North American Seafood Exhibition 2024: Vietnam - A Sustainable Destination for Seafood

This is the 42nd Exhibition in Boston, attracting more than 22,000 seafood experts from around the world to attend, with 1,300 exhibitors from 50 countries around the world.

Exhibitions at the beginning of the year not only open the door for new-year transactions, but businesses can also evaluate market trends through in-depth thematic seminars on current areas of interest in the seafood industry in the US, and the world, creating an interesting playground for those interested in the seafood industry. The exhibition also organizes food demonstrations by seafood brands, launching new product lines aimed at consumer convenience and health.

Participating in the 2024 North American Seafood Exhibition, the Vietnam Association of Seafood Exporters and Producers (VASEP) has registered an area of 1,600 square feet to organize a private booth and a joint booth under the National Trade Promotion Program. In 2024, Vietnam has17 seafood companies participated in the exhibition, including 6 Pangasius enterprises, 4 shrimp units, 2 tuna ones, and five enterprises processing and exporting different kinds of seafood products. The leading firms present at the exhibition. Besides, there are companies participating in the exhibition for the first time, showing that the US market always has a special attraction for businesses.

In 2023, Vietnamese seafood exports to the US reached 1.56 billion USD, down 27% compared to 2022. Despite the sharp decline, the US is still the largest market, accounting for more than 17% of seafood exports of Vietnam. The cause of this market's deep decline is due to many factors, such as high inflation, reduced demand, high inventory, price competition with other countries, plus regulations and market barriers such, anti-dumping on pangasius, SIMP program...

The North American Seafood Exhibition is a very important opportunity for businesses to grasp and update the situation to maintain and develop the US market. This is a traditional exhibition where Vietnamese seafood has always maintained its presence since the early days of developing the export market.

In January 2024, exports to the US increased by 63%, of which shrimp increased by 77%, pangasius increased by 83%, and tuna increased by 61%, which is a very positive signal for exports in the near future. The growth of this market will also create positive psychology and influence in surrounding markets such as Canada, Mexico, Brazil, etc.

The association has used the slogan "Vietnam: Sustainable Destination for Seafood" to affirm the industry's development towards a sustainable seafood production, processing, and export industry that complies with Vietnam requirements, and import market during a period when countries are aiming for a green economy and sustainable fishing.

Looking at the Vietnamese products displayed at the exhibition, we can clearly see that the value-added products are Vietnam's advantage compared to other countries in the Asian region. Fierce price competition for traditional products has driven Vietnam's transition to value-added production much faster in recent years. If any business changes direction early, it will reap many opportunities in recent difficult years.

VASEP, the organizer of this exhibition, has provided updated information about the industry and development trends of Vietnamese seafood in the coming time to interested customers. VASEP also showed the publications introducing seafood sector, businesses are fully provided for customers to help them learn more about the products as well as export businesses that do not have the opportunity to come to the exhibition.

The exhibition was honored to welcome Vietnamese Ambassador to the US, Nguyen Quoc Dung, to share and exchange useful information about the market with the VASEP business delegation. The coordination and support of the Vietnamese Trade Counselor in the US as well as the Vietnam Trade Promotion Office in New York are always highly appreciated by the association and businesses during annual exhibitions.