China has dramatically increased its spending on Vietnamese lobster over the past year, surpassing the United States to become the largest buyer of the country's $3.9 billion shrimp export sector.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports in 2024 generated $3.9 billion, a 14% increase from the previous year.

Notably, China (including Hong Kong) imported $843 million worth of shrimp from Vietnam, a 39% year-on-year increase, surpassing the United States, which purchased $756 million.

VASEP attributed this surge to several factors, including a decline in China’s domestic shrimp supply due to unfavorable weather conditions and a decrease in Ecuador’s shrimp exports to China in 2024. Additionally, China has implemented measures to boost domestic consumption, further benefiting Vietnam’s shrimp exports.

In terms of product structure, "other shrimp" (which includes lobster) accounted for the largest share at 51.7%, as Chinese consumers aggressively purchased Vietnamese lobster in 2024. Whiteleg shrimp followed with a 36.1% share, while black tiger shrimp comprised 12.2% of the total export value.

However, black tiger shrimp exports to China declined more sharply than those of whiteleg shrimp. Processed black tiger and whiteleg shrimp products also saw significant drops compared to fresh, live, or frozen varieties. Notably, processed black tiger shrimp exports plunged by 44%.

Conversely, exports of "other shrimp" experienced a remarkable 174% surge. Processed shrimp in this category saw a 199% rise, while live, fresh, and frozen shrimp exports grew by 185%.

VASEP noted that the "other shrimp" category is primarily composed of lobster, which saw a significant increase in exports to China in 2024. China now accounts for 98–99% of Vietnam’s lobster exports, making it the dominant market for this high-end seafood.

In China, in 2024, rock lobsters and other marine shrimp ranked as the second most imported seafood category, with a 39% increase from 2023. Meanwhile, imports of warm-water shrimp decreased.

Throughout the year, China reduced purchases from other suppliers while increasing imports exclusively from Vietnam.

In the first half of January 2025, Vietnam’s shrimp exports to China continued their strong growth, surging 191% year-on-year to over $51 million.

VASEP assessed that the decline in China's whiteleg shrimp imports was not due to oversupply but rather to a significant reduction in middle-class purchasing power.

As economic growth slows, wages decline, and living costs rise, Chinese consumers are becoming more cost-conscious. Consequently, seafood proteins have shifted from a "preferred choice" to an "optional purchase." Whiteleg shrimp, a price-sensitive product, has been particularly affected by this demand drop.

Notably, in the mid-range and budget segments, whiteleg shrimp sales have struggled, contrasting sharply with the premium seafood market, where products such as lobster, salmon, and king crab continue to perform well.

Meanwhile, wealthy consumers' purchasing habits have remained relatively stable. Given this trend, VASEP recommends that Vietnamese exporters focus on increasing lobster shipments while simultaneously promoting and implementing strategies to stimulate demand for traditional shrimp varieties like whiteleg and black tiger shrimp in the Chinese market.

Tam An