Seafood exports shift toward affordable products

Demand in the Middle East remains high despite delivery challenges

According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), the Middle East is a highly promising market for Viet Nam's seafood exports, with relatively stable growth and export value exceeding USD 401 million in 2025. In addition, the region plays an important role in Viet Nam's fisheries sector's export market diversification strategy.

Therefore, the Middle East conflict will have a significant impact on Viet Nam's seafood exports, especially if it is prolonged and exerts strong effects on global trade and logistics.

Information from seafood enterprises indicates that most delivery activities are still ongoing. However, shipping times have lengthened, and vessel schedules have become less stable.

Meanwhile, logistics costs tended to increase. Many seafood enterprises forecast that freight rates could rise sharply in the coming period, especially if the conflict is prolonged. Logistics costs could even surge, as they did during the COVID-19 pandemic, when shipping costs rose several times above normal levels.

VASEP noted that rising global oil prices are putting pressure on fuel costs, transportation fees, and other input production costs. As oil prices and transport costs increase, enterprises forecast that raw seafood prices could rise in the near future due to higher costs of fishing, aquaculture, and transportation. Cost pressures may affect production efficiency and the competitiveness of seafood exporters.

In terms of markets, food demand in the Middle East remains high. Therefore, orders for Vietnamese seafood to this region have not been canceled but are mainly facing delivery challenges. Currently, some companies have temporarily suspended seafood exports to the Middle East due to transport risks and a shortage of shipping services.

Particularly, pangasius exports to the Middle East are currently on hold, while consumption in some other markets is also slowing. This will make pangasius sales overall more cautious.

Shifting toward affordable products

Ms. Le Hang, Deputy Secretary General of VASEP, stated that the Middle East conflict is affecting the global economy, but seafood remains an essential food item, so demand stays high. In particular, amid major global fluctuations, consumers in many regions tend to increase food stockpiling, including seafood.

In the current volatile and unpredictable context, consumers are likely to reduce consumption of high-end seafood products such as black tiger shrimp and shift toward more affordable items like pangasius, whitefish, tilapia, canned products, and surimi. Therefore, as the duration of the Middle East conflict remains uncertain, seafood enterprises need to pay close attention to this consumption trend.

Rising demand for reasonably priced and nutritious food products is driving the expansion of global surimi and tilapia markets in the coming years. A report by Fortune Business Insights shows that the global surimi market scale is estimated at approximately USD 4.57 billion in 2025, increasing to USD 4.85 billion in 2026, and projected to reach USD 7.83 billion by 2034, representing a compound annual growth rate (CAGR) of around 6.18% over the forecast period.

According to Future Market Insights, the global tilapia market is projected to grow from USD 15.14 billion in 2025 to USD 24.22 billion by 2035, with a CAGR of 4.8%. One of the key drivers of growth in the global tilapia market is the increasing demand for affordable and sustainable protein sources.

Tilapia, known for its mild flavor and versatility across various dishes, is considered a cost-effective alternative to other fish species. Its high protein content and essential nutrients, such as omega-3 fatty acids, make tilapia an attractive option for health-conscious consumers who seek nutritious yet budget-friendly food choices.

Regarding market development, Ms. Le Hang recommended that functional agencies strengthen efforts to remove export barriers, provide early risk warnings, and deliver timely market developments, while stepping up trade promotion to support businesses in diversifying export markets.

For the fisheries sector, in addition to key markets such as the United States, China, Japan, South Korea, and the EU, there are also other potential markets, including South America and South Asia, that can be tapped to expand seafood exports.

$ 1 = VND 26,112 - Source: Vietcombank.