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.
(vasep.com.vn) Vietnam’s tuna exports reached USD 81 million in April 2026, down 6% compared to the same period in 2025. In the first four months of the year, export turnover totaled USD 289 million, down 4.8%. Although the overall export picture has yet to brighten significantly, market trends are becoming increasingly diversified rather than moving in a single direction.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is undergoing strong restructuring starting from the broodstock and fingerling segment in order to improve productivity, quality, and export competitiveness. This is considered a critical foundation for the sustainable development of the industry amid rising production costs and increasingly stringent market requirements.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports in April 2026 reached USD 206 million, up 18% compared to the same period in 2025 — marking another consecutive month of double-digit growth since the beginning of the year. Cumulative pangasius export turnover in the first four months of 2026 reached USD 720 million, up 17% year-on-year, reflecting the positive growth momentum of this key export product.
(seafood.vasep.com.vn) Vietnam’s shrimp exports in the first four months of 2026 maintained positive growth momentum, reaching approximately USD 1.5 billion, up 15% compared to the same period last year. However, behind this result lies diverging trends across markets, as the global shrimp industry continues to face pressure from inflation, high inventories, price competition, and increasing trade risks.
(seafood.vasep.com.vn) In Vinh Tuy commune (Kien Giang Province), many shrimp farmers are adopting bottom aeration systems and reporting clear economic benefits, helping increase income and reduce production risks.
(vasep.com.vn) In the first three months of 2026, Vietnam’s exports of crabs and other crustaceans reached more than USD 93 million, up 23% compared to the same period last year. The result shows that the sector is experiencing a fairly positive recovery, especially in its two key product groups: crabs and swimming crabs. However, behind the growth figures are several concerns: export markets remain highly concentrated, raw material supply is unstable, and trade barriers from the US and EU are becoming increasingly stringent.
(seafood.vasep.com.vn) In Ca Mau province, many farmers are transitioning from traditional methods to high-tech shrimp farming, adopting recirculating systems with minimal water exchange to improve efficiency and reduce risks. In Hung My commune alone, there are about 260 super-intensive shrimp farming households covering more than 265 hectares, playing a key role in local economic development.
(seafood.vasep.com.vn) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.
(seafood.vasep.com.vn) Favorable weather conditions in the early months of 2026 have brought encouraging signs for fisheries activities in Quang Tri. Output has grown steadily, contributing to improved livelihoods for local residents.
Entering 2026, Vietnam’s seafood industry is facing a period of both high expectations and mounting pressures. Following the positive recovery in 2025, production and export activities in Q1/2026 demonstrated the strong adaptability of Vietnam’s seafood business community amid continued global trade volatility, intensifying international competition, and increasingly stringent compliance requirements in import markets.
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