The global shellfish market is experiencing steady growth despite economic uncertainties. According to Market Growth Reports, the market was valued at USD 68.39 billion in 2025 and is projected to reach USD 70.37 billion in 2026, growing at a CAGR of 2.9% to reach USD 91.24 billion by 2035 [1]. This represents a significant opportunity for Southeast Asian exporters who can meet quality and certification standards.
For Southeast Asian suppliers specifically, the numbers are encouraging. Vietnam's seafood exports reached an all-time high of USD 11.34 billion in 2025, representing a 13% increase from the previous year [2]. Shrimp exports alone accounted for USD 4.65 billion (up 20%), while lobster exports doubled to USD 817 million. This growth occurred despite uneven global demand, stricter import barriers, and ongoing trade risks—demonstrating the resilience of well-positioned exporters.
Shellfish Market Segmentation by Type (2026)
| Product Type | Market Share | Growth Characteristics |
|---|---|---|
| Prawns/Shrimp | 38.87% | Highest volume segment, strong demand from foodservice |
| Crabs | 30% | Premium pricing, seasonal supply fluctuations |
| Bivalve (Mussels, Oysters, Scallops) | 20% | Growing sustainability focus, aquaculture expansion |
| Other Shellfish | 11.13% | Niche markets, regional specialties |
The Asia-Pacific seafood market specifically is projected to grow from USD 384.63 billion in 2025 to USD 409.71 billion in 2026, reaching USD 561.93 billion by 2031 at a CAGR of 6.52% [4]. This faster growth rate compared to the global average reflects increasing protein consumption, urbanization, and expanding middle-class populations across the region.

