In the first four months of 2025, squid and octopus exports from Vietnam reached over $215 million, an 18% increase compared to the same period in 2024. Squid exports saw a more significant increase than octopus exports.
While exports to Japan, Thailand, and the United States have shown strong growth, and exports to South Korea and the EU have slightly increased, exports to China & Hong Kong have declined. Thailand has now surpassed China & Hong Kong to become the third-largest importer of Vietnamese squid and octopus.
However, Vietnamese exporters are currently facing challenges, including limited raw material supplies and rising production costs. Furthermore, reduced consumer demand, the ongoing Russia-Ukraine war, and the Hamas-Israel conflict are all impacting the market. Increased sea freight costs are also affecting profits.
The global squid and octopus market in 2025 is being influenced by several factors, including climate change, increased demand, and a growing focus on sustainability. The El Niño phenomenon has disrupted squid reproduction, leading to supply shortages. Overfishing and illegal, unreported, and unregulated (IUU) fishing also present challenges, requiring stricter management.
Despite these difficulties, squid and octopus exports from Vietnam are expected to continue their growth in the second half of 2025. This is due to stable demand and rising prices. However, stricter regulations on origin traceability and sustainability in markets such as the EU and the US are expected to impact exports to these regions.
