Strong export growth with several breakthrough markets
Asian markets continue to serve as the backbone of the industry, with South Korea and Thailand leading the way, accounting for 25% and 23% of Vietnam’s total export value, respectively. Both markets recorded double-digit growth – 17% in South Korea and 24% in Thailand. Exports to countries under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also showed positive signals, with double-digit growth rates. The China & Hong Kong market continued to expand, rising 45% to nearly USD 36 million. Notably, the European Union (EU) recorded a remarkable surge of 79%, thanks to the recovery of demand in Lithuania and Spain. Another striking highlight was the sharp increase in Malaysia, where export value in the first nine months jumped 44%, indicating that Southeast Asia is becoming a promising consumption hub for Vietnam’s surimi products.
Global surimi industry recovers and shifts toward value-added products
In 2025, global surimi prices have shown a stable recovery after hitting bottom at the end of 2023. The main driver is the rebound in demand, particularly for ready-to-eat and convenience products such as crab sticks, fish cakes, and seafood patties. Major producers in Thailand, China, and Vietnam are investing heavily in deep-processing lines to enhance product value and meet increasingly stringent standards from import markets. At the same time, traceability, sustainability certification, and food safety compliance have become mandatory requirements to maintain export competitiveness.
Outlook for late 2025–2026: Stable growth amid fierce competition
Analysts forecast that global surimi prices will remain stable or increase slightly by the end of 2025, supported by well-managed raw material sources and recovering consumption demand. Entering 2026, the market is expected to grow sustainably at a rate of 5–7% per year, with Asia remaining the center of demand, while Europe and the U.S. expand their high-value product segments. However, Vietnamese exporters will also face growing competition from regional suppliers, along with rising logistics costs and technical barriers.
Opportunities for Vietnamese exporters
In this context, Vietnamese exporters need to proactively develop raw material strategies, invest in value-added products, and diversify markets and distribution channels. Expanding to fast-growing markets such as Malaysia and the EU, as well as leveraging tariff advantages from CPTPP members, will be viable directions. The year 2025 opens a favorable period for Vietnam to assert its position in the global surimi supply chain—not only as a raw material supplier, but as a competitive and sustainable processing and exporting partner.
(seafood.vasep.com.vn) With continued policy support, technological innovation and close coordination among authorities, businesses and farmers, Vietnam’s pangasius industry is expected to make a strong and sustainable breakthrough during the 2026–2030 period, reinforcing its position as the world’s leading exporter of the fish.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s tilapia exports to Asian markets showed varying trends across regions and countries. The Middle East recorded strong growth, with Saudi Arabia emerging as the largest Asian market for Vietnamese tilapia. ASEAN markets also expanded significantly, driven primarily by Malaysia. Meanwhile, Japan maintained solid growth, while exports to South Korea declined compared to the same period in 2025.
(seafood.vasep.com.vn) Shrimp and pangasius continued to lead growth, helping seafood exports reach $4.67 billion in the first five months of the year; however, differentiation among product groups and increasingly stringent requirements from importing markets are posing many challenges for the industry.
(seafood.vasep.com.vn) Every day, the seafood processing industry in Ca Mau generates large quantities of shrimp heads and shells during processing operations. In the past, these by-products were largely treated as waste, increasing production costs and posing potential environmental risks. However, thanks to advanced processing technologies, materials once considered waste are now being transformed into high-value products, creating a circular economy model within the seafood industry.
(seafood.vasep.com.vn) Vietnam Clean Seafood Corporation has invested in a 280-hectare super-intensive shrimp farming zone in Tran De Commune, Can Tho City, generating export value of approximately VND 3 billion per hectare per year—around 50 times higher than traditional agricultural production.
(vasep.com.vn) Vietnam’s seafood exports reached USD 1.02 billion in May 2026, up 0.6% year-on-year. Cumulative exports in the first five months of 2026 totaled USD 4.67 billion, an increase of 11% compared to the same period in 2025.
(seafood.vasep.com.vn) In a rapidly changing global seafood market, timely insights and reliable data are more critical than ever. The Report on Vietnam Seafood Exports in Q1/2026 provides a comprehensive overview of the latest developments in Vietnam’s seafood production, trade performance, and export trends, helping businesses navigate uncertainty and identify new growth opportunities.
(seafood.vasep.com.vn) While many major markets continue to experience slow growth, Russia has emerged as a brighter destination for Vietnamese tuna exports in early 2026. Export turnover to this market increased by nearly 55% in the first four months of the year, indicating a clear improvement in demand. Nevertheless, Russia remains a market that should be viewed with both optimism and caution.
(seafood.vasep.com.vn) Vietnam’s pangasius exports have shown encouraging signs of recovery in 2026. In the first four months of the year, total export turnover reached USD 720 million, up 17% compared to the same period last year. This result reflects improving demand across many markets, as well as the efforts of Vietnamese pangasius enterprises to maintain production, secure orders, and adapt to changing market conditions.
(seafood.vasep.com.vn) In the first four months of 2026, Vietnam’s tilapia exports reached USD 49 million, up 151% compared to the same period in 2025. This impressive growth reflects positive momentum in the tilapia sector, with Brazil emerging as a key driver of growth, while frozen tilapia fillets continued to be the industry's leading export product.
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