Vietnam’s surimi industry needs more efforts

In 2023, Vietnam’s fish paste and surimi export turnover was estimated at 303 million USD, down 27% compared to 2022. In the past five years, Vietnam’s fish paste and surimi industry earned from 300-420 million USD each year, including surimi from marine fish and pangasius, accounting for 4%-5% of the country’s total seafood exports.

Last year, due to the impact of the economic crisis, the demand for seafood in general, and surimi in particular, decreased. This affected Vietnam’s surimi exports. With a predicted world economic recovery, exports of this product group will increase again. According to experts, surimi production and export will thrive thanks to its popularity as a cost-effective seafood ingredient, particularly in Asian cuisine. In addition, consumers favor surimi’s high nutritional value and suitable shelf life.

Vietnam currently has more than 100 enterprises engaged in exporting fish paste and surimi, with DALU SURIMI, CASES and KICOIMEX stand out in the top 3.

Vietnam’s surimi products are exported to more than 40 countries around the world. Although in 2023, surimi enterprises made efforts to expand to smaller markets, it was still not enough to offset the decline in main export markets. The top 6 largest import markets of Vietnam’s fish paste and surimi include Korea, Thailand, Japan, China and Hongkong, Malaysia and the US, accounting for nearly 83% of total export turnover.

According to businesses and localities, the biggest problem of the surimi and fishmeal processing industry today is the fish preservation process, wastewater treatment and skilled labor supply. If solved, the surimi and fishmeal industry will soon enter the billion-dollar club in the near future.

With the aim of cooperating, supporting each other to improve the value and quality of Vietnam’s surimi and fishmeal products, cooperating closely for mutual benefit in the implementation of issues related to raw materials, quality, environmental responsibility, social responsibility, markets, barriers and policies, on 22 December 2023 Vietnam Association of Seafood Exporters and Producers (VASEP) organized the “Surimi and Fishmeal Industry Conference – Establishment of the VASEP Surimi and Fishmeal Business Club”.

(Source: https://seafood.vasep.com.vn/)