Surimi and fish cake export enter a new cycle
According to Vietnam Association of Seafood Processing and Export (VASEP), in 2025, global fish cake and surimi market will enter a clear recovery cycle after a period of tight consumption. Main driving force comes from trend of convenient, affordable food, especially in Asia and modern retail channels in the US and EU. Vietnam's export turnover for this product group is expected to reach over US$344 million, a 15% increase compared to 2024 and a 13% increase compared to 2023.
Surimi has the advantage of being a reasonably priced protein source, easy to process and suitable for convenient dishes. In the US, the "crab stick" product line continues to spread strongly in retail and online channels thanks to its price and convenience.
In EU market, demand is recovering towards smaller, more convenient, and cost-effective packaged products, while some market forecasts suggest that the EU consumes a significant amount of surimi raw materials.
Thanks to this trend and efforts of businesses, 2025 was a positive year for Vietnamese fish cake and surimi industry, with continuous growth since the beginning of the year. However, growth rate tended to slow down towards the end of the year.
According to statistics, South Korea, Thailand, China, EU and Japan were the top five importers of Vietnamese fish cakes and surimi last year, accounting for over 81% of total export value. Of these, EU is the most noteworthy market with a "late growth spurt" but rapid acceleration towards the end of 2025.
Exports to the EU last year reached over $35 million, double amount in 2024. Towards the end of this year, exports to EU grew even faster, at times reaching triple digits. This growth is crucial because EU often comes with high requirements regarding standards, documentation and certificates; doing well in these areas will help businesses raise their quality standards to expand into other demanding markets.
Along with EU, export to the remaining four markets in the Top 5 also increased compared to 2024. Exports to China also grew continuously last year, reaching over $54 million, a 41% increase.
Meanwhile, South Korea continues to be the largest importer of Vietnamese fish paste and surimi. However, export to the South Korean market were unstable last year, with several months experiencing declines. Export value only reached nearly $83 million, a 5% increase.
According to VASEP, global fish paste and surimi market will continue to grow. Consumption demand remains strong, especially in the convenience product segment. However, importers will prioritize suppliers with stable quality, delivery and proper documentation. The fish paste and surimi industry will continue to face cost pressures and quotas, and seasonality may keep raw material prices high, especially for whitefish surimi.
Demand for value-added products continues to grow faster than raw materials, especially products such as crab sticks and flavored fish paste. Markets will increasingly demand stricter requirements regarding labeling, additives, allergies, traceability, factory standards and supply chain responsibility, which will be a "decisive factor" when closing deals in major markets such as the EU or the US. Based on the above analysis, VASEP forecasts: "Vietnam's exports of fish paste and surimi are expected to continue their growth trajectory in 2026".
Pangasius exports - need to capitalize on niche market opportunities
According to data from Vietnam Customs, Vietnam's value-added (VAT) pangasius exports are projected to reach US$51 million in 2025, an 8% increase compared to 2024. This reflects efforts of Vietnamese pangasius processing and exporting businesses in diversifying products and increasing the value of pangasius products. However, behind this overall growth is a clear differentiation among importing markets.
The US continues to play a key role as a market for Vietnam's VAT pangasius products. Export of processed pangasius to the US market are projected to reach over $17 million in 2025, a 22% increase compared to 2024. However, since August, Vietnamese products have been subject to a 20% retaliatory tariff, impacting import value in this market. In December 2025 alone, export value of processed pangasius decreased by 19% compared to the same period last year. This result shows that consumers in the US market still have demand for deeply processed products; however, the loss of price competitiveness has caused Vietnamese processed pangasius products to lose some of their competitive edge compared to other products.
In Asian region, several markets recorded impressive growth. Export of processed pangasius to Japan are projected to reach nearly US$5 million in 2025, a 70% increase compared to 2024, demonstrating significant potential for processed products that cater to consumer preferences. Similarly, export to South Korea are expected to reach US$600,000 in 2025, an 85% increase year-on-year, while exports to Israel are projected to reach US$500,000, a sharp 146% increase compared to 2024. These figures reflect growing demand in niche markets where consumers are increasingly interested in convenient, high-value-added processed products.
In addition, several other markets also recorded positive growth. Export of value-added pangasius to Canada are projected to reach US$800,000 in 2025, an 84% increase compared to 2024; Export to Switzerland reached US$700,000, a 41% increase compared to the same period last year. These markets, though still modest in size, are opening up new growth opportunities for Vietnam's value-added pangasius exports.
Conversely, many traditional markets are showing a clear downward trend. Value-added pangasius exports to the UK in 2025 are projected to reach US$4 million, a 24% decrease compared to 2024. Export to Australia are expected to exceed US$4 million, a 21% decrease, while exports to the Netherlands will reach nearly US$3 million, a 9% decrease. Notably, value-added pangasius exports to China in 2025 are projected to reach only about US$0.21 million, a sharp 66% decrease compared to 2024.
VASEP believes this decline reflects challenges related to consumer demand and competition from substitute products in developed markets. These markets have stringent standards and requirements for sustainability certification. This presents both a challenge and an opportunity for Vietnamese pangasius businesses to consider changing their strategies for pangasius products, especially processed pangasius. As pangasius products become increasingly difficult to compete on price, businesses need to enhance product value through reputable brands, international certifications, and expansion into potential markets.
Overall, export picture of value-added pangasius (HS code 16) in 2025 shows that growth trend will be maintained but unevenly.
“In the coming period, pangasius industry needs to continue diversifying markets, developing processed products, and flexibly adjusting strategies according to each specific market, in order to take advantage of growth opportunities and minimize risks from external fluctuations,” VASEP forecasts.

Source: Vitic/ congthuong.vn