Photo: VASEP/FIS

Surimi Surge: Vietnam's Opportunity to Solidify Growth Amidst Challenges

VIET NAM
Wednesday, April 09, 2025, 00:20 (GMT + 9)

Vietnam's fish paste and surimi exports experienced a robust rebound in February 2025, doubling to reach USD 29 million after a slight dip in January.

This impressive performance propelled the total export turnover for the first two months of the year to over USD 56 million, marking a significant 38% increase compared to the same period last year, according to Nguyen Ha, Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers (VASEP).

Exports Soar Across Key Markets

Data from Vietnam Customs reveals substantial growth in Vietnam's fish paste and surimi exports to most key markets. Notably, February witnessed "skyrocketing" increases in exports to Korea (up 135%), Thailand (up 191%), and China & Hong Kong (up 105%).

Furthermore, Vietnamese fish paste and surimi products have expanded their reach beyond traditional markets, entering new territories such as Russia, Spain, and the UK in the early months of the year.

Global Appetite Fuels Demand

The increasing demand for surimi is significantly driven by today's fast-paced lifestyles, which favor convenient and quick-to-prepare meals. Surimi-based products, including crab sticks and imitation fish, are often pre-cooked and require minimal preparation, making them ideal for consumers seeking rapid lunch solutions. Surimi's versatility extends to various ready-to-eat (RTE) and ready-to-cook (RTC) options within the convenience food sector. These products cater to consumers desiring nutritious and flavorful meals without extensive cooking time, thereby boosting surimi demand. The expanding global packaged food industry further fuels the popularity of surimi-based items due to their long shelf life and ease of storage. Their adaptability in dishes like sushi, salads, and sandwiches makes them a staple for households seeking variety in quick meals. Moreover, surimi's high protein content coupled with low fat and calorie levels positions it as an attractive choice for health-conscious consumers.

The rising prices of popular seafood such as crab, lobster, shrimp, and fish, driven by overfishing, scarcity, and environmental concerns (as evidenced by the FAO Fish Price Index averaging a 5.2% increase in December 2024), are also making surimi an increasingly appealing and economical alternative. Surimi's ability to mimic the texture and flavor of these pricier options provides a cost-effective solution for budget-conscious consumers and the food service industry, particularly in regions where seafood is a dietary staple but is becoming more expensive. Consequently, the global demand for fish paste and surimi products is projected to continue its upward trajectory.

Navigating Increased Competition and Domestic Challenges

Despite these promising opportunities, the Vietnamese surimi industry faces growing challenges. Increased pollock production in Russia and the US is expected to intensify competition in key markets.

Domestically, Vietnamese fish paste and surimi producers grapple with raw material shortages, leading to price inflation and increased production costs, which hinder their competitiveness.

Adding to these difficulties, persistent issues with the issuance of SC and CC certificates for seafood exports continue to cause backlogs, impeding production and export activities.

To ensure robust and sustainable growth, Vietnam's fish paste and surimi industry requires a concerted and synchronized effort involving management agencies, businesses, and fishermen.

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