Photo: VASEP/FIS

Vietnamese Pangasius: Trade Promotion and Market Expansion

VIET NAM
Thursday, March 20, 2025, 06:00 (GMT + 9)

Vietnam's pangasius industry is a vital export sector, significantly contributing to the nation's seafood trade.

As Ms. Thu Hang, Editor of the Vietnam Association of Seafood Exporters and Producers (VASEP), highlights, maintaining and expanding market share requires both high-quality products and effective trade promotion strategies in today's competitive and integrated global market.

Growth and Market Expansion

According to Vietnam Customs, pangasius exports have demonstrated impressive growth over the past decade, rising from $1.6 billion USD in 2015 to over $2 billion USD in 2024, with a peak of $2.4 billion USD in 2022. This growth is significantly attributed to targeted trade promotion activities in key markets.

These activities have not only secured market share in traditional markets but also facilitated expansion into emerging markets like Brazil. Pangasius exports to Brazil have experienced an average annual growth of approximately 14% between 2015 and 2024, increasing from $77.7 million USD to $129.3 million USD, a 66% increase.

Vietnamese pangasius has become the most popular imported species, far surpassing Argentine hake.

Value-Added Products and Brand Enhancement

The industry has successfully shifted from primarily exporting frozen pangasius to offering value-added products like breaded pangasius, fish balls, and pangasius sausages, now available in numerous international supermarkets. Trade promotion initiatives have played a crucial role in enhancing consumer awareness and perception of these products.

Furthermore, international promotional campaigns have significantly improved the image of Vietnamese pangasius. Once considered a "cheap fish," it is now recognized by many international consumers as a high-quality product with sustainable origins and food safety standards.

Challenges in Implementing Trade Promotion Programs

Despite the successes, implementing trade promotion programs presents several challenges:

• High Costs: Promotional activities, particularly participation in international trade fairs, are expensive, especially for SMEs.
• Fierce Competition: Vietnamese pangasius faces intense competition from other seafood products and from other pangasius exporting countries.
• Changing Consumer Tastes: Increasing demand for sustainable and high-nutritional-value products requires continuous innovation.
• Technical Barriers and Import Policies: Stringent food safety standards and trade barriers pose significant challenges.

Solutions to Enhance Trade Promotion Effectiveness

To optimize trade promotion effectiveness, businesses should:

• Leverage digital technologies (e-commerce, social media, AI).
• Develop products aligned with market demands.
• Foster collaboration among businesses, industry associations, and international organizations.

Upcoming Events

The Global Seafood Expo 2025 in Barcelona (May 6-8, 2025) presents a significant opportunity for the global seafood community. VASEP will participate with a 464m2 national booth and will organize promotional activities, focusing on shrimp, tuna, and pangasius.

VASEP, in collaboration with the Ministry of Agriculture and Rural Development and the Vietnamese Embassy in Spain, will also host a Pangasius Reception Program to promote the product's value in the European market.

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www.seafood.media

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