ASEAN: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in ASEAN

The ASEAN market for caviar (salmon) and caviar substitutes rose markedly to $X in 2021, increasing by 12% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Caviar (Salmon) And Caviar Substitutes in ASEAN

In value terms, caviar (salmon) and caviar substitutes production totaled $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 22%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in ASEAN

In 2021, overseas shipments of caviar (salmon) and caviar substitutes increased by 22% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 30%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes exports soared to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 75% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia was the major exporter of caviar (salmon) and caviar substitutes in ASEAN, with the volume of exports accounting for X tons, which was near 69% of total exports in 2021. Thailand (X tons) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (9%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes exports from Indonesia stood at -9.5%. At the same time, Vietnam (+30.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.8% from 2012-2021. By contrast, Singapore (-10.7%) and Thailand (-21.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia and Vietnam increased by +21 and +8.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest caviar (salmon) and caviar substitutes supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was held by Thailand ($X), with a 9.5% share of total exports. It was followed by Vietnam, with a 7.5% share.

In Indonesia, caviar (salmon) and caviar substitutes exports declined by an average annual rate of -7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-14.3% per year) and Vietnam (+36.8% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, jumping by 19% against the previous year. In general, the export price posted a prominent increase. The growth pace was the most rapid in 2017 an increase of 71%. Over the period under review, the export prices reached the peak figure 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, the country with the highest price was Indonesia ($X per ton), while Thailand ($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 (+9.7%), while the other leaders experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in ASEAN

In 2021, imports of caviar (salmon) and caviar substitutes in ASEAN surged to X tons, picking up by 29% on 2020 figures. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 93%. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, caviar (salmon) and caviar substitutes imports skyrocketed to $X in 2021. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 108%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Thailand (X tons) was the key importer of caviar (salmon) and caviar substitutes, making up 48% of total imports. Singapore (X tons) ranks second in terms of the total imports with a 24% share, followed by Malaysia (15%) and Vietnam (7.9%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes imports into Thailand stood at +27.0%. At the same time, Singapore (+31.6%), Indonesia (+23.4%), Vietnam (+15.5%) and Malaysia (+7.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +31.6% from 2012-2021. Thailand (+17 p.p.) and Singapore (+13 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Malaysia saw its share reduced by -4.1% and -28% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest caviar (salmon) and caviar substitutes importing markets in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined 91% share of total imports. These countries were followed by Vietnam and Indonesia, which together accounted for a further 8%.

Indonesia, with a CAGR of +60.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 21% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the import price increased by 55%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+30.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform