Vietnam’s exports of fish cakes and surimi surge, expanding markets in 2025

News 09:14 09/09/2025
(seafood.vasep.com.vn) Vietnam’s fish cakes and surimi exports in the first seven months of 2025 showed impressive growth despite global market volatility. According to Vietnam Customs data, surimi exports in July alone reached over $30 million, increase 23% compared to the same period in 2024. This contributed to a total export turnover of more than $195 million for the period, a 28% increase compared to the same period in 2024.

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.

vietnam’s exports fish cakes surimi

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