In the first half of 2025, Vietnam’s squid and octopus exports to Thailand recorded a remarkable breakthrough, reaching USD 33 million, up 37% compared to the same period in 2024. Thailand is currently Vietnam’s 4th largest single importing market for this product group, accounting for 10% of the country’s total squid and octopus export value.
Steady growth across both quarters
Export performance in the first two quarters of this year showed continuous growth in both Q1 and Q2, with each quarter posting double-digit increases. This reflects stable and expanding demand from Thailand. Standout export items included live/fresh/frozen squid and processed octopus.
Squid remains the key export product, earning USD 32.5 million, equivalent to 98.4% of the total value, up 35.6%. Notably, dried and grilled squid (including ready-to-eat dried squid) reached USD 30.24 million, up nearly 30%, continuing to be favored in the Thai market thanks to its convenience and alignment with consumer tastes.
A remarkable highlight was live, fresh, and frozen squid, with export value reaching USD 2.276 million, a sharp 254% surge. This indicates a strong rise in demand for raw materials for processing and fresh consumption in Thailand, suggesting that Vietnam is gradually diversifying its product range to meet varied market needs.
Growth potential from octopus products
Although accounting for a small share of total export value, Vietnam’s octopus exports to Thailand still posted impressive growth, reaching USD 0.513 million, up 149.9%. Processed octopus surged by 250.9%, reflecting growing demand for ready-to-eat, value-added products.
Dried, salted, live, fresh, and frozen octopus also showed positive signs with growth of 43.4%. This provides a basis for Vietnamese seafood exporters to consider expanding their octopus product lines, particularly high-value processed products.
Advantages and challenges in the Thai market
Thailand is a large seafood-consuming market, especially for squid and octopus. With relatively few technical barriers, it is considered a favorable destination for Vietnamese seafood. Thai consumers share similar tastes with Vietnamese consumers, particularly favoring dried squid, live/fresh squid, and processed octopus—products in which Vietnam has strengths.
However, competition in Thailand is increasing as the country diversifies its supply sources, particularly from China, Argentina, and India—countries with lower product costs. This requires Vietnamese exporters to continually improve product quality while optimizing production and logistics costs to maintain their advantage.
Vietnamese exporters strengthen their presence
Contributing to this positive result is the participation of many major exporters. Leading the way is Viko Seafood Co., Ltd. with 32.5% market share, followed by S.R.V. INTERGROUP and Hoa Nam Co., Ltd. Their presence not only affirms Vietnam’s supply capability but also shows the potential to expand market share through stable distribution networks in Thailand.
Prospects for further market expansion
With positive growth momentum and stable demand from Thailand, Vietnam’s squid and octopus exports are expected to maintain strong growth in the coming months. The breakthroughs in processed products and fresh raw materials indicate that Thai consumer preferences are becoming increasingly diverse, opening opportunities for Vietnamese exporters to develop high-value product lines.
To fully capitalize on these opportunities, companies need to be proactive in product strategies, increase deep processing, and build flexible supply chains that meet quality and cost requirements. With its proximity and clear growth potential, the Thai market could well become one of the key destinations for Vietnam’s squid and octopus sector in the coming period.