Vietnam's Shrimp Exports in 2024: Market Context for International Buyers
Vietnam is the world's third-largest shrimp exporter, behind Ecuador and India. In 2024, shrimp exports rebounded after two difficult years (2022–2023) marked by high production costs and soft demand from key markets. Understanding the 2024 market context helps buyers in Japan, the EU, and the US assess current supply conditions and price trends.
Volume and Market Data
Vietnam exported approximately 330,000–350,000 MT of shrimp (all species, processed forms) in 2024, generating an estimated $3.2–3.5 billion USD in export value (preliminary figures). Key destinations:
| Market | Share | Notes |
|---|---|---|
| Japan | ~18% | White shrimp, black tiger, frozen sushi-grade |
| USA | ~15% | HLSO, EZPeel, value-added |
| EU | ~12% | Black tiger fillet, EBI, organic-claim segments |
| South Korea | ~10% | EBI, processed forms |
| China | ~8% | Growing, border trade and bonded zones |
Species and Product Forms
Whiteleg shrimp (Litopenaeus vannamei) accounts for 70–75% of Vietnam's shrimp exports. Black tiger shrimp (Penaeus monodon) remains significant for premium segments, particularly in Japan and EU fine dining.
Common export forms: HOSO (head-on shell-on), HLSO (headless shell-on), PD (peeled deveined), EBI (sushi-grade), EZPeel, and IQF breaded/battered for food service.
2024 Price Environment
Production costs remain elevated compared to Ecuador and India, Vietnam's main competitors. Vietnam's competitive advantage is in value-added and portion-controlled products where labor cost is less decisive. Raw commodity shrimp from Vietnam faces price pressure from Ecuador; cooked, individually portioned, or cuisine-ready formats maintain premiums.
For Buyers Considering Vietnam Shrimp
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