Vietnam has long held a significant position as one of the top suppliers to various markets, including Japan. However, recent data from the Japanese Customs Agency reveals a notable shift in the dynamics of seafood imports, particularly concerning shrimp, a staple in Japanese cuisine.

Overview of Seafood Imports in Japan

In 2023, Japan’s seafood imports amounted to 1.86 million tons, valued at JPY 1,869 billion (USD 12.5 billion). Despite the substantial figures, there’s a noticeable decline of 4.8% in volume and 5.2% in value compared to the previous year.

Among the various seafood products, shrimp experienced the most significant decrease in import volume, plummeting by 9.4% to reach 212.4 thousand tons in 2023. The average import price for shrimp also dipped by 1.4% compared to 2022, settling at 9.6 USD/kg.

Vietnam’s Market Share Contraction

Vietnam, historically a key player in supplying seafood to Japan, witnessed a decline in its market share. Despite maintaining its position as the third-largest seafood supplier to Japan, Vietnam’s market share dropped from 7.8% in 2022 to 7.1% in 2023. The decrease in volume amounted to 13.2%, reaching 132 thousand tons.

The Import-Export Department reports that Vietnam’s shrimp exports to Japan faced challenges in 2023 due to declining consumer demand. Exports amounted to 56.96 thousand tons, valued at USD 513.2 million, indicating a significant decrease of 16,000 tons in volume and a staggering 22.7% decline in value compared to 2022. However, there are promising signs of recovery, particularly evidenced by a slight uptick in exports in December 2023.