Divergence in export markets
Although Vietnam’s fish cake and surimi exports maintained strong overall growth through the first 11 months, November’s performance revealed a lack of uniformity across markets. Some destinations have begun to slow due to inventory cycles and softer demand, whereas emerging destinations - most notably the EU, China & Hong Kong - are expanding rapidly.
Exports to South Korea and Thailand remained higher year-on-year for the 11-month period, up 11% and 16%, respectively. However, November saw a year-on-year decline in both markets. This signals short-term order volatility that exporters need to closely monitor, requiring greater flexibility in delivery schedules, pricing and product variety, alongside closer engagement with retail chains.
In contrast, the EU emerged as a standout growth driver, reaching $32 million (a 10% market share) and surging 91% year-on-year in the first 11 months of 2025. Notably, Lithuania recorded $29 million, representing a 9% share and a remarkable 108% increase - the strongest growth among major markets.
Alongside the EU, exports to China & Hong Kong also posted robust growth of 46% year-on-year.
Japan followed suit with a significant 19% increase, exceeding $30 million. As a market known for its “high standards and stability”, Japan remains a strategic destination for enterprises with strong capabilities in quality control, production standards and the development of value-added product lines.
Competition intensifies beyond pricing
Competition in the global fish cake and surimi market is increasingly evolving along three main dimensions. First is convenience-oriented products - ready-to-eat and easy-to-use items tailored for retail and the horeca segment. Second is consistent quality and supply stability, enabling longer-term contracts and reducing risks amid market volatility. Third is the standardization of documentation, traceability and technical requirements, particularly for the EU and other high-standard markets.
Looking ahead, the EU, China & Hong Kong are expected to remain key growth engines, supported by strong momentum in 2025. However, requirements regarding standards and documentation (EU), as well as price competition and order pacing (China), will become more stringent. Meanwhile, South Korea and Thailand will maintain their roles as cornerstone markets, though short-term fluctuations may become more pronounced due to inventory levels and seasonality; consequently, enterprises should prepare flexible volume coordination strategies to adapt.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s pangasius exports to the EU reached approximately $148 million, up 12% compared to the same period in 2025. In September 2026 alone, export turnover to this market hit $18 million, a 27% year-on-year increase. Despite diverging demand across member states, the EU remains a market with growth potential for Vietnamese pangasius, particularly as supplies of several traditional whitefish species face mounting pressure.
(seafood.vasep.com.vn) Vietnam’s tuna exports to the US are showing a clear recovery after a difficult start to the year. However, the rebound is taking place against a backdrop of declining US tuna imports and a shifting supply structure, posing new challenges for Vietnamese businesses.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s shrimp exports to Japan reached US$440.9 million, up 6.4% year on year. This result is noteworthy as Japan’s total shrimp imports continued to decline slightly and competition among suppliers intensified. Demand for convenience foods and processed products continues to create opportunities for Vietnamese exporters, but capitalizing on these opportunities requires stronger competitiveness and the ability to meet increasingly specific market requirements.
(vasep.com.vn) After slowing in the first months of the year, Vietnam’s tuna exports have shown a clear improvement since June 2026. However, behind September’s double-digit growth lies a notable reality: export value is recovering, but pressures from markets, trade policies, and competition among suppliers remain.
(vasep.com.vn) Vietnam’s pangasius export value reached US$1.7 billion in the first nine months of 2026, up 11% year on year. In September alone, exports totaled US$210 million, an increase of 16%. China, the United States, and Brazil were the three largest markets, accounting for 49% of total export value. While China and Brazil maintained their growth momentum, exports to the US remained below the level recorded in the same period last year.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
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