Vietnam achieves record monthly shrimp export value of $498 million in October 2025, with China and CPTPP markets driving unprecedented growth.
The global frozen shrimp market is poised for a period of strong growth, with its value forecasted to soar from approximately $18.7 billion in 2025 to nearly $32.8 billion by 2035, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). This represents a compound annual growth rate of roughly 5.8 percent over the next decade .
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 percent increase over the same period last year and achieving the highest monthly turnover since the beginning of the year. Cumulative turnover from January through October hit $3.9 billion, up 22 percent compared to 2024 .
The surge is significantly boosted by strong demand in major markets. China and Hong Kong emerged as the brightest spot in the first ten months of 2025, with exports reaching $1.1 billion-an increase of 64 percent, the strongest rise among all markets. In October alone, this market recorded $140 million in turnover .
The CPTPP bloc also demonstrated robust performance, reaching over $1 billion in ten months, up 33 percent year-on-year. This region, which includes Japan, Canada, and Australia, provides stability for Vietnamese exporters. Meanwhile, the US market reached $702 million in ten months, up 9 percent, and the EU reached $487 million, a 20 percent increase .
Key market drivers and product trends
The global market expansion is primarily driven by growing consumer demand for convenient protein sources, especially in developed markets across North America and Europe. Expanding shrimp farming capacity and advancements in processing technology such as Individual Quick Freezing (IQF) have also played pivotal roles .
In terms of market segments, retail distribution accounted for approximately 58.7 percent of the market share in 2025. Peeled and deveined shrimp was the leading product type at around 46.3 percent, while supermarkets and hypermarkets dominated distribution channels with a 41.9 percent share. Major companies leading the market include Thai Union Group, Charoen Pokphand Foods, and Sea Value .
Whiteleg shrimp continues to be the driving force in Vietnam's product structure, accounting for nearly 65 percent of total turnover and reaching $2.5 billion in ten months. Black tiger shrimp exports remained stable at $385 million, representing nearly 10 percent of total turnover .
Challenges amid optimistic outlook
While the outlook remains positive, the market faces notable challenges. Increasing input costs-including seeds, feed, and logistics-are pressuring profit margins. Growing demands for traceability and sustainability certification are also reshaping competitive dynamics .
The final quarter of 2025 is forecast to see a slowdown in Vietnamese exports, primarily due to pressure from tariffs and trade defense measures from the United States, Vietnam's second-largest market. To capitalize on emerging opportunities, industry participants must invest in technology, supply chain management, and quality standards while ensuring sustainability and traceability .
As global demand for frozen shrimp continues to rise, Vietnam's ability to navigate these challenges while leveraging its processing advantages and geographical proximity to key Asian markets will determine whether it can sustain its export momentum in the years ahead.
