In early 2025, shrimp imports in major consumer markets in the world, the US, China and the EU, have seen notable fluctuations.

US shrimp imports start the year impressively

US shrimp imports started 2025 with positive growth compared to the same period last year. In January 2025, the US imported 71,301 tons of shrimp (equivalent to 157.026 million pounds), worth $631.2 million, up 20% in volume and 32% in value compared to 59,460 tons (equivalent to 131.398 million pounds) worth $476.5 million in January 2024. The average price reached $4.02/pound, up 11% compared to $3.62/pound in January 2024. This is a positive signal after a volatile year in 2024 for the US shrimp market. Total imports for the whole year of 2024 will reach 762,804 tons, worth nearly US$6.1 billion, down 3% in volume and 6% in value compared to 788,209 tons, worth more than US$6.4 billion in 2023.

This change in trend comes from the fact that markets have become clearer after the US announced the results of anti-dumping (AD) and countervailing duty (CVD) investigations targeting Ecuador, India, Indonesia and Vietnam.

According to US shrimp import data in January this year, imports from India grew strongly, Ecuador stagnated, Indonesia increased slightly, and Vietnam continued to grow well.

Demand for shrimp in the US remains high, especially among young people under 35 years old, and shrimp is attracting flexible vegetarians (those who want to reduce red meat consumption).

However, consumption demand is somewhat limited by concerns about price and processing methods. Many people think that shrimp is more expensive than chicken, although in reality the difference is not that big. Familiarity in processing is also an issue, many people like to eat shrimp but are afraid to cook it themselves because they worry about peeling, removing the vein, and cooking it properly.

People under 35 eat more shrimp than older people, but mainly through take-out and eating out. Therefore, to increase shrimp consumption at home, businesses need to position shrimp as a daily protein, provide smaller packaging to reduce costs, and develop value-added products such as processed shrimp for more convenience for consumers.

China: Warm water shrimp imports down, lobster imports up

Lobster imports into China continued to increase in the early part of 2025, while whiteleg shrimp and tiger shrimp imports have yet to recover strongly. This trend continues the trend of late 2024.

In 2024, China imported 916,000 tons of frozen warmwater shrimp, down 7% year-on-year. Import value also decreased by 15% to USD 4.55 billion, with average prices down 8% to USD 4.97/kg.

The reason may be that the strong increase in domestic farmed shrimp production has led to lower domestic shrimp prices and direct competition with imported shrimp.

Despite the decrease in imports, shrimp still accounts for 24% of China's total seafood import volume and 41% of the value. Shrimp is the most popular seafood item on online shopping platforms in China.

People in wealthy cities like Beijing and Shanghai tend to consume more shrimp than other regions.

Regarding the shrimp farming situation in China in the first months of this year, shrimp prices in China fluctuated strongly: After falling to the lowest level in nearly 2 years in January 2025, shrimp prices skyrocketed to the highest level in nearly 1 year in March.

In Guangdong, the price of 60-count shrimp/kg increased from 31 yuan/kg to 40 yuan/kg in the first 10 weeks of the year. In Jiangsu, shrimp prices doubled from 27 yuan/kg to 56 yuan/kg due to scarce supply.

The reason for the increase in raw shrimp prices in China is due to limited domestic shrimp supply after the early harvest, reduced shrimp imports, and no major holidays but increased demand.

Despite the increase in prices, farmers are still cautious and have not shown signs of large-scale stocking due to market concerns. Input costs (feed, seed) increased due to China’s retaliatory tariffs on the US (shrimp feed prices increased by 200–300 yuan/ton).

More and more farmers are shifting to large-sized shrimp to maximize profits. The price gap between large and small shrimp is narrowing.

European shrimp market slows down

In February 2025, the European shrimp market moved slowly with stable prices. Since winter is not the peak consumption season, demand did not increase significantly. This makes the market expected to have few fluctuations in March.

In 2024, the European shrimp market will continue to maintain its growth momentum, especially in countries such as Germany, France and the Netherlands, where seafood is a popular choice in daily meals.

European consumers increasingly prefer clean shrimp products, organic shrimp and processed shrimp. Processed shrimp products such as steamed shrimp, peeled shrimp or convenient packaged dishes also recorded strong growth in consumption, suitable for modern lifestyles.

Shrimp consumption habits in Europe have clear differences between regions. In Western Europe (Germany, France), consumers prioritize high-quality clean shrimp, focusing on origin and quality standards. In contrast, in Southern Europe (Spain, Italy), fresh shrimp is preferred for traditional dishes such as paella or grilled seafood. Meanwhile, Eastern Europe, with its growing middle class, tends to favor mid-priced, affordable shrimp products.

Source: VASEP