The United States shrimp market is a highly competitive arena, with India and Ecuador vying for the top spot in terms of exports. In 2021, Ecuador overtook Indonesia to become the second largest supplier of shrimp to the US and now Thailand and Vietnam are slowly gaining ground. Breaded shrimp is a valuable product, with China, Indonesia, Vietnam, and Thailand all play important roles in its supply. This article will take a closer look at the US shrimp market and explore which countries are currently winning.
India is the clear leader in the US shrimp market, exporting over 705,000 metric tons (MT) of shrimp to the US in 2021. India’s competitive advantage lies in its ability to produce large quantities of shell-on shrimp, particularly smaller mid-sizes, and small sizes. India also has a strong presence in the value-added shrimp market, as it produces a wide range of ready-to-eat products such as breaded shrimp, shrimp burgers, and shrimp skewers.
In 2021, Ecuador exported over 337,265 MT of shrimp to the US, a growth rate of 16% compared to 2020. This makes Ecuador the second-largest supplier of shrimp to the US, overtaking Indonesia in the process. Ecuador has a competitive edge in the production of shell-on shrimp, particularly smaller mid-sizes, and small sizes. It is also making impressive gains in the production of peeled and other value-added shrimp products.
Thailand and Vietnam have both seen a slight increase in their exports of shrimp to the US in 2021, with each country exporting around 94,000 MT. Although these countries are not as dominant as India and Ecuador, they still play an important role in the US shrimp market. Thailand is known for its larger-sized shrimp, while Vietnam is known for its high-quality value-added products.
Breaded shrimp is a high-value product compared to other shrimp products, accounting for 7% of the total shrimp import volume. Of course, China had to deal with tariff obstacles, and as a result, it is no longer able to export significant quantities of breaded shrimp to the US. However, in 2021, it was still the US’s fourth-largest breaded shrimp provider. Indonesia, which was the US’s fourth-largest breaded shrimp supplier in 2019, overtook it as the top provider in 2021 with 22,510 MT. As the US’s second and third major suppliers of breaded shrimp in 2021, Vietnam and Thailand, which together produce over 13,000 MT, have only modestly boosted their shipments of breaded shrimp to the US.
India is the clear leader in the US shrimp market, but Ecuador has been making impressive gains in recent years. Thailand and Vietnam have both seen a slight increase in their exports of shrimp to the US in 2021, while China, Indonesia, Vietnam, and Thailand are all playing important roles in the supply of breaded shrimp. To grasp what the future might hold for particular providers, a thorough study of the US market is necessary.