Amid competitive pressure, fish cake and surimi exports still have growth opportunities

Surimi 09:08 09/05/2026 Phuong Linh
(seafood.vasep.com.vn) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.

 

Exports to South Korea, Thailand, and Japan decline, while China surges

According to Vietnam Customs, South Korea remained the largest importer of Vietnamese fish cake and surimi in Q1/2026, but export value to this market fell by 21% year-on-year. Exports to Thailand and Japan also declined by 8% and 6%, respectively. These are traditional markets with stable demand, but are currently affected by more cautious consumer spending, intensifying price competition, and tighter import cost controls.

On the other hand, China has emerged as the brightest spot in the first quarter. Exports to this market increased by 17% compared to the same period last year. Several other markets also recorded notable growth, including Taiwan (+92%), the United States (+62%), Lithuania (+28%), Malaysia (+27%), and France (+183%), although their overall volumes remain relatively modest.

Convenience food trends continue to support demand

By market group, ASEAN remained the largest importing region, reaching nearly USD 21 million in Q1, though down 7%. Meanwhile, exports to China & Hong Kong and the EU both increased. This indicates that Vietnam’s fish cake and surimi exports are becoming more diversified, reducing reliance on a few traditional markets.

This trend reflects broader global consumption patterns. As consumers in many countries continue to tighten spending, processed seafood products that are convenient, affordable, and easy to store are gaining an advantage. Fish cake and surimi fit well with this trend, particularly in Asian markets, where demand for processed frozen foods remains relatively strong.

Cautious recovery expected

However, the outlook for this sector in 2026 is not entirely favorable. Price competition remains intense, especially in Northeast Asian markets. In addition, fluctuations in raw material costs, logistics, exchange rates, and rising protectionism in some importing markets are likely to affect the pace of order recovery.

In the short term, Vietnam’s fish cake and surimi exports are expected to continue recovering, albeit gradually. Markets such as China, the EU, Taiwan, and several niche destinations are projected to offer growth potential. Meanwhile, South Korea, Thailand, and Japan will remain important markets, but are unlikely to see strong growth unless consumer demand shows clearer signs of recovery.

surimi fish cake vietnam’s exports of fish cake and surimi

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