China is the largest consumer market for Vietnamese pangasius

According to the latest report from the Vietnam Association of Seafood Exporters and Producers (VASEP), China is affirming its position as the world’s largest importer of whitefish, creating significant opportunities for Vietnam’s pangasius export industry. Over the past 20 years, Vietnamese pangasius has become one of the most favored products in this billion-person market, opening up strong development prospects for Vietnam’s seafood and logistics sectors.

According to data from the International Trade Center (ITC), from 2004 to 2023, China consumed nearly USD 25 billion worth of whitefish. Vietnam has emerged as the second-largest supplier of whitefish to China, just behind Russia, with nearly USD 3 billion in exports, accounting for 11% of China’s total whitefish import value. Notably, the Chinese market only officially began importing whitefish from Vietnam in 2012, highlighting the rapid growth of the industry in a short period.

Vietnamese pangasius has also been one of the most favored products in China for the past 20 years

Frozen pangasius fillets (HS code 030462) have become the fourth most popular whitefish product in China. Since imports began in 2012, the total import value of this product in China has reached USD 2.2 billion, with a record high of USD 492 million in 2022, an increase of 134% from the previous year. This indicates the tremendous potential of the market and significant opportunities for Vietnam’s pangasius export industry.

However, the industry is also facing some challenges. In the first seven months of this year, China only imported USD 86 million worth of frozen pangasius fillets, a 41% decrease compared to the same period last year. This decline may be due to several factors, including the impact of the COVID-19 pandemic and competition from other suppliers.

To maintain and expand market share in China, Vietnam’s pangasius export industry needs to focus on several key strategies, such as product diversification, enhancing quality and food safety, optimizing logistics, building brand recognition, and conducting market research. Businesses must continuously update and analyze consumption trends in China to promptly adjust production and export strategies.

For the logistics sector, the growth of pangasius exports to China presents significant opportunities. Logistics companies need to focus on developing modern cold storage and cold transportation systems, optimizing cross-border transportation processes, applying technology in supply chain management, and building a network of partners in China.

In summary, the Chinese market continues to offer great opportunities for Vietnam’s pangasius export industry. With the right strategies and effective support from the logistics sector, Vietnamese pangasius can strengthen and expand its position in this billion-person market, contributing significantly to the development of Vietnam’s seafood industry and economy as a whole.