In January 2025, Vietnam's shrimp exports to the UK reached over 16 million USD, an 8% increase compared to the same period last year. The UK is the sixth-largest individual market for Vietnam’s shrimp imports, accounting for 5.5% of the total shrimp exports to various markets. Shrimp also holds the largest share (70%) in Vietnam’s total seafood exports to the UK.
Key shrimp export products from Vietnam to the UK include peeled and tail-off white leg shrimp, frozen white leg shrimp (PD), steamed or boiled frozen white leg shrimp, fresh or frozen white leg shrimp, and battered white leg shrimp.
In recent years, Vietnam's shrimp exports to the UK have been unstable, with fluctuations in growth. However, the UK is still considered an important market for Vietnamese shrimp, with various trade benefits in the bilateral trade relations between the two countries. From 2018 to 2024, shrimp exports to the UK peaked in 2020 with over 243 million USD, followed by a downward trend, reaching the lowest point in 2023. In 2024, shrimp exports to the UK showed signs of recovery, reaching over 212 million USD.
By January 2025, shrimp exports to the UK continued to maintain the growth momentum of 2024.
Currently, Vietnam has signed two new-generation Free Trade Agreements (FTAs) with the United Kingdom: the CPTPP and the UKVFTA. The combination of these agreements provides favorable conditions for businesses in both countries to maximize trade and investment opportunities, including shrimp exports to the UK.
Shrimp accounts for approximately 10% of total seafood consumption in the UK. In the restaurant or foodservice sector, shrimp is a common ingredient, with around 61% of businesses in this sector using shrimp. Additionally, shrimp is popular in Indian and Chinese restaurants in the UK, used in dishes such as wraps, soups, dumplings, and spring rolls.
In the UK market, Vietnam remains the largest shrimp supplier. However, Vietnamese shrimp faces strong price competition from shrimp from India and Ecuador.
With the tariff advantages offered by the two FTAs, Vietnamese shrimp has a competitive edge over other trade partners such as China, Thailand, Malaysia, Indonesia, the Philippines, India, Brazil, and others. To benefit from the preferential tariffs under the agreements, Vietnamese seafood products must prove their origin, meet sustainability standards, and adhere to social responsibility requirements.
UK consumers tend to choose products that meet high standards set by UK and EU authorities regarding product quality, origin, sustainability, environmental friendliness, and convenience. Therefore, to increase market share in the UK for seafood in general and shrimp in particular, Vietnamese products must meet the requirements for quality, packaging, appearance, and taste. Companies should also invest in improving production capacity, quality management, and carefully research the market's regulations and standards.
Top 5 Vietnamese Shrimp Exporters to the UK in 2024:
- Soc Trang Seafood Joint Stock Company
- Thong Thuan Cam Ranh Seafood Joint Stock Company
- Trang Seafood Joint Stock Company
- C.P. Vietnam Livestock Joint Stock Company - Hue Branch
- Tai Kim Anh Seafood Processing Joint Stock Company