A systematic market access strategy needed to promote Vietnam shrimp exports to the EU

Published 2024년 6월 7일

Tridge summary

Vietnamese shrimp exports to the European Union (EU) saw a 28% increase in April, reaching 38 million USD compared to the same period last year. Despite a significant decrease in 2023 due to the Russia-Ukraine conflict and other factors, the first four months of 2023 achieved nearly the same export value as the previous year. The report highlights the growth in exports to key EU markets like Germany, the Netherlands, and Belgium, with Germany seeing a 29% increase. The Global Seafood Exhibition 2024 in Spain provided Vietnamese shrimp exporters with an opportunity to promote their products to European consumers and importers. However, the EU market presents challenges due to safety standards, environmental requirements, and traceability, with competition being strong, especially from Ecuador. The market in Northwest Europe is leaning towards convenient and value-added shrimp products, while Southern Europe prefers affordable shrimp. Despite these challenges, the EU market expects a 7% CAGR in shrimp consumption, offering opportunities for competitive and innovative shrimp products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Shrimp exports to the EU reached 38 million USD in April this year, up 28% over the same period. Cumulatively, in the first 4 months of this year, export value to the market reached 119 million USD, almost equivalent to the same period last year. In April of this year, shrimp exports to the EU were quite exciting. Export value to the main single markets in the bloc all grew by double digits. Exports to Germany, the Netherlands,and Belgium increased by 29%, 37%, and 39%, respectively; exports to Denmark increased sharply by 88%. The Global Seafood Exhibition 2024 takes place in Spain in April with the participation of many Vietnamese shrimp exporters. Here, fresh value-added shrimp products from Vietnam were promoted to European consumers and importers. Instant shrimp products are processed by businesses into many diverse dishes and attracted visitors to enjoy right at the booths. In 2023, Vietnamese shrimp exports to the EU decreased significantly compared to 2022. The ...

Source: Vasep