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.
(vasep.com.vn) Vietnam has strengthened its position in China’s massive seafood market, becoming the largest lobster supplier while maintaining a dominant share of the country’s imported pangasius.
(vasep.com.vn) Vietfish 2026 was more than just a larger exhibition space. Through B2B meetings, booth discussions, production-chain visits and post-show feedback, businesses and buyers found something more concrete: suitable suppliers, processing capabilities, technology solutions, new markets and a foundation for building long-term trust and partnerships.
(vasep.com.vn) Vietnam’s tilapia exports to the United States declined significantly in the first seven months of 2026. Cumulative export value reached US$18 million, down 42% from the same period in 2025. In July alone, exports amounted to just US$2 million, plunging 70%, indicating a clear slowdown in import demand from the US market.
(vasep.com.vn) At the seminar “Global Seafood Markets and the Future Workforce: Trends, Opportunities and Directions for the Sustainable Development of Vietnam’s Fisheries Sector,” held as part of VIETFISH 2026, Ms. Shirlene Maria Anthonysamy, Fisheries Officer (Markets) and GLOBEFISH Coordinator at the Food and Agriculture Organization of the United Nations (FAO), presented initiatives aimed at promoting youth participation in fisheries and aquaculture.
(vasep.com.vn) In the first seven months of 2026, Vietnam’s pangasius exports to the United States reached US$189 million, down 8% year-on-year. In July alone, export value reached US$22 million, down 28%. This trend indicates that U.S. demand for pangasius imports has remained relatively cautious this year, as importers tend to maintain moderate inventory levels and limit stockpiling.
(vasep.com.vn) After three days at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the Vietnam International Fisheries Exhibition – VIETFISH 2026 – has successfully concluded, leaving a strong impression in terms of scale, visitor numbers, the quality of business connections, and innovative activities. With more than 14,000 m² of exhibition space, 335 companies, 568 booths, participation from representatives of 17 countries and territories, and nearly 15,000 visitors, VIETFISH 2026 has once again affirmed its role as an important meeting point for Vietnam’s and the global seafood industry.
(seafood.vasep.com.vn) Held as part of Vietfish 2026 from August 19–21 at SECC in Ho Chi Minh City, a series of five specialized seminars provided the seafood business community with updates on markets, technology, standards, human resources and cooperation opportunities. With the participation of experts, international organizations, government agencies and businesses from Vietnam and abroad, the seminars created an additional platform for professional exchange alongside the exhibition’s product showcases and business networking activities.
(seafood.vasep.com.vn) On the morning of August 19, 2026, the Vietnam International Seafood Exhibition – VIETFISH 2026 officially opened at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City. With 568 booths representing 335 companies, alongside the presence of senior government officials, local authorities, diplomatic missions and international partners, VIETFISH 2026 kicks off three days of business networking, technology exchange and market engagement under the overarching theme “Innovation and Sustainability.”
The Vietnam Association of Seafood Exporters and Producers (VASEP) officially announces that the Vietnam International Seafood Exhibition (Vietfish 2026) will take place from August 19–21, 2026, at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.
(seafood.vasep.com.vn) Vietnam’s seafood exports recorded strong growth in the first half of 2026, but the performance was increasingly uneven across products, markets and enterprises. VASEP’s newly released premium report provides the detailed data and analysis needed to understand what lies behind the headline figures and prepare for the more challenging months ahead.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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