Vietnam Shrimp Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 2.33% (2024-2032)
The Vietnam shrimp market is thriving, driven by strong global demand, advanced farming techniques, and the country’s position as one of the world’s leading shrimp exporters, supported by favorable trade policies and sustainable aquaculture practices. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 2.33% from 2024 to 2032.
Vietnam Shrimp Market Trends and Drivers:
The Vietnam shrimp market is experiencing an increasing focus on sustainability and eco-friendly production practices. As global consumers become environmentally conscious, there is a growing demand for responsibly farmed shrimp. Vietnam, one of the largest shrimp exporters in the world, is responding to this trend by adopting sustainable farming practices, including the use of certified organic and eco-labeled shrimp.
Technological advancements coupled with the increasing use of automated systems for monitoring water quality, feeding, and shrimp growth is also influencing market growth. Another notable trend is the shift toward value-added shrimp products, such as frozen, ready-to-eat, or flavored shrimp, which cater to the growing demand for convenient and high-quality food options. Moreover, changing consumer preferences, particularly in Asia-Pacific and Western markets, are fueling the demand for premium shrimp products with enhanced flavor and texture.
The Vietnam shrimp market is primarily driven by the strategic positioning of the country in terms of its favorable climate and abundant coastline, which support both extensive and intensive shrimp farming practices. These conditions have enabled Vietnam to maintain a competitive edge in global shrimp production, particularly in the export market, where shrimp is one of the top agricultural exports of the country. Another significant driver is the increasing global demand for shrimp, owing to rising consumer preference for seafood, particularly in developed markets such as the United States, Japan, and the European Union.
Shrimp is viewed as a versatile and nutritious source of protein, and its popularity has risen in global markets, particularly among health-conscious consumers. Additionally, the shrimp industry of Vietnam is benefiting from its ability to meet stringent international food safety and quality standards. The shrimp farms have adopted practices that comply with international certifications, such as the Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP), which are essential for accessing export markets with high demand for sustainable and traceable seafood.
These certifications enhance the marketability of Vietnamese shrimp and ensure that the industry is prepared to meet changing consumer preferences and regulatory requirements. Apart from this, the Vietnam government has also been proactive in supporting the shrimp industry through various policies and trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA). These agreements have expanded Vietnam’s shrimp trade, reinforcing the country’s position as a global leader in shrimp production.
Vietnam Shrimp Market Segmentation:
The report provides an analysis of the key trends in each segment of the Vietnam shrimp market size, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product and end-use industry.
Environment Insights:
- Farmed Shrimp
- Wild Shrimp
Species Insights:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Shrimp Size Insights:
- <21
- 21-25
- 26-30
- 31-40
- 41-50
- 51-60
- 61-70
- >70
Distribution Channel Insights:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
- Others
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
For an in-depth analysis, you can refer sample copy of the report:
https://www.imarcgroup.com/vietnam-shrimp-market/requestsample
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024- 2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the report’s scope, we can provide it to you as a part of the customization.
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