Lobster on track to become a billion-dollar export

In the first half of 2026, Viet Nam's shrimp exports faced mounting challenges, including intensifying price competition from the world's leading shrimp-producing and exporting countries, rising production costs, and a sharp decline in shipments to the U.S. market. Against this backdrop, lobster exports have continued to stand out as a bright spot, particularly thanks to strong demand from China.

According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), Viet Nam's lobster exports to China reached more than USD 506 million during the first five months of 2026, up 44.3% year-on-year. Lobster accounted for more than 71% of Viet Nam's total shrimp export value to China during the period.

The strong performance of lobster exports to China in the first half of 2026 builds on the remarkable growth recorded in 2025.

Last year, Viet Nam's lobster exports to China surged by more than threefold, reaching a record USD 845 million. China accounted for virtually all of Viet Nam's lobster exports, which totaled USD 858 million across all markets.

This exceptional growth made lobster the primary driver of Viet Nam's shrimp exports to the China-Hong Kong market, which climbed to a record high of more than USD 1.2 billion in 2025, up 55% from 2024. As a result, China remained Viet Nam's largest shrimp export market for the second consecutive year, in both 2024 and 2025.

With double-digit growth in the first five months of 2026, China is expected to remain the leading destination for Vietnamese lobster this year. Seafood consumption in China continues to expand, particularly for live seafood and premium products such as lobster.

In China, lobster is widely served in restaurants and hotels, featured at banquets, and purchased as a premium gift.

Viet Nam currently competes with Canada, the United States, Australia, New Zealand, and Mexico as a major supplier of lobster to the Chinese market. However, Viet Nam enjoys a significant logistical advantage thanks to its shared border with China, enabling live lobsters to be transported more quickly and efficiently than shipments from more distant suppliers.

In particular, Viet Nam's green spiny lobster, typically available in small and medium sizes at competitive prices, is well suited to Chinese consumer preferences. When cooked, the lobster turns bright red, a color traditionally associated with prosperity and good fortune in Chinese culture, making it especially popular in the market. As a result, green spiny lobster has become Viet Nam's flagship lobster export to China.

The continued strong growth of lobster exports to China has become the main driver sustaining double-digit growth in Viet Nam's overall shrimp exports to the China-Hong Kong market. During the first five months of 2026, shrimp exports to China and Hong Kong exceeded USD 711 million, up 46% year-on-year and accounting for nearly 38% of the country's total shrimp export value.

Le Hang, VASEP Deputy Secretary General, said demand for live seafood in China remains exceptionally strong, particularly for lobster, carpet clams, and spotted babylon snails. As a result, Viet Nam's lobster exports to China could reach USD 1 billion in 2026.

Despite intense competition from other suppliers, Viet Nam's lobster exports to China are expected to maintain strong growth momentum in the coming years.

One key reason is the continued expansion of China's lobster imports. The country's lobster import value increased from USD 1.2 billion in 2017 to nearly USD 3.9 billion in 2025. China is now the world's largest lobster importer and plays a leading role in shaping the global lobster market.

Beyond rising demand, improvements in seed quality, disease control, and the development of standardized farming areas are also strengthening the competitiveness of Vietnamese lobster. Many localities have invested in farming infrastructure, enhanced environmental management, and improved product traceability to better meet the requirements of international markets. These efforts provide an important foundation for the sustainable development of Viet Nam's lobster industry, helping reduce supply chain risks and increase export value in the years ahead.

Another notable characteristic of the Chinese market is its strong preference for live lobster over frozen or processed products. This continues to give Viet Nam a significant competitive advantage, thanks to its short transportation time, flexible supply of live seafood, and products that closely match Chinese consumer preferences.