(seafood.vasep.com.vn) The year 2025 is witnessing a clear recovery in Vietnam’s squid and octopus industry after a prolonged period of fluctuation from 2022 to 2024. In the first five months of the year, export value of these products reached nearly USD 274 million, an increase of more than 14% compared to the same period last year. Notably, traditional markets continued to grow steadily, while emerging markets also showed positive signals, creating hope for a breakthrough year.
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Among export markets, South Korea remains the largest importer, with imports in the first five months of 2025 exceeding USD 100 million, accounting for 36% of Vietnam’s total exports and up 6% compared to the same period in 2024. Vietnam mainly exports frozen cuttlefish and boiled octopus to this market.
Japan follows with nearly USD 69 million, up 19% year-on-year. Exports of squid and octopus to Japan have been on the rise thanks to stable demand and the appeal of high-quality products such as sashimi and boiled octopus.
Exports to China are also rebounding strongly, with high growth over the past two months after a decline earlier this year. This rebound is attributed to the reopening of the Chinese market, which has recently increased imports of frozen and semi-processed squid to serve its food service sector. Export value to China in the first five months reached more than USD 26 million, a 2% increase year-on-year.
Exports to the EU have also accelerated in recent months. With a total value of nearly USD 15 million in the first five months (up 11% year-on-year), the EU ranks as Vietnam’s fifth-largest market for squid and octopus. Exports to the bloc’s top three markets—Italy, Spain, and Belgium—grew by 6%, 71%, and 24% respectively.
In addition, several emerging markets such as the Philippines, UAE, Cambodia, and Canada recorded growth of over 40% compared to the same period last year, showing great potential in the mid-range and convenience product segments.
Forecasts suggest that Vietnam’s squid and octopus exports in the first five months of 2025 have made a strong start, laying a solid foundation for reaching the target of over USD 700 million for the full year. As the global market shows signs of recovery, enterprises need to invest more in deep processing, traceability, and expanding access to emerging markets to enhance the sustainability of this strategic industry. However, to achieve this target, businesses also need government support in facilitating the domestic raw material supply, and in promptly resolving bottlenecks related to the certification and verification of harvested seafood.
