Vietnam Shrimp Market

Market Overview: 

Vietnam shrimp market size is projected to exhibit a growth rate (CAGR) of 2.33% during 2024-2032. Increasing global demand for seafood, favorable domestic conditions for shrimp farming, government support for sustainable practices, international trade agreements, escalating environmental concerns, and evolving consumer preferences represent some of the key factors fueling the market growth.

Shrimp is a crustacean that belongs to the Decapoda order, characterized by its elongated body and ten legs. It is harvested predominantly from saltwater sources, such as oceans and seas, but it can also be found in freshwater environments. The processing of shrimp typically involves several steps, including catching, cleaning, and deveining. Following the harvest, a common practice involves sorting and washing shrimp before undergoing flash-freezing to maintain their freshness and flavor. Shrimp is renowned for its nutritional value, characterized by high protein content, low-calorie count, and essential nutrients such as vitamin B12, iodine, and selenium. Additionally, it contains omega-3 fatty acids, which are known for their potential health advantages, including enhanced cardiovascular health and cognitive function. Shrimp boasts an array of culinary uses, making it a versatile ingredient in various cuisines worldwide. It can be grilled, sautéed, boiled, or used in soups, stews, and salads. Moreover, it is often featured in sushi and sushi rolls. Currently, different types of shrimp are available, with the most common varieties being white shrimp, brown shrimp, pink shrimp, and rock shrimp.  

Vietnam Shrimp Market Trends: 

The Vietnam shrimp market is influenced by several key drivers, such as the country’s competitive advantage in shrimp farming, with a vast coastline and favorable climate. Additionally, the government’s supportive policies and initiatives encourage sustainable aquaculture practices, further enhancing the market growth. Furthermore, the ongoing trend of seafood consumption worldwide, coupled with the expansion of international trade agreements, is stimulating the market growth. In line with this, investment in research and development (R&D) activities to combat diseases and environmental concerns related to shrimp farming practices, such as mangrove deforestation and water pollution, are propelling the market growth. Additionally, evolving consumer preferences for eco-friendly and organic shrimp products and stringent regulations in key export markets are fueling the market growth. Moreover, consumer preferences for healthier and protein-rich diets drive the consumption of shrimp, which is facilitating the market growth. Apart from this, partnerships and collaborations with international organizations and businesses and innovations in processing and packaging techniques are providing a considerable thrust to the market growth across the country.

Vietnam Shrimp Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on environment, species, shrimp size, and distribution channel.

Environment Insights:

• Farmed Shrimp
• Wild Shrimp
   

The report has provided a detailed breakup and analysis of the market based on the environment. This includes farmed shrimp and wild shrimp.

Species Insights:

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others
   

A detailed breakup and analysis of the market based on the species have also been provided in the report. This includes penaeus vannamei, penaeus monodon, macrobrachium rosenbergii, and others.

Shrimp Size Insights:

• <21 
• 21-25
• 26-30  
• 31-40
• 41-50
• 51-60
• 61-70
• >70
   

The report has provided a detailed breakup and analysis of the market based on the shrimp size. This includes <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, and >70.

Distribution Channel Insights:

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online Sales
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes hypermarkets and supermarkets, convenience stores, hotels and restaurants, online sales, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key players include:

• Ca Mau Seafood Processing and Service Joint Stock Corporation
• Minh Phu Seafood Joint Stock Company
• Quoc Viet Co. Ltd.
• Sao Ta Foods Joint Stock Company
• Seaprimexco Vietnam
   

 (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Vietnam Shrimp Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam shrimp market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam shrimp market?
• What is the breakup of the Vietnam shrimp market on the basis of environment?
• What is the breakup of the Vietnam shrimp market on the basis of species?
• What is the breakup of the Vietnam shrimp market on the basis of shrimp size?
• What is the breakup of the Vietnam shrimp market on the basis of distribution channel?
• What are the various stages in the value chain of the Vietnam shrimp market? 
• What are the key driving factors and challenges in the Vietnam shrimp?
• What is the structure of the Vietnam shrimp market and who are the key players?
• What is the degree of competition in the Vietnam shrimp market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam shrimp market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam shrimp market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam shrimp industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.