Many countries compete in aquaculture, but only Vietnam has turned this product into a billion-dollar industry, holding 95% of the world’s market share.
The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that over the past two decades, the Vietnamese catfish industry has established a strong position in the global market. With an export turnover consistently exceeding 2 billion USD per year, catfish has contributed to making Vietnam a seafood export powerhouse.
According to Vietnam Customs, in the first half of June 2025, Vietnam’s catfish exports reached 86 million USD, an increase of 6% compared to the same period last year. By June 15, 2025, catfish exports were 915 million USD, an increase of 11% compared to the same period in 2024.
Vietnamese catfish accounts for 95% of the global market share.
The frozen fillet product group HS0304 continues to play a leading role, accounting for over 80% of the total export value, with a growth rate of 10%. The highlight lies in the deep-processed product group under HS code 16, with 24 million USD by June 15, 2025. This is a 59% increase despite only accounting for 2.6% of the total value of Vietnamese catfish exports to all markets.
The value chain still heavily depends on low value-added processed products despite impressive export turnover, typically frozen fillets with HS code 0304. The fierce price competition, changes in global consumer behavior, and the 20% tax policy from the USA may be pushing the Vietnamese catfish industry into a mandatory restructuring phase.
Especially, not only the United States but many other markets such as Europe, Canada, Japan, and Mexico are also demanding products with a higher level of processing.
In addition, American and EU importers are increasing orders for processed products, mainly from Vietnam, as competitors like India and Indonesia do not have enough processing capacity yet.
The VASEP said that whether we like it or not, the catfish industry is being pushed into a phase where low-value processed products can no longer ensure competitiveness.
Transitioning to deep processing is not just a trend but a necessity for survival. Any business that hesitates to restructure its portfolio, invest in technology, and build its brand will soon be left behind by the market. On the contrary, those who dare to change, dare to invest, and volunteer will keep the highest value of Vietnamese catfish in the global supply chain.