Market potential
Fish consumption in the ASEAN region is projected to rise from 24.5 million tons in 2015 to 36.9 million tons in 2030 and then reach 47.1 million tons in 2050, while per capita fish consumption is expected to increase from 38.4 kg in 2015 to 51.5 kg in 2030 and then 61.5 kg in 2050.
Over the past 20 years, Vietnam's seafood exports to ASEAN have been fluctuating, but have been on the rise for the last 10 years. Vietnam's seafood exports to ASEAN have increased from US$66 million in 1998 to US$612 million in 2017.
Vietnam's seafood exports to ASEAN
Over the past 20 years, Vietnam's seafood exports to ASEAN increased from US$66 million in 1998 to US$612 million in 2017.
By the end of 2017, Vietnam's seafood products have been exported to all 9 ASEAN countries. Thailand, the Philippines and Singapore were the 3 biggest importers of Vietnamese seafood products, accounting for 82-96% of the total seafood export value to ASEAN.
Thailand held as the largest seafood importer of Vietnam in ASEAN. Vietnam's seafood exports to the market in the past 20 years increased continuously, and has increased nine-fold. Specifically, in 1998 total seafood export turnover of Vietnam reached only US$27 million, accounting for 41% of total value of seafood exports to ASEAN. By 2017, the figure has increased to US$248 million, up 816% from 1998.
The Philippines was currently the second largest seafood buyer of Vietnam. Vietnam's seafood products have been approaching this market since 1999. Then, Vietnam's seafood exports to the Philippines have increased steadily. Sales to the Philippines over the past 19 years increased from US$63,000 to US$132 million.
Singapore ranked the 3rd in top leading importers of Vietnam seafood. However, from 1998 to 2016, exports to Singapore is always took the largest proportion in ASEAN. But from 2011 to 2017, with the continuous growth, Thailand has overtaken Singapore as Vietnam's largest seafood importer in ASEAN.
In terms of products, marine products currently accounted for a large proportion of Vietnam's seafood exports to ASEAN. In particular, marine finfish is the main product line of Vietnam exported to the market, followed by cephalopod. From 1998 to 2017, Vietnam's exports of marine finfish to ASEAN increased continuously. The export value increased from US$8 million in 1998 to US$289 million in 2017. Fresh/frozen marine finfish was the key product shipped to the market.
Meanwhile, from 1998 to 2008, Vietnam’s cephalopod exports to the region tended to decrease. But from 2009 to 2017, exports to ASEAN increased continuously. The export value of Vietnam cephalopod to ASEAN in the past 20 years has increased from US$7 million to US$71 million. In particular, dried/grilled squid was the main export item to this market, accounting for 85% of the total export value of cephalopod to ASEAN.
Pangasius ranked the second. In the period of 1998-2001, Vietnam’s pangasius exports to ASEAN stayed very low. From 2002 onwards, thanks to the increasing demand for aquaculture in this market, together with the growing sector of Vietnam pangasius industry, pangasius exports to ASEAN continued to grow. Vietnam’s pangasius exports to ASEAN have gone up from US$1.7 million in 1998 to US$143 million in 2017. The frozen pangasius fillets (HS code 0304) kept as the main export product to this market.
Shrimp currently ranked the third in top main seafood itmes exported to ASEAN. In the past 20 years, shrimp exports to this market fluctuated. The year 2004 was the most successful year of Vietnamese shrimp in Asean market with US$93 million.
As of 31st December 2015, the ASEAN Economic Community (AEC) was established. Vietnamese seafood processing companies can take advantage to increase their exports in this common market.
(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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