp reached 45 million USD, down 5%. The "other shrimp" group reached an export value of 216 million USD, up 222%. In the other shrimp group, lobster exports continued to increase strongly.

Lobster exports to China continue to increase strongly

China & Hong Kong are the largest import markets for Vietnamese shrimp with a value of 204 million USD, accounting for 34% of total shrimp exports to markets and a sharp increase of 150% over the same period last year. This impressive growth is mainly due to the fact that lobster export sales to this market continued to increase strongly in the first 2 months of the year.

Lobster imports into China continue to increase in the early part of 2025 while whiteleg shrimp and tiger shrimp imports have yet to recover strongly. This trend continues in late 2024.

Despite the decline in imports, shrimp still accounts for 24% of China's total seafood import volume and 41% of the value. Shrimp is the most popular seafood item on online shopping platforms in China.

People in wealthy cities like Beijing and Shanghai tend to consume more shrimp than other areas.

Fishermen harvest lobsters in Khanh Hoa. Photo: PV

US shrimp consumption hit by concerns over President Donald Trump's tariff decisions

Although shrimp consumption in the US has been affected by concerns about President Donald Trump’s tariff decisions, shrimp exports to the US in the first two months of this year reached US$77 million, up 7%. Shrimp exports to the US recorded the most modest growth among Vietnam’s major shrimp import markets.

As the Trump administration enters 2025, American consumers are concerned that the uncertain import tariffs could increase the price of seafood products, including shrimp. This, combined with inflation, has led to people spending less on seafood, including shrimp. The later-than-usual start of Lent also contributed to the decline in shrimp sales in the early part of the year.

According to VASEP experts, shrimp consumption in the US may continue to face challenges in the short term. Consumers may limit spending on seafood products due to concerns about prices and the economic situation. However, if factors such as inflation are controlled and import taxes are stable, shrimp consumption demand may adjust to recover in the long term. In addition, the North American Seafood Expo in Boston, taking place from March 16-18, 2025, promises to be an opportunity for shrimp businesses to have more strategies to boost shrimp exports to the US market.

Meanwhile, shrimp exports to the EU reached 64 million USD in the first two months of this year, up 31% over the same period. In February 2025, the European shrimp market was slow with stable prices. Since winter is not the peak consumption season, demand did not increase significantly.

European consumers increasingly prefer clean, organic and processed shrimp products. Processed shrimp products such as steamed shrimp, peeled shrimp or convenient packaged dishes have also recorded a sharp increase in consumption, in line with modern lifestyles.

Shrimp consumption habits in Europe differ significantly between regions. In Western Europe (Germany, France), consumers prioritize high-quality, clean shrimp, paying attention to origin and quality standards. In contrast, in Southern Europe (Spain, Italy), fresh shrimp is preferred for traditional dishes such as paella or grilled seafood. Meanwhile, Eastern Europe, with its growing middle class, tends to favor mid-priced, affordable shrimp products.

Vietnam's shrimp exports in the first two months of 2025 showed signs of recovery, especially in the Chinese and Hong Kong markets. However, according to VASEP, the shrimp industry still faces challenges in raw material supply due to unfavorable weather and disease affecting shrimp farming activities at the beginning of this year and increasing input costs for shrimp farming. To continue to maintain growth momentum, businesses need to promote pre-processed products, optimize production costs and meet strict standards from import markets.

At the Vietnam International Shrimp Technology Exhibition - Vietshrimp 2025, Deputy Minister of Agriculture and Environment - Phung Duc Tien expressed his confidence that the shrimp industry will achieve its goals. With a shrimp farming area of ​​750,000 hectares, the output of all types of shrimp will reach 1.3-1.4 million tons and the shrimp export turnover in 2025 will be from 4.0 - 4.3 billion USD. According to the Deputy Minister, previously, in 2024, the Vietnamese shrimp industry achieved an export turnover of over 4 billion USD, an increase of 14% compared to 2023.

Source: Vietnam.vn