MEKSEA.COM – In 2024, the Vietnamese seafood industry faced many challenges such as scarce raw materials, declining market demand, increasing international competition, and strict trade barriers. However, the efforts and determination of the entire industry helped exports reach the milestone of over 10 billion USD, marking an impressive achievement.

Industries contributing to growth in Vietnam’s seafood exports 2024

Shrimp Industry: Export Level of 3.9 Billion USD

Vietnam’s shrimp industry has reached an export milestone of nearly 3.9 billion USD, an increase of 15% compared to 2023. Although international markets are under pressure from inflation and fierce competition, Vietnamese shrimp still maintains its competitiveness thanks to focusing on value-added goods and product diversity (whiteleg shrimp, tiger shrimp, lobster, sea shrimp, etc.).

Pangasius industry: Returning to the 2 billion USD mark

Despite rising sea transport costs and a slow recovery in import prices, pangasius exports reached the 2 billion USD mark in 2024, up 9% year-on-year. This is a positive signal for the recovery and sustainable growth of the industry.

Exploited seafood: Turnover of over 4 billion USD

Exploited seafood exports (tuna, crab, octopus, squid, octopus, shellfish, etc.) reached over 4 billion USD, despite challenges of scarce raw materials and strict IUU regulations.

Outlook for 2025

Looking ahead, Vietnam’s seafood exports in 2025 are forecast to surpass the $10 billion mark and move closer to the $11 billion mark achieved in 2022. However, the industry will have to continue to overcome many difficulties, including fluctuating market demand, increasingly stringent international regulations, and fierce competition from other producing countries.

1. Opportunities in Vietnam’s Seafood Export in 2025

Free Trade Agreements (FTAs)

Vietnam has signed 16 free trade agreements and is negotiating three more. In particular, new-generation agreements such as the EVFTA (with the European Union) and CPTPP bring great benefits. They help reduce export taxes, expand market access, and enhance the competitiveness of Vietnamese seafood products. These advantages are especially important in the context of the global economy being affected by geopolitical instability.

The trend of shifting to exporting value-added products

Exporting value-added seafood products is not only a trend but also a long-term strategy for the Vietnamese seafood industry to expand its market and strengthen its position. Utilizing by-products from seafood raw materials is opening up great opportunities, not only increasing the value of the industry but also contributing to the implementation of a circular economic model, minimizing negative impacts on the environment.

New US tax policy

The US import tax increase, expected to take effect in 2025, will create important changes for Vietnam’s seafood industry. In the event that other countries are subject to higher tariffs, the US market may look to Vietnam as an alternative source of supply thanks to its high quality and competitive prices. However, Vietnamese businesses also face many challenges, including increased export costs and the risk of being subject to taxes such as anti-dumping and anti-subsidy taxes.

Taking advantage of opportunities from trade agreements, along with a strategy to develop value-added products and proactively respond to international tax policies, will play an important role in ensuring the sustainable development of Vietnam’s seafood industry.

2. Challenges in Vietnam’s Seafood Export in 2025

Climate change: Climate change has a significant impact on the development, especially the aquaculture industry. Climate change, rising sea levels, saltwater intrusion and water pollution cause many difficulties for the aquaculture and seafood production industry, and the risk of disease also reduces the supply and quality of raw materials.

Increased competition: Factors such as high prices of animal feed, fuel and transportation costs can affect the cost of aquaculture production. This will reduce the competitiveness of Vietnamese products in the international market. Fierce competition between countries is also a significant challenge for the Vietnamese seafood market.

Trade war and market barriers:
Trade wars between major powers, especially between the US and China, can cause major disruptions in the global supply chain. This can lead to changes in input material prices and transportation costs, thereby affecting export prices and the competitiveness of Vietnamese seafood in the international market.
IUU yellow cards, trade protection measures such as anti-dumping, anti-subsidy, or strict regulations on quality and environment can increase costs, reduce supply, and reduce the competitiveness of Vietnamese seafood exporting enterprises.

In addition, geopolitical fluctuations can significantly affect Vietnam’s seafood trade, as the seafood industry plays an important role in exports and the national economy. Geopolitical factors can impact in a variety of ways, from changes in trade policy to regional tensions that can impact supply chains.

Meksea’s high-quality Shrimp products:

As a leading distributor in Vietnam, Meksea has deep knowledge of fishing areas, product characteristics, and seasonal availability.

Meksea enables strict quality control of your product, from raw material sourcing to the final product ready for export.

Our team includes a professional Customer Service staff and a highly experienced QC team that rigorously monitors your shipments from the moment of order.

Additionally, we offer flexible sales policies, allowing you to mix containers for an initial trial order.

With our diverse payment options, you can secure orders that align well with your financial plans.

Meksea brings you our list of best-selling shrimp products this week.

If you are also looking for Shrimp or other seafood products from Vietnam, contact Meksea right now:

Mobile/WhatsApp/Wechat: +84 903 872 469 Mr. Hoang
Email to: hoang@mekseaconnection.com

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About us

Mekong Seafood Connection (MEKSEA) was established in 2010 with the vision of elevating Vietnamese seafood—one of the world’s richest sources—to global recognition for its variety and quality among consumers.

We believe that to successfully showcase Vietnamese seafood on the world stage, it is essential to harness the strengths of capable producers who meet international standards. Alongside this, we are committed to rigorous quality control and sustainable practices. Moreover, we continuously strive to enhance our services, ensuring that customers can have complete peace of mind and trust in every order they place with us.

Kindly please visit Meksea website to explore our shrimp products: https://mekseaconnection.com/product-category/shrimp/

Meksea always pays particular attention to product quality to secure each consumer’s family member’s health and set their mind at rest by bringing in true quality seafood products.

Are you looking for shrimp products for your sales plan for 2025? Contact Meksea right now for the best offers.

By Orange (Meksea Team)

(Reference:VASEP)

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