Vietnam: Frozen Whole Fish Market 2025

Frozen Whole Fish Market Size in Vietnam

In 2021, after two years of growth, there was decline in the Vietnamese frozen whole fish market, when its value decreased by -1.6% to $X. In general, consumption, however, saw a relatively flat trend pattern. Frozen whole fish consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Frozen Whole Fish Production in Vietnam

In value terms, frozen whole fish production rose modestly to $X in 2021 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Frozen whole fish production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Frozen Whole Fish Exports

Exports from Vietnam

In 2021, frozen whole fish exports from Vietnam rose significantly to X tons, surging by 14% compared with the year before. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.8% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen whole fish exports skyrocketed to $X in 2021. In general, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons), Colombia (X tons) and the Philippines (X tons) were the main destinations of frozen whole fish exports from Vietnam, with a combined 47% share of total exports. These countries were followed by Malaysia, the United States, Thailand, Russia, Italy, Japan, Mexico, South Korea, Taiwan (Chinese) and Saudi Arabia, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +68.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen whole fish exported from Vietnam were China ($X), the United States ($X) and the Philippines ($X), together accounting for 44% of total exports. Colombia, Malaysia, Italy, Thailand, Russia, South Korea, Japan, Saudi Arabia, Mexico and Taiwan (Chinese) lagged somewhat behind, together comprising a further 32%.

Russia, with a CAGR of +66.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen whole fish export price stood at $X per ton in 2021, growing by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Whole Fish Imports

Imports into Vietnam

In 2021, the amount of frozen whole fish imported into Vietnam skyrocketed to X tons, with an increase of 19% on the previous year's figure. Overall, imports, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen whole fish imports stood at $X in 2021. In general, imports, however, showed a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X tons), South Korea (X tons) and China (X tons) were the main suppliers of frozen whole fish imports to Vietnam, with a combined 56% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +19.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest frozen whole fish suppliers to Vietnam, with a combined 51% share of total imports.

South Korea, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average frozen whole fish import price amounted to $X per ton, declining by -11.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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