Vietnam’s Affordable, Nutritious Delicacy Captivates China, EU, and the World, Generating Over $200 Million in Revenue Since Early 2023

According to the latest statistics from VASEP, the total export turnover of the fish cake and surimi industry in the first 8 months of 2025 reached nearly $228 million, a 26% increase compared to the same period in 2024. This robust growth is not only driven by traditional markets but also fueled by breakthroughs in potential markets such as the EU and China.

Asian markets remain the primary growth engine for the industry. As of August 2025, South Korea and Thailand are the two largest single markets, with turnovers of $56 million and $53 million, respectively. These markets not only directly consume but also serve as reprocessing hubs to supply neighboring regions, ensuring stable demand.

The CPTPP market bloc also recorded an impressive 24% growth, reaching $37 million in turnover. Exports to major importing markets within the bloc are growing steadily. Japan remains one of the top importers, with nearly $21 million, a 22% increase year-on-year. This indicates that demand for Vietnam’s traditional and high-quality processed products continues to recover and grow.

However, this market group also experienced minor fluctuations last month. Exports to South Korea unexpectedly dropped slightly by 2% compared to the same period last year.

The most notable highlight in the 8-month export landscape is the strong resurgence of the EU and Chinese markets.

Exports to the EU bloc surged by 60%, reaching nearly $20 million. Economic recovery and easing inflation in the region have boosted demand for mid-range, convenient processed products. Leading this growth is Lithuania, with a 69% spike in import turnover. This impressive growth demonstrates that Vietnamese businesses have effectively leveraged the advantages of the Vietnam-EU Free Trade Agreement (EVFTA).

Meanwhile, the China & Hong Kong market also showcased its immense appeal with a 50% growth, reaching $31 million. The increasing consumption and reprocessing demand in this billion-strong market is opening significant opportunities for Vietnamese exporters.

In contrast, the U.S. market remains sluggish, with only a 2% increase after 8 months, achieving a turnover of just under $7 million. This reflects challenges from tax policies and cautiousness among importers.

Overall, the outlook for Vietnam’s fish cake and surimi industry in the final months of the year is highly positive. Global consumer trends are increasingly favoring affordable, convenient, and alternative protein products, which are surimi’s strengths.

It is forecasted that Asian markets will continue to lead growth, driven by stable demand and price flexibility. Simultaneously, the recovery momentum in the EU is expected to persist, focusing on convenient products aligned with cost-saving consumer trends.