Deep Processing Creates Competitive Advantage for Vietnam's Shrimp Industry

In 2024, Vietnam's shrimp exports generated $3.9 billion USD, with deeply processed shrimp products contributing over 40% of the total export value. Vietnam and Thailand are recognized as global leaders in shrimp deep processing technology, positioning them ahead of competitors. This sector is continuously diversifying its product range, with Vietnam excelling in value-added products like breaded shrimp, steamed shrimp, and shrimp dumplings. The United States, a major importer of shrimp, saw Vietnam's breaded shrimp exports surge by 33% in 2024. While Ecuador dominates the shell-on shrimp segment, Vietnam is steadily increasing its market share in value-added categories like breaded and steamed shrimp. This success is attributed to Vietnam's advanced processing capabilities and the increasing global demand for convenient, ready-to-cook products. Experts predict continued growth in these categories, allowing Vietnam to further expand its presence in the US and other key markets. Deep processing not only enhances product value but also allows Vietnam to compete effectively against countries offering lower-priced raw shrimp.