Vietnamese canned tuna gains market share in the US

Published 2024년 12월 12일

Tridge summary

Vietnam's canned tuna exports to the United States have seen a significant increase, with a 16% rise in October 2024 and a 17% increase in the first 10 months of 2024, reaching a value of over US$87 million. The United States is the largest market for Vietnamese canned tuna, accounting for 36% of total exports. Due to market expansion, Vietnamese exporters have surpassed Mexico to become the second-largest supplier after Thailand, with a market share of 12% and over 17% in the US market. This growth is attributed to price competitiveness and a robust US economy that is expected to further increase demand for aquatic product imports. However, potential changes in US tax policies could impact export patterns and profits.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the latest data from the Vietnam Association of Aquaculture (VASEP), after nearly half a year of declining exports, Vietnam's canned tuna exports to the United States rebounded significantly in October 2024, with exports approaching US$12 million that month, a year-on-year increase of 16%. In the first 10 months of 2024, the total value of Vietnam's canned tuna exports to the United States exceeded US$87 million, a year-on-year increase of 17%. The United States has been the largest import market for Vietnamese canned tuna for many years, accounting for 36% of the total exports of the product. The U.S. canned tuna market reached its import peak in 2022, but then imports fell sharply. In 2024, the total import volume of canned tuna in the United States was basically the same as the same period last year. In Asian canned food processing companies Against the backdrop of the industry expanding its market share in the United States, although Thailand is still the largest ...

Source: Foodmate