According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in April 2025 alone, Vietnam's export turnover of fish cakes and surimi reached nearly 29 million USD, an increase of 40% over the same period last year. In the first 4 months of the year, this product group brought in more than 109 million USD, an increase of 32% over the same period in 2024.
Currently, more than 50 Vietnamese enterprises participate in exporting fish cakes and surimi, of which the two leading units account for 39% of the total export turnover of the industry.
Key markets such as Korea, Thailand, China, and Japan all recorded strong growth from 2740%. In addition, Vietnamese enterprises are also rapidly expanding their market share in new markets such as Russia, Spain and the UK. This is a positive signal for the industry in the context of increasingly fierce global competition.
According to VASEP, growth momentum comes from changes in consumer behavior. Surimi products such as crab and fake fish are popular thanks to their convenient properties - often processed, easy to store and save cooking time.
However, while demand increases, domestic raw material supply is limited, causing input prices to increase, affecting competitiveness. Especially when the US and Russia - 2 markets with large reserves of braised carp are also boosting production. This is the main raw fish for surimi production, and is a direct competitor to Vietnamese products.
