Vietnamese heavyweight competitors in overseas pangasius markets

Published Aug 24, 2024

Tridge summary

The Vietnamese pangasius industry is fighting to maintain its market share against competitors like cod and pollock, as well as other catfish producers such as India, Bangladesh, and Indonesia. Despite facing trade barriers and unfair competition, the industry has seen a 6% increase in exports, reaching over $1 billion as of July 2024. The United States, China, the EU, and CPTPP countries are the main markets. To compete effectively, the industry is urged to improve product quality, build brands, and diversify markets. This includes finding new, high-end markets, developing value-added products, investing in technology, and focusing on sustainable development.

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

Original content

As a key export item of Vietnam's seafood industry, to maintain market share in some major markets, pangasius processing and exporting enterprises are managing to overcome "heavyweight" competitors. Identifying competitors? According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnamese pangasius has great potential to compete in the international market. However, to be successful, the pangasius industry needs to proactively "deepen" the market, improve product quality and build brands, diversify markets. According to data from Vietnam Customs, as of July 15, 2024, Vietnamese pangasius exports reached more than 1 billion USD, an increase of 6% year on year. The largest markets consuming Vietnamese pangasius include China, the US, the EU and countries belonging to the CPTPP. However, Vietnamese pangasius is facing strong competition from other types of whitefish. Among them, cod is considered the "king" of fish because of high brand value, good meat ...

Source: WTOCenter