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.
(seafood.vasep.com.vn) Although Germany’s tuna imports have declined, Vietnam’s tuna exports to the market continue to show positive signs. Notably, export value recovered strongly in Q3/2026, and German import data also show Vietnamese products strengthening their position amid competition among suppliers.
(seafood.vasep.com.vn) Seafood exports are holding double-digit growth, but the opportunities are not spread evenly across product groups and markets. As businesses draw up their plans for 2027, Vietnam Seafood Summit 2026 (VSS2026) offers a chance to look ahead together: what to sell, where to sell it, and how to prepare for growth in the coming years.
(seafood.vasep.com.vn) With less than two weeks to go, the Vietnam Seafood Summit 2026 (VSS 2026) will officially take place in Can Tho. Under the theme “Seafood Market Outlook 2027–2029 – Opportunities and Potential for Double-Digit Export Growth,” the Summit is organized by VASEP at a time when seafood businesses are facing rapid market shifts, changing buyer demand, trade policy changes and growing competitive pressure all at once.
(seafood.vasep.com.vn) On October 28, 2026, the China Fisheries & Seafood Expo opened in Qingdao, China. The expo takes place over three days from October 28 to 30, 2026. This is a prestigious specialized seafood exhibition organized annually by Sea Fare Exposition Inc.
(vasep.com.vn) In the first nine months of 2026, Vietnam’s tilapia exports to the CPTPP bloc reached $7 million, marking a 51% year-on-year increase. The bloc rstands as the fourth-largest market for Vietnamese tilapia, trailing Brazil, the US, and Saudi Arabia.
(vasep.com.vn) VASEP has officially announced the program for Vietnam Seafood Summit 2026 (VSS 2026), featuring five in-depth sessions covering industry outlooks, trade barriers, buyer demand, the domestic market, and solutions to improve productivity and reduce costs across the seafood value chain.
(vasep.com.vn) Vietnam’s shrimp exports reached US$3.7 billion in the first nine months of 2026, up 11% year on year. Although growth has been supported by China and several markets within the CPTPP, momentum is slowing as exports to the United States and the European Union decline. Tariff pressures, international competition, and raw material challenges are creating significant hurdles for exporters in the final months of the year.
(vasep.com.vn) Markets are changing faster, buyer requirements are becoming more demanding, and trade barriers are growing increasingly complex. In this environment, seafood businesses need more than an understanding of current market conditions. They need a longer-term perspective to answer a critical question: Where will growth opportunities come from in 2027–2029, and what should businesses do now to prepare? This is one of the key reasons why VASEP is organizing Vietnam Seafood Summit 2026.
(vasep.com.vn) In the first eight months of 2026, Vietnam’s pangasius exports to the Middle East reached US$113 million, up 7% year on year from the same period in 2025. Growth has become more pronounced in recent months. In August alone, exports to the region totaled US$20 million, an increase of 24%. This indicates that demand for Vietnamese pangasius in the Middle East is gradually recovering after a slowdown in March, although the pace of recovery varies across markets.
(vasep.com.vn) China’s shrimp imports continued to grow strongly in 2026, while Vietnam’s shrimp exports to the market also recorded notable growth. However, behind these positive figures lie two distinct trends: Chinese consumption is growing more slowly than imports, and lobster accounts for a substantial share of Vietnam’s shrimp exports to China, making its product mix significantly different from those of Ecuador and India. Exporters therefore need to assess each segment carefully to understand the opportunities and risks.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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