This growth reflects the recovery of demand in many major markets, particularly in Asia and CPTPP member countries. At the same time, Vietnamese companies’ strategies of expanding into niche markets and tapping non-traditional markets are proving effective.
Asia continues to play a leading role
South Korea remains the largest market with $42 million in exports, up 26% year-on-year. However, in June, exports to this market fell slightly compared to May, indicating a period of demand adjustment following the strong performance in the first and second quarters.
Thailand recorded $39 million, up 28%, continuing to serve as an ASEAN hub for surimi processing and re-export.
China & Hong Kong achieved the highest growth at 49%, reaching $22 million. This is the result of China imports for processing raw materials due to domestic supply shortages.
CPTPP and Japan see steady recovery
Exports to CPTPP member countries hit nearly $26 million, up 19%, driven by the recovery of orders from Japan (24% growth), Malaysia (6%) and Canada (21%). This is a positive signal showing that tariff preferences under the CPTPP agreement continue to help maintain the competitive advantage of Vietnamese seafood in these markets.
EU market shows strong but uneven growth
Total exports to the EU reached $13 million, up 3%, largely driven by Lithuania ($11 million, up 45%). Some smaller markets saw sudden growth compared to the same period such as Spain (840% growth, under $1 million) and Belgium (156%). Meanwhile, exports to France and Italy are still declining, but the rate of decline is slowing.
The U.S market slows down
Exports to the U.S in the first half of 2025 reached $6 million, up 15% year-on-year. However, in June alone, they fell sharply by 35.4% compared to the previous month. This decline raises concerns that the US may be adjusting its import policies or shifting orders to other suppliers, particularly as countervailing duties and subsidy investigations expand in the seafood sector.
Expanding exports to niche markets
Many small or emerging export markets for Vietnamese fish cakes and surimi are posting triple-digit growth rates, such as the UAE (up 470%), Mauritius (261%) and New Zealand (1,171%). This shows that there is still considerable market potential if businesses focus on products tailored to the preferences of each market.
However, the scale of these markets remains small and insufficient to offset losses if exports to large markets like the US or EU encounter obstacles.
While current growth is positive, Vietnam’s fish cake and surimi exports will face several challenges in the second half of the year. First, price competition from regional rivals such as India, Thailand and China. Secondly, logistics and raw material costs are expected to rise from Q3. Third, changing consumer preferences in developed countries, particularly declining consumption of ready-to-eat frozen products in the US and Europe.
If the current export momentum is maintained and strategies are adjusted flexibly, total fish cake and surimi export revenue in 2025 is forecast to continue growing. However, this is the optimistic scenario, which largely depends on trade policy developments in major markets, especially the US.
(vasep.com.vn) On November 11, 2026, in Can Tho, the Vietnam Association of Seafood Exporters and Producers (VASEP) will organize the Vietnam Seafood Summit 2026 (VSS 2026) under the theme “Seafood Market Outlook 2027–2029: Opportunities and Headroom for Double-Digit Export Growth.”
(seafood.vasep.com.vn) Business leader Do Ngoc Tai, General Director of Tai Kim Anh Seafood Processing Joint Stock Company, was honored by the Vietnam Chamber of Commerce and Industry (VCCI) with the title “Outstanding Vietnamese Entrepreneur – Thanh Giong Cup 2026” at a ceremony celebrating Vietnam Entrepreneurs’ Day (October 13). The event took place on the evening of October 11, 2026, at the National Convention Center in Hanoi.
(vasep.com.vn) The global tilapia market is becoming increasingly segmented, not only among producing countries but also by product type and destination market. Supply is divided into groups with distinct competitive advantages: large volumes of whole fish and frozen fillets from Asia, high-value fresh fillets from Latin America, and substantial domestic consumption in several major producing countries.
(vasep.com.vn) Vietnam’s tuna exports to the UK grew in the first eight months of 2026, despite signs of slowing import demand in the market. However, sharp fluctuations in orders, competition from major suppliers, and new traceability requirements are creating challenges for Vietnamese exporters.
(seafood.vasep.com.vn) Vietnam is stepping up efforts to combat illegal fishing, protect marine ecosystems, expand digital monitoring, and develop science-based management to ensure the sea can support communities and the economy for generations to come.
(seafood.vasep.com.vn) The EU remains a critical market for Vietnamese shrimp; however, purchasing demand and import patterns are undergoing notable changes. According to Vietnam Customs data, as of September 15, 2026, Vietnam’s shrimp exports to the EU reached nearly $374 million, down 5% year-over-year and accounting for 10.7% of the country’s total shrimp export value. Meanwhile, the EU’s stotal shrimp imports through July 2026 contracted by 7% in volume, exhibiting divergent trends across Southern Europe, Northwestern Europe and Eastern Europe. These dynamics necessitate that Vietnamese enterprises closely monitor individualized market demand, rather than approaching the EU as a monolithic consumer block.
(seafood.vasep.com.vn) In the first eight months of 2026, Vietnam’s exports of surimi and fish cakes remained relatively stable year-over-year compared to 2025. Following a contraction in the initial months, export performance demonstrated improvement from June onward, peaking in August. However, the recovery has been uneven, characterized by divergent trends across major markets: robust growth was recorded in China, Japan, Malaysia, the United States, and Taiwan, whereas export volumes to South Korea, Indonesia, and select European markets contracted.
(seafood.vasep.com.vn) Pangasius remains one of Dong Thap’s key aquaculture species, with the province focusing on developing an integrated value chain covering seed production, commercial farming, deep processing and by-product utilization. The province is promoting high-tech, circular pangasius farming models featuring reduced water exchange and enhanced biosecurity, aiming to improve production efficiency and strengthen control over raw material quality.
(vasep.com.vn) Vietnam’s seafood exports in September 2026 are estimated at US$1.135 billion, up 11.9% year-on-year, bringing total exports in the first nine months of the year to US$9.103 billion, up 11.4%. Behind this double-digit growth, however, increasingly divergent market trends are emerging: China–Hong Kong and ASEAN posted strong growth, while the U.S., EU and Japan all recorded declines in September.
(vasep.com.vn) In the first eight months of 2026, Brazil became the largest market for Vietnamese tilapia, with export value reaching US$44 million, up 22,142% year-on-year and accounting for 49% of Vietnam’s total tilapia exports. In August alone, exports to Brazil reached US$4 million. However, behind this remarkable growth is a market that is imposing increasingly stringent requirements on imported supplies.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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