Vietnam Shrimp Market to Grow with a CAGR of 3.8% through 2030

Vietnam’s shrimp market is expanding due to rising global seafood demand, sustainable farming adoption, technological advancements, government support, and diversification into value-added products, boosting competitiveness and export potential across premium markets.

According to TechSci Research report, “Vietnam Shrimp Market – By Region, Competition Forecast & Opportunities, 2030F”, Vietnam Shrimp Market was valued at USD 2.92 Billion in 2024 and is expected to reach USD 3.65 Billion by 2030 with a CAGR of 3.8% during the forecast period. The Vietnam shrimp market is evolving into a more sophisticated, efficiency-driven, and quality-focused industry as producers adapt to shifting global dynamics and internal structural changes. Beyond the commonly cited factors, the market is benefiting from a growing culture of collaboration between research institutions, industry associations, and private enterprises to develop disease-resistant broodstock, improve farming methods, and optimize feed formulations for better growth and sustainability. Increasing domestic consumption is also playing a greater role, with rising middle-class incomes and urbanization fueling demand for premium shrimp in restaurants, hotels, and modern retail outlets. Exporters are diversifying product forms, targeting specific culinary trends such as ready-to-cook formats for Western markets and live or chilled shrimp for Asian buyers, enabling greater alignment with end-user preferences. On the challenge side, the industry faces rising input costs for feed, labor, and energy, which put pressure on profit margins, particularly for smaller operators with limited economies of scale. Exporters must also navigate fluctuating currency exchange rates, which can influence competitiveness in global markets.

Furthermore, compliance with increasingly complex import regulations—covering food safety, traceability, labor practices, and environmental impact—demands greater investment in monitoring systems and documentation processes. Seasonal labor shortages during peak harvest and processing periods add another operational constraint, potentially affecting consistency in meeting shipment schedules. While climate adaptation and technological adoption are progressing, inconsistent access to capital and training among smaller-scale farmers could slow the pace of modernization. Overall, Vietnam’s shrimp sector is at a transitional stage where its long-term competitiveness will depend on balancing cost efficiency, quality assurance, and innovation, while also strengthening resilience against global market volatility and tightening international standards.

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The Vietnam Shrimp market is segmented into species, source, distribution channel and region.

Based on species, the market is segmented into Penaeus vannamei (whiteleg shrimp), Penaeus monodon (black tiger shrimp), Macrobrachium rosenbergii (giant freshwater prawn), and other shrimp species. Penaeus vannamei has become the dominant species in Vietnam’s aquaculture industry due to its faster growth rate, high survival percentage, adaptability to intensive farming systems, and strong demand in international markets. Farmers favor vannamei because it offers shorter production cycles, enabling multiple harvests per year and better utilization of resources. Penaeus monodon, while historically the cornerstone of Vietnam’s shrimp exports, occupies a smaller share today due to higher susceptibility to disease and longer grow-out periods. However, it retains a premium market niche, especially in regions that value its larger size, stronger flavor, and firmer texture. Macrobrachium rosenbergii remains a relatively small segment, focusing on domestic consumption and niche export markets, as it requires different farming conditions and commands a distinct culinary profile. The others category includes indigenous and specialty shrimp varieties farmed or caught in small volumes, often catering to regional tastes and traditional dishes. Each species segment is shaped by a combination of farming viability, market price trends, disease resilience, and specific demand patterns from importers and domestic buyers.

Based on distribution channel, online is emerging as the fastest-growing distribution channel for shrimp in Vietnam, propelled by digital transformation, rising e-commerce adoption, and shifting consumer behavior. The growth of online seafood sales is driven by urban consumers’ increasing comfort with purchasing fresh and frozen foods online, facilitated by reliable cold-chain logistics and improved delivery speed. The COVID-19 pandemic accelerated this trend, as many households turned to online platforms for safe and convenient access to groceries, including seafood. Vietnamese shrimp producers and processors are capitalizing on this by creating direct-to-consumer e-commerce platforms, partnering with established marketplaces, and utilizing social media channels for marketing and sales. Online retail allows for more transparent product storytelling, where producers can highlight origin, farming practices, certifications, and freshness guarantees—attributes that are increasingly important to younger, health-conscious buyers. Additionally, digital sales channels enable more targeted promotions, subscription models for regular deliveries, and bundled offers that can build customer loyalty. The ability to bypass intermediaries also improves profit margins for producers while giving consumers better prices and fresher products. The online retail segment’s expansion is supported by nationwide improvements in internet penetration, mobile payment systems, and last-mile delivery infrastructure. With consumer trust in online perishable purchases steadily rising, this segment is expected to see double-digit growth rates in the coming years, outpacing more traditional retail formats.

Major companies operating in Vietnam Shrimp market are:

• Minh Phu Seafood Corporation
• Sao Ta Foods Joint Stock Company (FIMEX VN)
• Soc Trang Seafood Joint Stock Company (STAPIMEX)
• Thuan Phuoc Seafoods and Trading Corporation
• Camimex Group Joint Stock Company
• Nha Trang Seafoods Corporation
• Viet Uc Seafood Corporation
• Seaprimexco Vietnam
• Ca Mau Seafood Processing and Service Joint-Stock Corporation (CASES)
• Quoc Viet Seaproducts Processing Trading and Import-Export Co., Ltd.

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“In recent years, while traditional markets such as the United States, Japan, and the European Union remain crucial for Vietnam’s shrimp exports, there is a clear trend toward diversification into emerging economies and non-traditional markets. This shift is partly driven by the need to reduce dependency on a few high value but highly competitive markets, as well as by the opportunities presented by rising incomes and changing dietary habits in developing regions. Countries in the Middle East, Eastern Europe, South Korea, and China are showing strong appetite for imported shrimp, driven by population growth, increasing urbanization, and the growing popularity of seafood in local cuisines. Vietnam’s participation in multiple free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), provides tariff advantages and smoother market access to several of these emerging destinations.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Vietnam Shrimp Market, By Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others), By Source (Aquaculture, Wild), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Vietnam Shrimp market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam Shrimp market.

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