Vietnam's Seafood Industry 2025: From Export Record to Sustainable Development Strategy

1. Introduction to Vietnam's seafood industry

Vietnam's seafood industry is affirming its position as one of the key economic sectors, with an overall output of nearly 10 million tons in 2025 (up 3% compared to the previous year), of which aquaculture accounted for 6.1 million tons (up 5.1%) and fishing accounted for 3.83 million tons (down 0.2%).  At the same time, export turnover will exceed 11.34 billion USD in 2025, up 13% from the previous year, reflecting strong resilience despite global challenges such as raw material inflation and trade barriers.

According to the Vietnam Association of Seafood Exporters and Processors (VASEP), this industry contributes about 3-4% of national GDP (specifically, by 2025, the fishery industry will increase by 4.41%, contributing 1.33% to the increase in the total added value of the whole economy, while the agriculture, forestry and fishery sector accounts for 11.64% of GDP),  playing a role as a pillar in the structure of agricultural exports. The year 2025 marks a record milestone in seafood export turnover, but at the same time, it also reveals structural challenges such as anti-dumping duties from the US up to 35.29% (preliminary POR19), IUU yellow card from the EU and fierce competition from regional rivals such as India, Ecuador and Indonesia.

In terms of regional structure, Vietnam's fisheries industry is currently unevenly distributed, mainly concentrated in the Mekong Delta with about 70-74% of the national aquaculture area and output, including 95% of pangasius production and 70% of shrimp production, thanks to favorable river geographical conditions; while the Central Coast region is strong in seafood exploitation (accounting for 60% other marine fish production), while the Northern region such as Bac Ninh only contributes a small amount with an output of about 41,000 tons, mainly concentrated farming. This distribution creates the advantage of diversifying supply but also increases the risk of climate change in key regions.

2. The development of the fisheries sector

Overview of export turnover

Source: VASEP

In 2025, Vietnam's seafood industry will achieve a record export turnover of 11.34 billion USD, up 13% compared to 2024, exceeding the initial target and reflecting "recovery" and "breakthrough" thanks to the effective use of free trade agreements (FTAs) and the ability to adapt to trade barriers.

Compared to the previous period, this turnover is higher than 10 billion USD in 2024 and far exceeds the figure of 8.4 billion USD during the COVID-19 epidemic period (2020-2021), demonstrating outstanding growth with a compound annual growth rate (CAGR) of 6.5% from 2020-2025.

However, growth slowed in the fourth quarter due to the impact of US tariffs and MMPA regulations, causing December exports to decline by 4% over the same period, leading to the need to diversify markets to reduce dependency risks.

Key product structure

The structure of Vietnam's seafood industry depends on two main forms: aquaculture (accounting for about 61% of overall production with 6.1 million tons by 2025) and exploitation (accounting for 39% with 3.83 million tons), with processing playing a central role in the value chain, helping to improve added value by 30-40% and meeting strict export standards. The industry also expands the exploitation of by-products such as fish skin and shrimp heads to produce collagen, gelatin and fish oil, making the most of raw materials and increasing economic efficiency by 15-20%.

In 2025, the key product structure will show even growth but still clearly show dependence on shrimp and pangasius, accounting for more than 60% of total turnover, leading to high risks to climate change and epidemics.

• Shrimp: Held the leading position with an export value of 4.65 billion USD, up nearly 20% compared to the previous year, contributing about 41% to the overall growth of the industry thanks to stable demand in major markets and the ability to adapt to trade barriers, although the cost of feed and seeds accounted for 50-60% of the cost.  causing marginal profit to decrease by 5% compared to 2024.

• Pangasius: Reached 2.19 billion USD, up more than 8%, maintaining a stable role in the export value chain thanks to the concentrated farming area in the Mekong Delta (accounting for 80% of production), but growth was limited due to fluctuations in raw material prices (up 12% YoY) and silent epidemics,  reducing yield by 10-15%.

The remaining products such as other marine fish ($2.16 billion, up 12%), squid and octopus ($764 million, up 16%) recorded positive growth thanks to diversification, while tuna fell 7.6% to $913 million due to raw material shortages and strict IUU regulations, leading to a loss of 5% market share in the EU.

Source: VASEP

Main Export Markets

In seafood export markets, China has risen to become Vietnam's largest market with a turnover of 2.07 billion USD in the first 11 months of 2025, up 31.9% over the same period. This outstanding increase reflects the convergence of multiple structural dynamics. First of all, the demand for seafood consumption in China will recover strongly in 2025, especially in the fresh and high-end seafood segment such as lobster, a product group in which Vietnam has a clear advantage in supply. In addition, geographical and logistical advantages help Vietnamese businesses shorten transportation time, reduce costs and losses compared to competitors in North America and Latin America, thereby improving the competitiveness of real prices. Notably, China's retaliatory tariff adjustments on some seafood products from Canada in 2025 will also weaken competitive supply in some segments, indirectly creating more room for Vietnamese seafood to expand market share. 

Meanwhile, the US continues to be the second largest export market with a turnover of 1.78 billion USD, up 6% YoY, showing a stable but selective growth trend. Consumption demand in the US has not decreased, but this market is strongly affected by tariffs and trade barriers, especially for large suppliers such as India. In that context, Vietnamese enterprises have well met the requirements of traceability, sustainability standards and processing quality still maintain growth, although the speed is not as breakthrough as in China.

For Japan, export turnover reached 1.55 billion USD, up 10.3% over the same period, reflecting the role of a stable, high-demand market for high-quality and deeply processed products. The sharp increase in the total value of Japan's seafood imports in 2025, along with the trend of prioritizing reliable suppliers in Asia, has created favorable conditions for Vietnamese seafood to increase its presence and export value.

Overall, the difference in growth rates between China, the US and Japan shows a strategic shift in the export market structure of Vietnam's seafood industry: China acts as a short-term growth driver thanks to large demand and immediate competitive advantages.  while the US and Japan continue to be foundation markets, providing stability and direction for the long-term value enhancement strategy

3. Industry's record-setting motivation

Seafood export growth in 2025 is supported by a combination of exogenous and intrinsic factors, with three main drivers according to VASEP:

(1) Global demand for food stockpiles due to economic uncertainty and supply chain disruptions pushed seafood imports to a high level, with the CPTPP accounting for 27% of the total value (US$3.07 billion, up 22% YoY), leading to short-term growth thanks to the trend of hoarding in developed countries.

(2) The ability of Vietnamese enterprises to flexibly adapt to trade barriers from the US, such as shrimp anti-dumping duties (preliminary POR19 35.29%, plus 20% reciprocal duty to a total of 60%), through the adjustment of production plans and market redirection, helping exports to China & Hong Kong reach 1.56 billion USD (up 39% in 8 months),  offset the decline in the US.

(3) The positive impact of FTAs such as CPTPP, RCEP and EVFTA, helps to diversify markets and offset risks, with exports to the EU reaching nearly 1.2 billion USD (up 12.5%), thanks to a 5-10% reduction in tariff preferences, leading to long-term structural growth.

In addition, domestic support policies such as Decree 320/2025/ND-CP exempt corporate income tax for seafood processing, reduce costs by 10-15% and improve competitiveness, contributing to promoting the industry to exceed record marks. These numbers are not only convincing but also reflect a proactive strategy, as this combination has helped the industry grow twice as much as the ASEAN average (6.5%).

4. Orientations for sustainable development of Vietnam's fisheries industry

With a record growth momentum of more than 11 billion USD in seafood export turnover by 2025, Vietnam's seafood industry has affirmed its position and flexibility in the challenging global context. However, to sustain growth in the period 2026–2030 and beyond, it is necessary to implement sustainable development orientations according to three strategic pillars.

First of all, in the short term, the industry needs to continue to diversify export markets instead of relying mainly on two traditional markets, the US and China. Expanding and penetrating deeper into the ASEAN, Middle East, Africa and South American markets not only helps reduce policy risks in major markets, but also takes advantage of new FTAs and consumer trends. This is also a strategy emphasized by officials and businesses to respond to tariffs and technical barriers in the US and EU, and create a more sustainable growth driver in the next 5-10 years.

In the medium term, the industry needs to accelerate the shift to deep processing and added value instead of focusing too much on raw or semi-raw products. According to industry development reports, increasing the proportion of processed products, combined with modern technology and strict quality management, will help improve competitiveness and limit post-harvest losses. At the same time, the establishment of value chain links between large enterprises, farming facilities, logistics units and international certification systems will support the stability of raw materials and reduce production costs – a decisive factor in the face of stiff competition from countries such as India.  Ecuador, Indonesia or Thailand.

In terms of long-term vision, the key strategy is to shift from cost-based competition to competition based on quality, transparency and sustainable value. This includes building a full-chain traceability system, applying international standards such as IUU and ESG (Environmental, Social and Governance) indicators, as well as strengthening the ability to respond to climate change. These changes not only help reduce environmental impact, but are also a prerequisite for accessing high-end markets and avoiding technical barriers, including the risk of a "yellow card" from the EU and regulation under the Mammal Protection Act (MMPA) in the US after 2025.