Pangasius exports are projected to reach US$2.2 billion in 2025.
Vietnam's pangasius industry is projected to reach $2.2 billion in export revenue in 2025 and aims for $2.3 billion in 2026 by capitalizing on the global shortage of whitefish.
By the end of 2025, Vietnam's pangasius industry recorded a strong recovery with export turnover estimated at nearly 2.2 billion USD. According to the Vietnam Association of Seafood Processing and Export (VASEP), this figure not only affirms the position of pangasius products on the world seafood map but also creates a stepping stone for the industry to aim for 2.3 billion USD in 2026.
Bright spots from emerging markets
Analysis from VASEP shows a notable shift in the structure of the pangasius export market. While traditional markets face pressure, emerging markets and free trade agreement blocs are recording exceptional growth.
- Brazil:It became the brightest spot with a growth rate of 35%, capturing an 8% market share.
- CPTPP bloc:Contributing $340 million (accounting for 17% of the market share), a sharp increase of 37%. Countries such as Mexico, Malaysia, and Japan were the main drivers.
- China:It continues to be the largest pillar market with a 27% market share, although the growth rate is only 2.3%.
Pressure in the United States and stability in the EU
In the US market, export turnover recorded a 3.3% decrease due to reciprocal tariff barriers, currently accounting for 15% of the market share. Conversely, the EU market remained stable with an 8% market share over the past three years.
In terms of product structure,frozen catfish filletExports still play a key role, accounting for approximately 98% of total export value, equivalent to $1.5 – $1.6 billion. While deeply processed products grew by 13-19%, they still account for a modest share (around 2.4%), indicating significant potential for expansion in the value-added segment.
Outlook 2026: Opportunities arising from the shortage of whitefish supply
Looking ahead to 2026, VASEP forecasts that pangasius export revenue could reach US$2.3 billion, a 5% increase compared to 2025. The main driving force comes from the expected global decrease of approximately 145,000 tons in the supply of naturally caught whitefish, forcing European importers to seek more stable alternative sources.
However, Ms. To Thi Tuong Lan, Deputy Secretary General of VASEP, emphasized that businesses need to pay special attention to ESG (Environmental, Social and Governance) standards. Meeting requirements for traceability, emission reduction, and social responsibility will be a prerequisite for penetrating deeper into the EU market and international retail chains.
Communication challenges and technical barriers
Despite opportunities, the pangasius industry still faces many risks. In China, negative media coverage of the product is a concern that needs to be addressed. Meanwhile, protectionist and anti-dumping policies in the United States continue to put significant pressure on domestic businesses.
Nevertheless, with stable production capacity across an area of 6,400 hectares and an output of approximately 1.67 million tons, the pangasius industry is accelerating digital transformation and technology application to enhance transparency, aiming for sustainable development and affirming its pivotal role in Vietnam's fisheries sector.
