Vietnam’s Globally Sought-After Commodity: Major Nations Rush to Import in Mass Quantities

According to Vietnam Customs data, the export turnover of fish cakes and surimi from Vietnam reached USD 327 million in the first 11 months of 2025, marking a 22% increase compared to the same period in 2024; specifically, November 2025 saw a 5% rise, reaching USD 35 million.

While the overall export of fish cakes and surimi products maintained strong growth during the 11-month period, there are signs of market segmentation.

Some markets are experiencing cyclical stagnation due to inventory and purchasing power, while emerging or rising destinations, particularly the EU, China, and Hong Kong (China), are witnessing rapid growth.

In the first 11 months of 2025, exports to South Korea and Thailand maintained high growth rates compared to the same period, increasing by 11% and 16%, respectively. However, in November alone, export turnover to both markets recorded a decline compared to the previous year.

This trend signals that businesses should closely monitor short-term order fluctuations, proactively adjust production plans, remain flexible with delivery schedules and pricing, diversify product ranges, and stay attuned to customer and retail chain demands.

Conversely, the EU emerged as a highlight, with export turnover reaching USD 32 million, accounting for approximately 10% of the total and surging by 91% in the first 11 months of 2025. Notably, Lithuania recorded the strongest growth among major markets, reaching USD 29 million, representing 9% and a 108% increase compared to the same period.

Alongside the EU, Vietnam’s fish cake and surimi exports to China and Hong Kong continued their positive growth, rising by 46% year-on-year.

Exports to Japan also saw a 19% increase in the first 11 months of 2025, surpassing USD 30 million. Given its high standards and relative stability, Japan remains an ideal destination for businesses capable of maintaining quality control, adhering to production standards, and developing value-added product lines.

Currently, over 50 companies are engaged in exporting fish cakes and surimi, with leading firms including Dalu Surimi, Kicoimex, and Coimex.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the competitive landscape in the global fish cake and surimi market is shifting along three main axes. First is the demand for convenience products, prioritizing ready-to-eat, easy-to-use items suitable for retail and food service channels.

Second is the requirement for consistent quality and supply stability to meet long-term contracts and mitigate risks in a volatile market. Third is the trend toward standardized documentation, traceability, and compliance with increasingly stringent technical requirements, particularly in the EU and other demanding markets.

VASEP forecasts that the EU and China–Hong Kong will remain key growth drivers in the coming period, buoyed by their strong performance in 2025. However, the EU’s stringent standards and documentation requirements, coupled with pricing competition and order volatility in China, will intensify.

Meanwhile, South Korea and Thailand will continue as cornerstone markets, though short-term fluctuations may become more pronounced, influenced by inventory levels and seasonal factors. In this context, businesses must develop flexible production strategies to effectively adapt to market dynamics, VASEP emphasizes.