With a positive growth momentum in the first five months of 2025, the Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that the export value of squid and octopus for the entire year of 2025 could exceed 700 million USD.
According to the VASEP, after a long period of fluctuation from 2022 to 2024, the squid and octopus sector has recovered strongly in 2025. In just the first five months of the year, the export value of this product group reached nearly 274 million USD, an increase of over 14% compared to the same period last year.
Traditional markets maintain their performance, while new destinations are emerging as new drivers for the growth of the entire industry.
Squid and octopus exports are expected to exceed 700 million USD in 2025.
South Korea continues to be the largest export market for squid and octopus from Vietnam in the first five months of 2025, with over 100 million USD, accounting for 36%. Compared to the same period last year, the export value of squid and octopus to South Korea increased by 6%. South Korea mainly imports frozen squid and pre-processed octopus from Vietnam.
Japan is the second-largest export market for squid and octopus from Vietnam, with nearly 69 million USD, corresponding to a 19% increase compared to the same period last year. Vietnamese products exported to this market are increasing due to stable demand and advantages in high-quality products such as sashimi and steamed octopus.
China has also recorded a notable recovery after a period of decline at the beginning of the year. In the past two months, this market has reopened and increased imports of frozen squid and preprocessed products for the food service chain. The total export turnover to China in 5 months reached over 26 million USD, an increase of 2%.
The EU market shows positive signals with a total turnover of nearly 15 million USD in 5 months, an increase of 11%. Strong growth was recorded in Italy (6%), Spain (71%), and Belgium (24%).
In addition, many emerging markets, such as the Philippines, UAE, Cambodia, and Canada, recorded growth rates above 40% compared to the same period, indicating significant potential in the mid-range segment and convenient products.
According to the VASEP, with stable growth momentum, the export turnover of squid and octopus in 2025 is expected to exceed 700 million USD. To achieve this goal, businesses need to enhance deep processing, strengthen traceability, and proactively expand into developing countries and niche markets.
Notably, the government’s support in removing barriers to domestic raw material sources is considered a key factor in building the foundation for this strategic industry to develop sustainably and increase added value in the export chain.