Vietnam’s Underwater Treasure “Captivates” the U.S. and Brazil: Nearly 100 Million USD in Revenue, One Export Company Sees Profits Increase 21-Fold
In 2025, Vietnam’s total tilapia export turnover reached an impressive figure of over USD 99 million. This result reflects a positive shift in the structure of seafood exports, with greater emphasis placed on value-added products. Among them, fillets and other processed fish meat products played a key role, accounting for 61% of total export value, equivalent to USD 61 million.
The brightest highlight of last year’s export landscape was the U.S. market. With export value reaching USD 40 million, Vietnam’s tilapia exports to the United States recorded a remarkable growth rate of 499% compared to 2024. This surge was driven not only by product quality but also by external international market factors. As supply from traditional competitors such as China and even domestic U.S. producers faced difficulties due to rising production costs and tariff barriers, Vietnamese tilapia fully leveraged its advantages in pricing and tariff rates to gain market share.
Brazil was equally impressive, emerging as the fastest-growing market among importers of Vietnamese tilapia fillets. In 2025, export turnover to the South American country reached USD 11 million, soaring by 7,552% compared to the previous year. The successful penetration of niche markets like Brazil has proven the effectiveness of diversifying export destinations, helping reduce excessive dependence on a few traditional markets.
However, 2025 also presented contrasting trends. While Taiwan recorded a 123% increase and new markets such as Italy (up 54%), Saudi Arabia, and Puerto Rico showed expansion momentum, exports to Russia and Mexico declined significantly (down 29% and 38%, respectively). These decreases reflect the impact of global economic volatility and rising logistics costs, prompting importers in these markets to adopt a more cautious approach.
The outstanding growth of the tilapia sector would not have been possible without leading enterprises. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Top 5 tilapia exporters in 2025 include: An Do Duong Co., Ltd.; V Investment and Finance One Member Co., Ltd.; Nam Viet Corporation (Navico); Kim Phat Seafood Import-Export Co., Ltd.; and NVD Seafood Co., Ltd.
Notably, Nam Viet Corporation (Navico) and its subsidiary stand out on the list. An Do Duong Co., Ltd., the leading exporter, is a wholly owned subsidiary of Navico with charter capital of VND 36 billion. Established in 2006 in Can Tho, the company specializes in seafood processing and preservation, as well as the production of by-products such as fish oil and fish meal.
Navico, founded in 1993, has transformed from a construction company into the world’s second-largest pangasius exporter. In 2025, although its revenue reached only VND 6,952 billion (half that of competitor Vinh Hoan), Navico recorded an extraordinary 21-fold increase in after-tax profit year-on-year, reaching nearly VND 1,000 billion. This record performance was largely driven by its tilapia segment.
The success of companies like Navico stems from their ability to identify opportunities in niche markets. By leveraging preferential tariff advantages in the U.S. and rapidly entering the Brazilian market, these enterprises significantly improved their gross profit margins. Rather than focusing solely on traditional products, expanding into frozen tilapia fillets helped optimize the capacity of seven subsidiaries across the value chain, from farming to processing and export.
Entering 2026, tilapia is expected to maintain strong growth momentum and become a new pillar in Vietnam’s seafood exports. However, competitive pressure is gradually emerging, particularly from Brazil in the European Union (EU) market. Brazil is intensifying its EU market penetration strategy, supported by large-scale farming capacity and its ability to meet strict traceability standards.
Source: Cafef
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Ngày đăng : 23/02/2026
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