Vietnamese workers process cat fish
To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the domestic market presents significant opportunities due to shifting consumer trends, while speaking at a press conference on July 6. Vietnamese consumers are moving from traditional fresh products to frozen and processed seafood, which offer greater convenience and meet modern food safety standards. The rise of the middle class is also fuelling this transformation.
"Seafood products once destined for Western markets are returning to serve domestic consumers," Lan said. “To support this shift, VASEP will soon establish a dedicated club to connect exporters with domestic retail systems, especially supermarket chains.”
VASEP forecasts Vietnam’s seafood export turnover for 2025 would reach around USD 9 billion, a 10 per cent decline compared to 2024. A key factor behind this drop is the contraction of the US market, which has traditionally played a pivotal role for Vietnamese exporters. However, current trade policies and retaliatory tariffs are creating mounting risks for businesses.
According to Truong Dinh Hoe, senior advisor to VASEP, seafood exports to the US fell 20 per cent in July compared to the same period last year. Despite this, he remains cautiously optimistic that demand may recover toward the year-end holiday season, a traditional peak in consumption.
In the first half of 2025, Vietnam’s seafood exports reached USD 5.25 billion, up 19.5 per cent year-on-year. This reflects not only the improvement in global demand but also the adaptability of Vietnamese companies in volatile conditions.
“To compensate for losses in the US market, companies are actively seeking alternative destinations,” Hoe said. “Many value-added Vietnamese seafood products are well received in the US, where Ecuador has yet to penetrate deeply. That’s why US importers still prefer Vietnamese goods.”
To further diversify markets and mitigate risk, Vietnamese exporters are now expanding into Latin America. Brazil has officially opened its market to Vietnamese shrimp and pangasius, and Colombia and Peru also present strong growth potential, according to VASEP.
In Asia, Thailand, Singapore, and the Philippines are key targets, alongside efforts to increase market share in the Middle East. Despite fierce competition from India, Ecuador, Thailand, and the Philippines, Vietnam remains a top-tier supplier of premium value-added seafood to international markets.
VASEP will host the Vietfish 2025 International Seafood Exhibition in Ho Chi Minh City from August 20 to 22. This year’s event will welcome 280 companies from 17 countries and territories. It will feature high-quality products and cutting-edge aquaculture and processing technology, B2B trade connections, hosting industry-focused seminars, and culinary experiences highlighting Vietnamese seafood exports to the global market.