In the first four months of 2025, Vietnam’s exports of fish cakes and surimi recorded an impressive surge, reaching over USD 109 million, a 32% increase compared to the same period in 2024. In April alone, exports totaled nearly USD 29 million, up 33% year-on-year, marking a strong recovery after a period of stagnation.
Robust Export Growth Across Asia and Europe
Key traditional markets such as South Korea, Thailand, China, and Japan saw robust growth ranging from 27% to 40%, significantly contributing to the sector’s overall momentum. Meanwhile, Vietnamese exporters have proactively expanded into new markets like Russia, Spain, and the UK, reflecting strong global demand and the industry’s growing adaptability.
Global Consumer Trends Drive Demand for Processed Surimi Products
The rising global consumption of fish cakes and surimi-based products is largely fueled by modern consumer preferences for ready-to-eat, convenient seafood, such as crab sticks and imitation fish products made from surimi. These items, often pre-cooked and ready to consume, are gaining popularity amid increasingly fast-paced urban lifestyles.
As prices for shrimp, crab, and other wild-caught seafood rise due to overfishing, supply shortages, and environmental concerns, surimi is emerging as a more economical and sustainable alternative. According to the FAO Fish Price Index, fish prices averaged 112.8 points in December 2024, highlighting cost pressures across the seafood sector. Surimi’s affordability makes it an appealing option for both budget-conscious consumers and the food service industry, especially in regions where seafood is a dietary staple but becoming more expensive.
Opportunities Accompanied by Competitive and Supply Challenges
Despite the promising outlook, Vietnam’s surimi sector also faces growing challenges. Rising pollock production in Russia and the United States is expected to intensify global competition. Domestically, many producers and exporters are grappling with raw material shortages, which drive up input costs and erode price competitiveness.
In addition, regulatory bottlenecks—particularly delays in issuing SC and CC export certificates—have yet to be fully resolved, leading to a backlog of documentation and disruptions to production and delivery schedules.
Positive Outlook for Vietnam’s Surimi Industry
Vietnam currently has over 50 enterprises engaged in exporting fish cakes and surimi. Among them, Dalu Surimi, Kicoimex, and Khanh Hoang Seafood are the top three players, accounting for 39% of the country’s total export value in this segment.
Despite ongoing challenges, the Vietnamese fish cake and surimi industry is poised for continued growth. With favorable shifts in global consumer behavior and expanding market opportunities, Vietnam is well-positioned to strengthen its role in the global seafood export landscape.
Source: VASEP
