According to the latest data from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's seafood exports reached $3.3 billion in the first four months of 2025, marking a 21 per cent increase on-year. Tilapia and shrimp led the growth in export value.

Though tilapia and red tilapia still account for a modest share of the overall export value, their performance was remarkable, showing a 138 per cent jump on-year, reaching $19 million in export value.

Tran Dinh Luan, director general of the Directorate of Fisheries, noted that Vietnam’s seafood development strategy has designated tilapia as a target species for aquaculture and exploitation, especially in reservoir areas.

However, with export turnover at just $41 million in 2024, there remains a long journey ahead before tilapia can match the scale of shrimp, basa, or tuna exports.

Luan stressed the need for early preparations, including joint ventures and partnerships to build a strong tilapia brand capable of competing internationally, drawing lessons from the successes and setbacks of past agricultural and seafood products.

Luan's remarks were delivered at the Fisheries Directorate’s review conference in early 2025, where he reiterated the strategic importance of tilapia in Vietnam's long-term seafood development roadmap.

Currently, tilapia farming spans about 30,000 hectares, producing approximately 300,000 tonnes annually. By 2030, the plan aims to expand the farming area to 40,000ha and increase production to 400,000 tonnes.

According to VASEP, Vietnam possesses comparative advantages for developing its tilapia export industry, including favourable natural conditions, extensive aquaculture experience, and investment in advanced technologies such as Recirculating Aquaculture Systems (RAS), which help increase productivity and reduce production costs.

As aquaculture areas continue to expand and improved farming models are implemented, VASEP believes that tilapia exports can accelerate rapidly, positioning the species as a core pillar of Vietnam's seafood exports, alongside shrimp and basa fish.

Globally, the tilapia market was valued at approximately $10.6 billion in 2024 and is projected to grow to $14.5 billion by 2033. The United States is the largest consumer of tilapia, importing nearly 180,000 tonnes in 2024.

China remains the world’s largest exporter of tilapia and the leading supplier to the US market. However, since 2018, a 25 per cent US tariff on Chinese tilapia has slowed its growth, though China still retains a strong position.

As trade tensions continue to escalate, Chinese tilapia exports to the US are likely to decline, opening the door for other competing nations.

Vietnam currently ranks fifth in Asia in terms of tilapia production, behind China, Indonesia, Bangladesh, and the Philippines.

Sharing the same view, Nguyen Hoai Nam, deputy secretary general of VASEP, highlighted the current challenges in tilapia development, particularly the heavy reliance on imported fingerlings, which results in Vietnamese tilapia costing about 30 per cent more than its competitors.

“Overcoming this issue requires significant investment in breeding research and establishing a closed value chain for tilapia. In parallel, challenges related to feed and processing facilities must also be addressed to enhance the competitiveness of Vietnam’s tilapia industry,” Nam stated.

Source: Vietnam Investment Review