Key Markets Show Strong Growth
South Korea and Thailand remain the two largest markets, importing USD 49 million (up 21%) and USD 46 million (up 24%) respectively in the first seven months of the year. Both markets consume these products directly and reprocess products for regional distribution.
Within CPTPP markets, export value of this product group rose 23% to USD 31 million. Japan led with a 25% growth, reflecting signs of recovery in traditional processed products. Malaysia and Singapore also showed positive growth at 19% and 21%, respectively.
Notably, in July 2025 alone, exports to China and Hong Kong skyrocketed by 104% year-on-year. Cumulative exports for the first seven months reached $26 million, rise 57%, driven by rising demand for both consumption and reprocessing.
The EU emerged as a bright spot, with July imports surging 89%. Total exports for the period reached $16 million, up 47%, led by Lithuania and Spain.
By contrast, the U.S. market remained modest at $6 million with a slight increase (2%). However, July 2025 saw a sharp 74% decline compared to July 2024, due to new countervailing tariff policies and cautious importers.
Global market context
On the international market, global surimi supply remains abundant, keeping prices under downward pressure. Japanese buyers are selective, accepting price increases only for premium grade-A surimi, while lower-grade products maintain stable prices. In the EU, declining inflation has boosted purchasing power, supporting demand for mid-value processed products. South Korea increased seafood imports in the first half of 2025, strengthening its role as one of Vietnam’s key markets.
Meanwhile, the U.S is considered the most policy-risk-prone market. New countervailing tariffs may affect potentially undermining competitiveness, especially as exemptions for specific HS codes remain unclear.
Outlook for the second half of 2025
In the latter half of 2025, Asian markets are expected to continue driving growth in Vietnam’s fish cakes and surimi exports, supported by stable demand and flexible pricing. The EU is forecast to maintain its recovery momentum, with a focus on convenient, small-packaged products catering to cost-conscious consumers. China and Hong Kong show strong growth potential but face intense competition from Russian and ASEAN suppliers.
The U.S. remains the most unpredictable market. Businesses are advised to secure contracts only with clear tariff confirmations.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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