Shrimp is Vietnam’s most valuable seafood export, and the industry continues to grow. In 2024, Vietnam’s total shrimp exports reached $3.88 billion, a 14.4% increase compared to the previous year. In this article, we’ll take a closer look at the top 5 shrimp processing companies in Vietnam, explore what makes them successful, and see how they are shaping the future of the industry.
I. Shrimp Market Overview
Here’s a breakdown of Vietnam’s key shrimp export markets in 2024:
- CPTPP (Canada, Japan, Australia, etc.) – 25.2% market share
- USA – 19.5% market share
- China & Hong Kong – 21.7% market share
- EU – 12.5% market share
Table detail for Vietnam Shrimp Export market:
Source: Customs data
Despite challenges such as price competition from Ecuador and India, Vietnam remains a top global shrimp supplier, thanks to its focus on high-quality, value-added shrimp products.
While Vietnam’s shrimp industry is growing, companies also face some big challenges:
- Sustainability Demands – More buyers, especially in the EU and USA, require shrimp to be ASC, BAP, or GlobalGAP certified.
- Price Competition – Ecuador and India produce shrimp at lower costs, making it tough for Vietnamese exporters to stay competitive.
- Climate Change – Rising temperatures, disease outbreaks, and unpredictable weather impact shrimp farming.
- Trade Barriers – Stricter food safety regulations in major markets mean companies must meet higher standards.
Despite these challenges, the top shrimp companies in Vietnam are leading the way by adopting new technologies, expanding their farms, and improving sustainability.
II. Top 5 Shrimp Processing Companies in Vietnam
Each of these companies has played a major role in boosting Vietnam’s shrimp industry. Let’s dive into what makes them successful!
1. STAPIMEX– Leading shrimp processing companies in Vietnam
🔹 Why they stand out: STAPIMEX is Vietnam’s largest shrimp exporter by revenue in 2024. They specialize in frozen vannemei (whiteleg shrimp), value-added shrimp products like breaded and marinated shrimp.
🔹 Key markets: USA, Japan, EU
🔹 Strengths:
- Strong reputation for high-quality processing
- Investment in automation and modern facilities
- Focus on sustainability and traceability
🔹 Future Strategy: Expanding into new premium markets and increasing automation to improve efficiency.
2. Minh Phu Seafood Corporation – The giant of shrimp processing companies in Vietnam
🔹 Why they stand out: Minh Phu is one of the most well-known shrimp companies in Vietnam, with strong brand recognition in the USA and EU.
🔹 Key markets: USA, EU, Japan
🔹 Strengths:
- Large-scale shrimp farming operations
- Heavy investment in smart aquaculture technology
- Strong supply chain control, from farming to processing
🔹 Challenges: Minh Phu has faced anti-dumping duties in the USA, but they continue to innovate and explore new markets.
3. Minh Phu Seafood – Hau Giang – Top Vietnamese shrimp exporters
🔹 Why they stand out: A subsidiary of Minh Phu, this company focuses on high-quality frozen shrimp and organic shrimp farming.
🔹 Key markets: EU, Japan
🔹 Strengths:
- Advanced processing facilities in Hau Giang
- Strong sustainability initiatives, including organic shrimp production
- Investments in shrimp feed innovation to improve efficiency
🔹 Future Strategy: Expanding into the Middle East and South America to diversify its customer base.
4. FIMEX VN (Sao Ta Foods JSC) – A trusted frozen shrimp supplier in Vietnam
🔹 Why they stand out: FIMEX VN is a technology-driven shrimp processor known for its cutting-edge production lines and strict quality control.
🔹 Key markets: Japan, EU, South Korea
🔹 Strengths:
- Strong reputation for food safety and premium quality
- Investing in sustainable shrimp farming
- Focus on black tiger and whiteleg shrimp
🔹 Challenges: Rising raw material costs and labor shortages.
5. CASES (Ca Mau Seafood Processing and Service JSC) – A reliable shrimp suppliers in Vietnam
🔹 Why they stand out: Specializing in black tiger shrimp, CASES has built a strong global reputation.
🔹 Key markets: China & HK, USA, EU
🔹 Strengths:
- Integrated shrimp farming and processing
- Strong export growth in China and Hong Kong
- Well-known for traditional and high-value shrimp products
🔹 Future Strategy: Increasing investments in sustainable aquaculture to meet growing international demand
See another post: Vietnam Seafood Export full overview of 2024 (update) – Market Insights & Key Trends 2025 at here.
III. Key Factors Behind The Success of Leading shrimp processing companies in Vietnam
Vietnam’s top shrimp processing companies have built their success on four key pillars: technology, supply chain control, global expansion, and sustainability.
1. Advanced Processing & Automation
These top shrimp processing companies in Vietnam have heavily invested in modern processing facilities with automated peeling, freezing, and packaging to boost efficiency and ensure consistency. AI-powered quality control helps detect defects, while IQF freezing technology preserves shrimp freshness. With better cold storage and logistics, they can maintain top quality, even for distant markets.
2. Vertical Integration: Controlling the Supply Chain
Owning shrimp farms gives companies better control over raw materials, ensuring stable supply and quality. Many have hatcheries, feed production, and processing plants under one system, reducing reliance on external suppliers. This integration also helps meet sustainability standards like ASC and BAP certifications, which are essential for major buyers.
3. Expanding into New Markets
Vietnamese shrimp is reaching more global markets thanks to free trade agreements like CPTPP and EVFTA, which lower tariffs in Japan, Canada, and the EU. While the USA and China remain key buyers, companies are also targeting the Middle East, South America, and Halal markets. Branding efforts are underway to position Vietnamese shrimp as high-quality and premium, rather than just affordable.
4. Sustainability and Climate Adaptation
To meet international standards, these leading shrimp processing companies in Vietnam are adopting eco-friendly farming with recirculating aquaculture systems (RAS) to reduce water usage. Some are promoting mangrove-friendly shrimp farms, which support biodiversity. Climate change remains a challenge, so research is ongoing for disease-resistant shrimp breeds and better farm management techniques.
See another post: Top 20 biggest seafood companies in vietnam
IV. Future Outlook for Vietnam’s Shrimp Processing Industry
Despite strong growth, the shrimp industry faces both opportunities and challenges.
1. Opportunities for Growth
Demand for ready-to-eat shrimp is rising, especially in the USA, Japan, and Europe, where consumers prefer pre-cooked and value-added products. Black tiger shrimp is gaining popularity due to its richer taste, offering a niche market for high-end buyers. New markets like the Middle East and South America present fresh opportunities, while innovations in smart shrimp farming can help improve efficiency.
2. Challenges & Risks
Environmental risks like rising temperatures and disease outbreaks continue to threaten shrimp farming. Ecuador and India remain strong competitors, offering shrimp at lower prices, particularly in China and the USA. Stricter import regulations, especially in Europe and the USA, require companies to invest in better traceability and quality control.
3. Strategies for Future Success
To stay competitive, companies need to invest in R&D for disease-resistant shrimp, adopt blockchain-based traceability, and strengthen the branding of Vietnamese shrimp as a premium product. Expanding e-commerce and direct-to-consumer sales can reduce reliance on wholesalers, while automation and alternative shrimp feed can help cut production costs.
IV. Conclusion
Vietnam’s shrimp industry is at a turning point. The top shrimp processing companies in Vietnam are leading the way by embracing technology, sustainability, and market expansion. However, global competition, trade barriers, and climate risks require constant adaptation. Companies that invest in innovation and branding will thrive, ensuring Vietnam remains a top shrimp exporter in the years to come.
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