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) Vietnam’s seafood exports are heading towards $12 billion this year, potentially the highest level on record. Yet one of the country’s export strengths is facing a growing list of challenges.
(seafood.vasep.com.vn) The first six months of 2026 indicate that Vietnam’s tilapia industry is entering a new phase of development, with strong export growth but also greater demands for production scale, quality and international competitiveness.
(seafood.vasep.com.vn) Vietfish 2026, the Vietnam International Seafood Exhibition, will officially take place from 19–21 August 2026 in Ho Chi Minh City. As Vietnam’s largest annual seafood trade event, organized by the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietfish 2026 will once again bring together leading seafood companies, industry experts, and international partners from across the global seafood value chain.
(seafood.vasep.com.vn) Vietnam’s seafood exports reached USD 1.1 billion in July 2026, up 4.8% compared to the same period in 2025. Cumulative exports in the first seven months of the year totaled nearly USD 6.86 billion, an increase of 11.5% year-on-year. Exceeding the USD 1 billion mark in July further reinforces the prospect that Vietnam’s seafood exports could surpass USD 12 billion in 2026. However, the July figures also send a clear signal that the most favorable growth period may have passed: overall export growth slowed to just 4.8%, pangasius exports fell 6.1%, tuna exports were virtually flat, while exports to the EU, South Korea, and the Middle East all recorded double-digit declines.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the seminar "Global Seafood Market and the Future Workforce: Trends, Opportunities, and Sustainable Development Pathways for Vietnam's Seafood Industry" will take place from 2:00 p.m. to 4:15 p.m. on August 19, 2026, at Convention Room B, Level 2, SECC, Ho Chi Minh City. This is the first of five specialized seminars at Vietfish 2026, focusing on key issues that are shaping the long-term development of Vietnam's seafood industry.
(seafood.vasep.com.vn) Vietnamese seafood exports recorded impressive growth, generating nearly 6 billion USD in revenue during the first six months of the year, up 13% compared with the same period last year.
(seafood.vasep.com.vn) Fishermen in Ha Tinh are gradually overcoming difficulties to maintain the efficiency of seafood exploitation. In the first six months of 2026, the entire province achieved a production of more than 23,000 tons of seafood, worth more than 1,200 billion VND.
(seafood.vasep.com.vn) June 2026 brought encouraging signs for Vietnam's tuna exports, with export value rising 20% year-on-year to nearly USD 72 million. However, this increase has yet to offset the prolonged slowdown seen in key markets such as the European Union (EU), where import demand remains weak. The outlook for the second half of the year is expected to become more challenging as freight rates continue to climb.
(vasep.com.vn) As part of the Vietnam Fisheries International Exhibition (Vietfish 2026), the Vietnam Association of Seafood Exporters and Producers (VASEP), in collaboration with the Agency for Domestic Market Management and Development under the Ministry of Industry and Trade, will organize the Domestic Seafood Supply–Demand Matching Program on the morning of August 20, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City. The program aims to foster direct business connections between Vietnamese seafood producers and processors and domestic distributors, retailers, and foodservice channels.
(seafood.vasep.com.vn) The Cooking Show will be one of the most engaging experiential highlights of Vietfish 2026. Taking place over three days, from August 19–21, 2026, at Hall B1, SECC, Ho Chi Minh City, the event will offer visitors a vibrant culinary space where Vietnamese seafood is showcased through its flavors, stories, and real-life culinary applications.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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