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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(vasep.com.vn) The application of biotechnology in seed production is increasingly viewed as a strategic imperative to upgrade pangasius fingerling quality, optimize farming efficiency and anchor sustainable industry development.
(vasep.com.vn) On September 15, 2026, in Can Tho, VASEP and ASC jointly organized a training course titled “New ASC standards: updates and practical implementation guidance for farms, businesses and aquafeed mills”. Beyond briefing stakeholders on updated ASC requirements for aquaculture facilities and feed production, the workshop dedicated substantial floor time to directly addressing on-the-ground compliance bottlenecks encountered by Vietnamese enterprises.
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(vasep.com.vn) Vietnam’s shrimp exports reached US$3.3 billion in the first eight months of 2026, up 12% year on year. However, growth has begun to slow and become more differentiated across markets, while the U.S. and EU continue to present significant challenges. The latest insights from the Global Shrimp Forum 2026 (GSF 2026), held in early September, also indicate that the final months of the year will remain highly competitive as global supply continues to expand and buyers increasingly focus on quality, product specifications, supply stability and the ability to meet market-specific demand.
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(seafood.vasep.com.vn) Vietnam–Russia relations are entering a new phase of cooperation, with a focus on expanding trade, investment and economic connectivity. Against this backdrop, tuna is emerging as one of the seafood products with significant growth potential in the Russian market. Export data for the first seven months of 2026 show strong growth in Vietnamese tuna exports to Russia. However, turning this momentum into sustainable market share will require businesses to address challenges related to logistics, payment and supply competition.
(seafood.vasep.com.vn) Vietnamese tilapia is moving into a higher-value segment as brackish-water farmed fish from the Mekong Delta is now being processed for sashimi and exported regularly to Japan.
(seafoo.vasep.com.vn) Ca Mau Province is stepping up efforts to protect aquatic resources and promote transparent and sustainable fisheries, joining the country’s efforts to have the European Commission (EC) remove its “yellow card” warning for illegal, unreported and unregulated (IUU) fishing.
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