ASEAN: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in ASEAN

In 2021, the ASEAN preserved anchovies market decreased by -6.4% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption, however, showed a pronounced expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Preserved Anchovies Production in ASEAN

In value terms, preserved anchovies production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 64% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Preserved Anchovies Exports

Exports in ASEAN

In 2021, shipments abroad of anchovies (prepared or preserved) decreased by -0.2% to X tons, falling for the fifth year in a row after five years of growth. Overall, exports, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2013 when exports increased by 76% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, preserved anchovies exports skyrocketed to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +12.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -2.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 110% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) and Vietnam (X tons) represented the key exporters of anchovies (prepared or preserved) in 2021, recording near 37% and 32% of total exports, respectively. Indonesia (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (12%) and the Philippines (5.3%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +41.9%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest preserved anchovies supplier in ASEAN, comprising 57% of total exports. The second position in the ranking was held by Thailand ($X), with a 27% share of total exports. It was followed by Malaysia, with a 7.3% share.

In Vietnam, preserved anchovies exports expanded at an average annual rate of +41.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.0% per year) and Malaysia (+3.2% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, growing by 25% against the previous year. In general, the export price recorded resilient growth. The pace of growth appeared the most rapid in 2019 an increase of 28% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in purchases abroad of anchovies (prepared or preserved), when their volume increased by 77% to X tons. Overall, imports, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2016 when imports increased by 121%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.4% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 68%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Thailand represented the main importing country with an import of about X tons, which resulted at 47% of total imports. The Philippines (X tons) took the second position in the ranking, followed by Singapore (X tons) and Malaysia (X tons). All these countries together held near 47% share of total imports. Brunei Darussalam (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the anchovies (prepared or preserved) imports, with a CAGR of +33.3% from 2012 to 2021. At the same time, the Philippines (+12.4%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Brunei Darussalam (-1.4%), Singapore (-3.3%) and Malaysia (-21.3%) illustrated a downward trend over the same period. While the share of Thailand (+44 p.p.) and the Philippines (+14 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-4 p.p.) and Malaysia (-53.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 87% of total imports.

In terms of the main importing countries, Thailand, with a CAGR of +23.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, falling by -22.9% against the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the import price increased by 29% against the previous year. The level of import peaked at $X per ton in 2020, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform