Japan, the U.S., and Hong Kong drive growth
Vietnam’s scallop export market structure in 2025 shows a clear shift toward high-value and transshipment markets. Japan emerged as both the fastest-growing and largest import market, reaching USD 14 million, up 173%. The United States maintained its position as a major market with nearly USD 13.8 million, increasing by 10%. Hong Kong also recorded strong growth of 142%, reaching nearly USD 9 million.
Notably, exports to several markets surged sharply, including South Korea (up 334%), the UAE (up 314%), and Canada (up 167%). In contrast, some traditional markets declined, such as Denmark (down 46%) and Australia (down 9%).
In the first two months of 2026, export market dynamics continued to shift, with exports to Australia increasing elevenfold, Japan nearly fivefold, Canada nearly twenty-fourfold, and the U.S. doubling.
These trends indicate that Vietnam is rapidly emerging as a key processing and transshipment hub in the global scallop supply chain, particularly in relation to flows originating from Japan.
Global market restructuring creates opportunities for Vietnam
The global scallop market in 2025 and early 2026 has not seen a decline in demand, but rather a significant restructuring of supply sources and trade flows. Japan remains one of the world’s largest suppliers but is reducing exports to China and redirecting shipments to other markets, reshaping global supply chains.
The sharp increase in Vietnam’s exports to markets such as Japan, the U.S., Australia, and Canada suggests that the country is becoming more deeply integrated into the value chain, particularly in processing and re-export activities.
Meanwhile, demand in the EU remains stable, with importers increasingly seeking diversified supply sources. U.S. importers are facing shortages of large-sized scallops and are boosting imports. Asian markets continue to be fast-growing consumers of high-value seafood.
Outlook
Given current trends, 2026 presents clear opportunities for Vietnam’s scallop processing and exporting enterprises.
First, companies can capitalize on the ongoing restructuring of global supply chains. Vietnam holds a strong advantage as a processing and transshipment hub, especially for raw materials sourced from Japan.
Second, Vietnam can further expand in high-value markets such as Japan, the U.S., the EU, Australia, and Canada, where import demand is rising.
Third, the growing consumer preference for convenience products—such as IQF frozen scallops, seasoned ready-to-cook scallops, and retail-packaged products—offers opportunities to increase exports of value-added products.
Fourth, businesses have opportunities to diversify markets, as strong growth in destinations like the UAE, South Korea, and ASEAN highlights significant potential beyond traditional markets.
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