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) On June 16, the Department of Agriculture and Environment of Ca Mau Province announced that the locality has established a farming area code for nearly 30,400 hectares of mud crab aquaculture and granted export facility codes to five enterprises eligible to export mud crab officially to markets such as China, Cambodia, Singapore, and the United Arab Emirates (UAE).
(seafood.vasep.com.vn) The United States remains one of the largest export markets for Vietnamese pangasius. In the first four months of 2026, pangasius exports to the US reached USD 106 million, up 4% compared to the same period in 2025. In April 2026 alone, export value totaled USD 38 million, marking a 20% year-on-year increase and the first positive growth recorded after an extended period of decline.
(seafood.vasep.com.vn) While Vietnam’s shrimp exports to many major markets continued to post positive growth in the first months of 2026, exports to the United States declined, highlighting growing competitive pressures and trade barriers facing the Vietnamese shrimp industry.
(seafood.vasep.com.vn) Egypt is emerging as one of the most promising destinations for Vietnamese tuna exports in 2026. During the first four months of the year, export turnover to this market exceeded USD 7.3 million, marking a sharp increase compared to the same period over the previous two years. As Egypt’s tuna imports continue to recover and demand for canned tuna remains strong, the market is becoming increasingly attractive for Vietnamese tuna processors and exporters.
(seafood.vasep.com.vn) During the first four months of 2026, Vietnam’s pangasius exports to CPTPP member countries reached nearly USD 128 million, accounting for 18% of the country’s total pangasius export value and increasing by 21% compared to the same period in 2025. Demand patterns varied significantly across the bloc: Mexico primarily imported fresh and frozen pangasius products, while Japan and Canada recorded substantial shares of processed products. Australia remained focused on frozen fillets but continued to maintain a portion of processed imports.
(seafood.vasep.com.vn) Despite the slow recovery of the U.S. market and continued trade-related challenges facing Vietnam’s shrimp industry, Minh Phu Seafood Corporation (MPC) has set ambitious targets for 2026. The company aims to produce 68,800 metric tons of finished shrimp products, generate consolidated revenue of VND 19.9 trillion, and achieve VND 1.059 trillion in pre-tax profit. If achieved, these figures would represent the highest revenue and profit levels in the company’s history.
(seafood.vasep.com.vn) HungHau Foods Joint Stock Company (HungHau Foods) has been honored at the 33rd Asia-Pacific Economic Forum, receiving two prestigious awards: “Top 10 Outstanding Asia-Pacific Enterprises 2026” and “Top 10 Outstanding Entrepreneurs” awarded to HungHau Foods CEO, Ms. Nguyen Yen.
(seafood.vasep.com.vn) After a period of sluggish imports in 2025, the Chinese market has returned with strong shrimp purchasing momentum in the first months of 2026. However, alongside rising demand comes an increasingly stringent import control system, covering quarantine requirements, food safety standards, registration procedures, and traceability. This makes China a market that offers both significant opportunities and growing risks for Vietnamese shrimp exporters.
(seafood.vasep.com.vn) Recently, in Long Xuyen City, An Giang Province, the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) and the University of Economics Ho Chi Minh City (UEH) organized a workshop to announce the results of the project “Food Loss Assessment in the Pangasius Value Chain in the Mekong River Region.” The project aims to provide scientific evidence to support the sustainable development of Vietnam’s pangasius industry.
(seafood.vasep.com.vn) Shrimp prices in Vietnam’s Mekong Delta have recovered since early May, helping to improve farmers’ confidence and accelerate stocking activities for the 2026 farming season. However, farmers remain cautious due to rising input costs, unfavorable weather conditions, and disease risks.
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