Enhancing resilience for the seafood industry

Declining exports to the US alongside growth in Asian markets are driving the imperative to diversify destinations and boost value addition across the seafood sector.

The United States remains one of the most important export markets for Vietnamese seafood, although its share has declined from around 18-20% to 15.5-17% in recent years. In August 2026 alone, exports to the US fell sharply across several key products, including shrimp, pangasius and tuna, while China, ASEAN and many other Asian markets continued to grow strongly.

According to Nguyen Hoai Nam, Secretary General of the Viet Nam Association of Seafood Exporters and Producers (VASEP), this trend shows that the seafood industry needs to maintain its foothold in the US market, where demand for deeply processed products remains strong, while developing additional growth drivers in other markets to reduce dependence on any single market.

Viet Nam currently has around 1,500 seafood exporters, including approximately 1,000-1,100 companies that own processing plants. This is an important advantage for Viet Nam compared with many competitors, as it generates more value through processing rather than relying solely on raw material supplies.

Products such as tempura shrimp, breaded seafood, ready-to-eat products and convenience foods have helped Vietnamese businesses remain competitive with countries that enjoy cost advantages in raw materials, such as India and Ecuador. This also highlights the industry's growth potential, which lies not only in expanding output but also in increasing product value.

However, pressure in the US market currently comes not only from import tariffs but also from trade defense measures, anti-dumping and countervailing duties, traceability requirements, technical standards and various new requirements related to sustainable development. According to VASEP, amid rapidly changing international trade policies, businesses need greater access to information and early-warning mechanisms so they can proactively adjust their production and export plans.

Alongside maintaining its market share in the US, the Vietnamese seafood industry also has significant room for growth in Japan, South Korea, ASEAN, China-Hong Kong, and the EU. These major consumer markets suit a wide range of Vietnamese products and could become new growth drivers if businesses tap into them effectively.

According to Nguyen Hoai Nam, increasing market share requires businesses to go beyond trade promotion and conduct more in-depth research into market demand, consumer trends, distribution systems and competitors. At the same time, they need to strengthen connections with importers and retailers and leverage Vietnamese trade offices to provide market and policy information.

As global trade becomes increasingly unpredictable, market diversification, a higher share of value-added products, greater transparency in origin and traceability, and stronger risk-management capabilities are considered the foundation for Vietnamese seafood to enhance resilience, sustain growth and strengthen its position in the global market.

Ha Duyen