Photo: VASEP/FIS

Vietnam Drives Global Surimi Product Recovery: Record Exports in 2025

VIET NAM
Monday, November 03, 2025, 00:10 (GMT + 9)

The global market is strongly recovering, with Vietnamese exports exceeding $257 million, boosted by growth in Asia and the European Union.

The year 2025 is marking a clear and robust recovery in the global surimi industry, with significant growth momentum coming mainly from the consumer markets in Asia-Pacific. In this scenario of reactivation, Vietnam has cemented its position as a key player, achieving notable export figures.

According to information provided by Ms.Nguyen Ha, a Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP), the value of Vietnam's exports of fish cakes and surimi surpassed $257 million USD in the first nine months of the year. This figure represents an impressive 26.1% increase compared to the same period in 2024.

Key Markets and Double-Digit Growth

Asian markets remain the main engine of the industry, led by South Korea and Thailand. These countries account for 25% and 23% of Vietnam's total export volume, respectively, and both registered solid double-digit growth: 17% in South Korea and 24% in Thailand.

Foto: Dai Truong Phu JSC

Other markets that showed significant progress include:

• China and Hong Kong: Exports expanded by 45%, reaching nearly $36 million.

• European Union (EU): A spectacular rebound of 79% was observed, thanks to the strong recovery in demand in countries like Lithuania and Spain.

• Malaysia: Stands out for a sudden growth, with turnover increasing by 44% in the first nine months, signaling Southeast Asia as a new potential consumption area for Vietnamese products.

Furthermore, exports to the countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) also showed positive signs with double-digit growth, leveraging the bloc's tariff incentives.

Investment in Value-Added and Future Outlook

The global surimi market recovery is accompanied by a trend toward the production of value-added products. After bottoming out at the end of 2023, global surimi prices are recovering, driven by increased demand for pre-processed and convenient foods, such as crab sticks, fish cakes, and seafood cakes.

According to a September 2025 report by market consultancy IMARC Group (as an additional external source), the global surimi market is valued at approximately $7.1 billion USD and is projected to reach a value of $9.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.9%. This data underscores the long-term outlook for the industry.

Major manufacturing companies in Thailand, China, and Vietnam are responding to this trend by investing heavily in advanced processing lines to increase the value of their products. The industry also faces increasingly stringent requirements in terms of traceability, sustainability certification, and food safety, which have become mandatory conditions for maintaining export positions.

Challenges and Opportunities for Vietnam

Analysts, including VASEP, predict that the global surimi price will remain stable or increase slightly until the end of 2025, thanks to rigorous control of raw materials and the continued consumer demand recovery. For 2026, sustainable market growth at a rate of 5-7% annually is expected, with Asia maintaining a fundamental role and an expansion of value-added products in Europe and the United States.

However, Vietnamese companies must also face intense competitive pressure from regional suppliers, along with fluctuations in logistics costs and technical barriers.

The key for companies in Vietnam lies in proactively developing raw material strategies, investing in value-added products, and diversifying their markets and distribution channels. Expanding into high-growth markets like Malaysia and the EU, or maximizing the tariff benefits of the CPTPP bloc, are viable strategic options to secure their position. The year 2025 offers a crucial window of opportunity for Vietnam to affirm itself not only as a raw material supplier but also as a processing and exporting partner with high competitiveness and a sustainable orientation in the global surimi supply chain.

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