While the outlook is positive, the market faces challenges, including increasing input costs (seeds, feed, logistics)

Global Frozen Shrimp Market Heats Up Amid Vietnam's Export Surge

VIET NAM
Thursday, November 20, 2025, 09:00 (GMT + 9)

Robust Growth Forecasted as Vietnam Achieves Highest Monthly Export Value of $498 Million in October 2025

The global frozen shrimp market is poised for a period of strong growth, with its value forecasted to soar from approximately $18,742.6 million in 2025 to $32,847.3 million in 2035, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). This represents a Compound Annual Growth Rate (CAGR) of approximately 5.8% over the next 10 years.

Vietnam's Exports Reach New Heights

Mirroring this bullish global outlook, Vietnam's shrimp exports have shown remarkable performance. In October 2025, exports reached $498 million, marking a 26% increase over the same period last year and achieving the highest monthly turnover since the beginning of the year. Cumulative turnover from the start of the year through October hit $3.9 billion, up 22% compared to 2024.

Key Market Drivers and Segments

The global market expansion is primarily driven by:

• Growing consumer demand for convenient protein sources, especially in developed markets like North America and Europe.

• Expanding shrimp farming capacity and advancements in processing technology like Individual Quick Freezing (IQF).

In 2025, the Retail Distribution segment accounted for the leading application, with about 58.7% market share, while Peeled & Deveined shrimp was the leading product type at about 46.3%. Supermarkets & hypermarkets dominated the distribution channels, holding a 41.9% market share.

Major companies leading the market share include Thai Union Group, Charoen Pokphand Foods, and Sea Value. Asia-Pacific, North America, and Europe are identified as key growth areas.

China and CPTPP Fuel Vietnamese Sales

The surge in Vietnam's exports is significantly boosted by strong demand in major markets, particularly China and the CPTPP bloc.

• China & Hong Kong was the brightest spot in the first 10 months of 2025, with exports reaching $1.1 billion, an increase of 64%—the strongest rise among markets. In October alone, this market recorded $140 million in turnover.

• The CPTPP bloc reached over $1 billion in 10 months, up 33% over the same period, with October accounting for $121 million. This region, which includes Japan, Canada, and Australia, provides stability for businesses.

• The US market reached $702 million in 10 months, up 9%, recording $114 million in October.

• The EU reached $487 million in 10 months, a 20% increase, recording $53 million in October.

• Notably, Taiwan experienced a sharp surge in October, with exports reaching $12 million, up nearly 80% compared to October 2024.

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Product Trends and Outlook

Whiteleg shrimp continues to be the driving force in Vietnam's product structure, accounting for nearly 65% of the total turnover, reaching $2.5 billion in 10 months. Black tiger shrimp exports remained stable, reaching $385 million (nearly 10% of total turnover).

While the outlook is positive, the market faces challenges, including increasing input costs (seeds, feed, logistics) and growing demands for traceability and sustainability certification. The final quarter of the year is forecast to see a slowdown in Vietnamese exports, primarily due to pressure from tariffs and trade defense measures from the US, Vietnam's second-largest market. To capitalize on the opportunity, participants must invest in technology, supply chain management, and quality standards while ensuring sustainability and traceability.

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