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.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
(seafood.vasep.com.vn) Amid the increasingly evident impacts of drought and saltwater intrusion, the shrimp-rice production model in Ca Mau province continues to prove itself as a viable direction, contributing to higher farmer incomes, improved soil conditions and the promotion of ecological and sustainable agricultural development.
(seafood.vasep.com.vn) The management of fishing vessels, monitoring of fishing activities, and handling of violations in the fisheries sector in Lam Dong province have continued to be implemented in a synchronized and stringent manner, contributing to raising awareness of legal compliance among fishermen and aiming to end illegal, unreported and unregulated (IUU) fishing.
(seafood.vasep.com.vn) Can Tho’s fishery industry sustained steady growth in 2025 with total aquatic and marine output reaching nearly 783,000 tons, fulfilling 100% of the annual target. Aquaculture, capture fisheries and fishing fleet management were further strengthened, aiming for sustainable development in the coming years.
(seafood.vasep.com.vn) In 2025, Vietnam’s pangasius export turnover reached nearly USD 2.2 billion, up 8% year-on-year. This result indicates that pangasius exports maintained their growth momentum despite significant volatility in the global market environment. In December 2025, pangasius export value reached USD 200 million, up 10% compared to December 2024. This solid performance in the final month of the year reflects increased import demand for consumption and inventory replenishment in key markets.
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain experienced significant fluctuations. According to Vietnam Customs, during the first 11 months of 2025, export turnover for the first 11 months of the year edged up by 0.3% year-on-year, reaching nearly $15 million.
(seafood.vasep.com.vn) Deputy Prime Minister Bui Thanh Son has signed Decision No. 16/QD-TTg, dated January 5, 2026, approving the implementation plan for the Vietnam-Israel Free Trade Agreement (VIFTA). Under the plan, in the coming period, ministries, ministerial-level agencies, government-affiliated entities and People’s Committees of provinces and centrally-run cities must institutionalize and execute tasks focused on the dissemination of information regarding VIFTA and the Israeli market; legislative and institutional development, as well as enhancing competitiveness and human resource growth...
(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.
(seafood.vasep.com.vn) Ca Mau, widely regarded as the nation’s “shrimp capital”, continued its strong performance in 2025 as shrimp output reached nearly 600,000 tons, maintaining its position as Vietnam’s leading shrimp-producing locality.
(seafood.vasep.com.vn) On December 29, 2025, at the 2025 Pangasius Industry Review Conference held in Can Tho City, the Vietnam Pangasius Association announced that fingerling prices have surged to record levels due to acute supply shortages.
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