Key markets such as South Korea, Thailand, China, and Japan all recorded solid growth, with increases ranging from 27% to 40%.
In addition, exporters have made effective inroads into new markets such as Russia, Spain, and the UK, indicating a trend toward expanding market share early in the year.
This growth is partly driven by evolving consumption habits. Modern consumers increasingly favor convenient, ready-to-eat products like imitation crab sticks and fish-based items made from surimi. These products are typically pre-cooked and require no further preparation, making them ideal for fast-paced lifestyles and quick meals.
Amid rising prices for seafood such as shrimp, crab, and fish—caused by overfishing, supply shortages, and environmental concerns—surimi is emerging as a more economical and sustainable option. For instance, the FAO Fish Price Index averaged 112.8 points in December 2024. This cost advantage makes surimi particularly appealing to budget-conscious consumers and the food service sector, especially in regions where seafood is a dietary staple but is becoming increasingly expensive. As a result, global demand for surimi and fish cake products is expected to continue rising.
However, opportunities often come with challenges
Currently, pollock production is on the rise in Russia and the U.S., which is likely to intensify competition in major markets. At the same time, Vietnamese producers and exporters of fish cakes and surimi are facing multiple difficulties. A shortage of raw materials has pushed up input prices, increasing production costs and making it harder for Vietnamese products to stay competitive. Meanwhile, issues related to the issuance of SC and CC certificates for seafood exports remain unresolved, with a backlog of applications hindering operations and export activities.
Vietnam currently has more than 50 companies exporting fish cakes and surimi. The top three exporters—Dalu Surimi, Kicoimex, and Khanh Hoang Seafood—account for 39% of the country’s total export value.
Despite these challenges, positive shifts in the market and consumer trends offer a promising outlook. Vietnamese surimi and fish cake exports are expected to continue gaining momentum in the coming months.
(vasep.com.vn) Vietnam’s tuna exports sustained their upward trajectory in August 2026, though the pace remained modest at just 2%. The month saw divergent trends across key markets: the US maintained its leading position, Japan and Canada improved, Russia surged and the EU continued to experience a steep downturn. These developments suggest that exporters are entering the final months of the year amid a market environment marked by greater uncertainty.
(vasep.com.vn) Vietnam’s shrimp exports reached $3.3 billion in the first eight months of 2026, up 12% year on year. However, growth momentum is moderating and market divergece is becoming more pronounced, while the US 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 place greater emphasis on quality, product specifications, supply consistency and the ability to meet market-specific demand.
(vasep.com.vn) Vietnam’s pangasius exports continued to grow in August 2026, bringing total export value in the first eight months of the year to US$1.5 billion, up 10% year-on-year. August exports alone reached US$205 million, up 6%. However, market performance has become increasingly divergent, with China and Brazil posting positive growth while the U.S. continued to record a sharp decline.
(vasep.com.vn) Vietnam’s seafood exports reached US$1.14 billion in August 2026, up 6.4% year on year, bringing the total for the first eight months to more than US$8.0 billion, an increase of 11.9%. Monthly export value remained above US$1 billion, but August growth was only around half the rate recorded cumulatively through the first eight months. This indicates that the eight-month result was supported significantly by stronger performance in earlier months, while market conditions are entering a less predictable period.
(seafood.vasep.com.vn) Pangasius is attracting growing interest from Japanese seafood companies as prices of many traditional whitefish species remain high and supply becomes increasingly volatile. Notably, seafood group Kyokuyo has recently continued to feature pangasius among its priority products, highlighting its competitive pricing and stable supply.
(seafood.vasep.com.vn) As Vietnam’s tilapia industry searches for new growth opportunities, venturing into brackish-water aquaculture could unlock a formidable competitive moat. Bypassing the volume-and-price bloodbath against established global heavyweights, Vietnam could differentiate itself through high-quality tilapia products tailored to specific farming conditions and value-added market segments.
(seafood.vasep.com.vn) 2026 is rapidly shaping up to be a formidable stress test for Vietnamese pangasius exports to the United States. While exports to alternative markets maintain a resilient growth trajectory, the U.S market has declined significantly. In the first eight months of the year, pangasius exports to the U.S fell by nearly 14% year-on-year, with August alone recording a decline of more than 50%. The trend shows that difficulties in the U.S. market are not driven solely by weak consumer demand, but also by multiple layers of trade barriers that are intensifying simultaneously, particularly additional import tariffs, anti-dumping duties and growing protectionism for the domestic catfish industry.
(vasep.com.vn) Vietnam’s pangasius exports to Japan are showing positive signals in 2026, indicating that the market is opening up greater opportunities for pangasius products, particularly processed and value-added products. In the first seven months of 2026, Vietnam’s pangasius exports to Japan reached US$31 million, up 20% year-on-year. In July alone, export value reached approximately US$5 million, up 30%.
On July 22, 2026, the Government issued Decree No. 292/2026/ND-CP detailing certain articles and providing measures for the organization and implementation of the Law on Foreign Trade Management. The Decree takes effect on September 5, 2026, replacing Decree No. 69/2018/ND-CP.
(vasep.com.vn) Vietnamese pangasius producer Vinh Hoan has won the top prize at the 2026 Seafood Excellence Asia Awards for its Cured Panga Croquette, highlighting the growing potential of value-added pangasius products in international markets.
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