Vietnam’s seafood industry is restructuring its market approach with a focus on diversifying export destinations, expanding product portfolios, and enhancing value-added processing — key strategies to mitigate risks and ensure sustainable export growth in a volatile global environment.
Repositioning Strategy Amid Global Trade Challenges
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As global markets fluctuate — especially with U.S. retaliatory tariffs and tightening technical barriers in major import markets, Vietnamese seafood exporters face mounting challenges to maintain market share, competitiveness, and export growth.
The key solution lies in strategic restructuring: diversifying export markets, product categories, and upgrading value-added processing to build a resilient export ecosystem.
Positive Export Performance in Early 2025
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s seafood exports in the first four months of 2025 rebounded strongly, reaching USD 3.3 billion, up 21% year-on-year.
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Shrimp remained the top export, growing 30% year-on-year.
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Pangasius (tra fish) exports increased by 9%.
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China was the largest importer (+56%), followed by Japan (+22%) and the U.S. (+7%).
Despite the recovery, exports to the U.S. still face challenges due to tariff measures and new technical standards.
Enterprises Adjusting to New Trade Realities
Mr. Phan Hoang Duy, Deputy General Director of Caseamex (Can Tho Import-Export Seafood JSC), said the company exports pangasius to around 30 countries, with the U.S. accounting for over 50% of volume. However, rising tariffs have increased costs and reduced competitiveness.
To adapt, Caseamex is redirecting exports to Europe and Asia, reviving old partnerships, and cutting production costs to maintain profitability.
VASEP: Expanding Markets Through FTAs
According to Ms. Le Hang, Deputy Secretary-General of VASEP, exporters must take advantage of preferential trade agreements — such as EVFTA, CPTPP, and RCEP — to expand into Europe, Japan, and South Korea, where demand for Vietnamese seafood is growing.
New potential regions include the Middle East and South America, which can help reduce dependence on a few major markets.
Example: Vietnamese shrimp entering the EU currently enjoys zero tariffs, while Chinese shrimp faces 12–20% duties — a competitive advantage Vietnam should capitalize on.
Stable Growth in the EU and Key Traditional Markets
Although not groundbreaking, seafood exports to the EU in 2024 maintained steady growth, especially for whiteleg shrimp, black tiger shrimp, tuna, pangasius, and clams — proving that traditional markets still hold significant potential if product quality and supply stability are improved.
Vietnamese Presence at the Global Seafood Expo 2025
At the 31st Global Seafood Exhibition in Spain (May 2025), VASEP and 28 Vietnamese companies showcased national branding and promoted export products — a tangible sign of Vietnam’s commitment to market diversificationand reduced dependency on high-barrier markets.
Singapore and Brazil: Emerging Strategic Markets
Singapore is becoming a key growth destination, where Vietnam now ranks 4th among seafood suppliers, after Malaysia, Indonesia, and Norway. Vietnam leads in fish fillets and chilled/frozen fish products, categories with stable demand.
The Vietnam Trade Office in Singapore has partnered with VASEP to support exporters through trade promotion, exhibitions, and branding assistance — emphasizing packaging innovation and compliance with import standards.
Meanwhile, Brazil is emerging as a strategic market in South America. With stable demand, competitive prices, and positive regulatory signals, Brazil offers new opportunities for pangasius and tilapia exports.
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26 Vietnamese companies are currently exporting to Brazil, including major names such as Hung Ca, Cadovimex, Nam Viet, and Hoang Long.
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Brazil recently lifted its import suspension on Vietnamese tilapia, creating room to expand beyond pangasius (which already accounts for 38% market share).
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In Q1 2025, seafood exports to Brazil surged by over 70% year-on-year.
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Brazil is also reviewing food additive and phosphate regulations, previously a barrier for Vietnam’s deep-processed seafood — signaling growth potential for value-added products like breaded pangasius and fish balls.
Diversifying Products: Tilapia and Beyond
Alongside market diversification, the industry is expanding its product base.
Tilapia, now recognized as a strategic aquaculture species, is expected to complement shrimp and pangasius and reduce market risk exposure.
Mr. Tran Dinh Luan, Director General of the Directorate of Fisheries, emphasized that tilapia farming will balance the aquaculture structure, supporting both export expansion and domestic food security.
Leveraging FTAs and Building Value-Added Capacity
Free trade agreements such as CPTPP, EVFTA, and bilateral deals provide Vietnamese enterprises with major opportunities to offset challenges in high-barrier markets like the U.S.
Companies are increasingly focusing on:
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Deep processing and product innovation
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Cost optimization and quality enhancement
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Developing alternative markets
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Boosting value-added exports
Government Viewpoint: Diversification as a Long-Term Strategy
Deputy Minister of Agriculture and Environment Phung Duc Tien stressed that in a volatile global economy, diversifying export markets is not just a short-term necessity but a long-term survival strategy.
“Enterprises must meet diverse international standards, including strict Halal certification, to access new markets. With adequate preparation, Vietnam can overcome these trade barriers,” he said.
He also urged exporters to strengthen quality control, reduce costs, improve processing capabilities, and enhance trade promotion, particularly in large markets such as China.
“Enhancing the overall health of the seafood sector is the foundation for Vietnam’s sustainable competitiveness in global trade,” he emphasized.