Frozen Shrimp refer to shrimp and other aquatic products that are processed through advanced freezing technology, aiming to extend their shelf life and maintain the original quality of the product to meet the diversified needs of the market.
According to CRI analysis, Frozen Shrimp are an important part of the global seafood trade, and the main consumer markets include North America, Europe and Asia. The United States is one of the world's largest consumers of Frozen Shrimp in the North American market, especially in supermarkets and the catering industry. In the Asian market, the demand for Frozen Shrimp in countries and regions such as China, Japan, and South Korea is also growing rapidly. In the future, with the accelerated pace of people's lives and the pursuit of healthy diets, the market prospects for Frozen Shrimp will become more and more broad.
Vietnam has a long coastline and rich fishery resources, which provide sufficient raw materials for the production of frozen shrimp products. According to CRI analysis, Vietnam's frozen shrimp product industry has formed a complete industrial chain, covering fishing, processing, packaging and export. Vietnam's frozen shrimp production areas are mainly concentrated in coastal areas such as Binh Dinh, Phu Yen and Khanh Hoa. The export volume of Vietnam's frozen shrimp has increased year by year and has become one of Vietnam's important export aquatic products.
According to CRI data, Vietnam's total frozen shrimp exports reached US$1.876 billion in 2023. In 2024, Vietnam's frozen shrimp exports exceeded US$1.9 billion, and it is expected that Vietnam's frozen shrimp exports will continue to grow in the next few years.
According to CRI analysis, Vietnam's frozen shrimp export markets are spread across North America, Europe and the Asia-Pacific region. The United States is the largest export destination for Vietnamese frozen shrimp products. Vietnam's frozen shrimp exports to major markets such as the United States, the European Union, Japan and China account for 90% of the total export value. From 2021 to 2024, the main export destinations for Vietnamese frozen shrimp products are the United States, Japan, China, Hong Kong, South Korea and Australia.
According to CRI analysis, the main companies importing frozen shrimp to Vietnam include MSEAFOOD CORPORATION, KYOKUYO CO LTD, MARUHA NICHIRO CORPORATION and other companies. Most of Vietnam's frozen shrimp exporters are local Vietnamese frozen shrimp producers, and a small number are subsidiaries of international frozen shrimp producers and distributors in Vietnam. The main exporters of Vietnamese frozen shrimp include MINH PHU SEAFOOD CORP, STAPIMEX, CASES and other companies.
The production and export of Vietnamese frozen shrimp products have made significant progress in recent years and have become an important part of Vietnam's aquatic product exports. With the increasing demand for healthy food among global consumers and the rich marine resources and perfect production capacity, CRI expects that Vietnam's frozen shrimp exports will continue to grow.
CRI recommends that global aquatic product trading companies should conduct research on the Vietnamese market as soon as possible and prepare for early layout of the Vietnamese market.
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