Global surimi market 2025: Expansion opportunities for Vietnamese exporters

News 08:36 30/10/2025
(seafood.vasep.com.vn) The year 2025 marks a clear recovery for the global surimi industry, with strong growth momentum driven by major consuming markets in the Asia–Pacific region. In this context, Vietnam has emerged as a bright spot, as exports of fish paste and surimi reached over USD 257 million in the first nine months, up 26% compared to the same period in 2024.

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.

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