Vietnam’s fish cake and surimi exports surge, EU market emerging as a late-2025 growth driver

News 09:43 20/01/2026
(seafood.vasep.com.vn) Beyond achieving double-digit growth, Vietnam’s fish cake and surimi exports are showing a notable year-end "inflection point": the EU his accelerating with nearly twofold growth, China & Hong Kong are rising sharply, while the largest market, South Korea, signaled a slowdown in November. According to Vietnam Customs data, export turnover of fish cake and surimi reached $327 million in the first 11 months of 2025, up 22% year-on-year; November 2025 alone accounted for $35 million, marking a 5% increase. This serves as a critical foundation for exporters to reassess market structures and competitive intensity while finalizing order strategies for 2026.

Divergence in export markets

Although Vietnam’s fish cake and surimi exports maintained strong overall growth through the first 11 months, November’s performance revealed a lack of uniformity across markets. Some destinations have begun to slow due to inventory cycles and softer demand, whereas emerging destinations - most notably the EU, China & Hong Kong - are expanding rapidly.

Exports to South Korea and Thailand remained higher year-on-year for the 11-month period, up 11% and 16%, respectively. However, November saw a year-on-year decline in both markets. This signals short-term order volatility that exporters need to closely monitor, requiring greater flexibility in delivery schedules, pricing and product variety, alongside closer engagement with retail chains.

In contrast, the EU emerged as a standout growth driver, reaching $32 million (a 10% market share) and surging 91% year-on-year in the first 11 months of 2025. Notably, Lithuania recorded $29 million, representing a 9% share and a remarkable 108% increase - the strongest growth among major markets.

Alongside the EU, exports to China & Hong Kong also posted robust growth of 46% year-on-year.

Japan followed suit with a significant 19% increase, exceeding $30 million. As a market known for its “high standards and stability”, Japan remains a strategic destination for enterprises with strong capabilities in quality control, production standards and the development of value-added product lines.

Competition intensifies beyond pricing

Competition in the global fish cake and surimi market is increasingly evolving along three main dimensions. First is convenience-oriented products - ready-to-eat and easy-to-use items tailored for retail and the horeca segment. Second is consistent quality and supply stability, enabling longer-term contracts and reducing risks amid market volatility. Third is the standardization of documentation, traceability and technical requirements, particularly for the EU and other high-standard markets.

Looking ahead, the EU, China & Hong Kong are expected to remain key growth engines, supported by strong momentum in 2025. However, requirements regarding standards and documentation (EU), as well as price competition and order pacing (China), will become more stringent. Meanwhile, South Korea and Thailand will maintain their roles as cornerstone markets, though short-term fluctuations may become more pronounced due to inventory levels and seasonality; consequently, enterprises should prepare flexible volume coordination strategies to adapt.

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