There has been a clear recovery in Vietnam’s squid and octopus sector this year after a prolonged period of fluctuation from 2022 to 2024, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).
In the first five months of this year, the export value of these products reached nearly US$ 274 million, an increase of more than 14% compared to the same period of 2024, with VASEP noting that traditional markets continued to grow steadily, while emerging markets also showed positive signals, creating hope for a breakthrough year.
South Korea remains Vietnam’s largest market, with imports in the first five months of 2025 exceeding $100 million, accounting for 36% of Vietnam’s total exports and up 6% compared to the same period in 2024. Vietnam mainly exports frozen cuttlefish and boiled octopus to this market.
Japan followed with nearly $69 million, up 19% year-on-year. Exports of squid and octopus to Japan have been on the rise thanks to stable demand and the appeal of high-quality products such as sashimi and boiled octopus.
Exports to China have also rebounded strongly, with high growth over the past two months after a decline earlier this year. This uplift is attributed to the reopening of the Chinese market, which has recently increased imports of frozen and semi-processed squid to serve its foodservice sector. The export value to China in the first five months reached more than $26 million, a 2% increase year-on-year.
Exports to the EU have also accelerated in recent months, with a total value of nearly $15 million in the first five months (up 11% year-on-year), the EU ranks as Vietnam’s fifth-largest market for squid and octopus. Exports to the bloc’s top three markets – Italy, Spain and Belgium – grew by 6%, 71%, and 24% respectively.
Additionally, several emerging markets such as the Philippines, UAE, Cambodia and Canada recorded growth of over 40% compared to the same period last year, showing great potential in the mid-range and convenience product segments.
VASEP said that based on the strong trade foundations laid in the first five months, Vietnam’s exports could top more than $700 million this year. However, it added that to achieve this target, businesses also need government support in facilitating the domestic raw material supply, and in promptly resolving bottlenecks related to the certification and verification of harvested seafood.
