ASEAN: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in ASEAN

In 2021, the ASEAN dried or salted fish market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Dried Or Salted Fish in ASEAN

In value terms, dried or salted fish production amounted to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Dried Or Salted Fish

Exports in ASEAN

Dried or salted fish exports contracted markedly to X tons in 2021, which is down by -29.7% on 2020. In general, exports continue to indicate a perceptible setback. The growth pace was the most rapid in 2020 with an increase of 61%. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, dried or salted fish exports fell remarkably to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 32% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

In 2021, Vietnam (X tons) represented the key exporter of dried or salted fish, generating 60% of total exports. Thailand (X tons) held the second position in the ranking, distantly followed by Myanmar (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together took approx. 39% share of total exports.

Vietnam was also the fastest-growing in terms of the dried or salted fish exports, with a CAGR of +16.4% from 2012 to 2021. At the same time, Myanmar (+14.5%) displayed positive paces of growth. By contrast, Malaysia (-3.3%), Thailand (-13.9%) and Indonesia (-14.2%) illustrated a downward trend over the same period. Vietnam (+48 p.p.) and Myanmar (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -9.7% and -43.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest dried or salted fish supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total exports. It was followed by Myanmar, with a 6.6% share.

In Vietnam, dried or salted fish exports increased at an average annual rate of +13.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-10.9% per year) and Myanmar (+15.2% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, increasing by 6% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish export price decreased by -13.2% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 21%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

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 (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in ASEAN

In 2021, supplies from abroad of dried or salted fish increased by 29% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, dried or salted fish imports rose markedly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 14% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia was the main importing country with an import of about X tons, which accounted for 71% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 10% share, followed by Thailand (9.9%) and Singapore (6.5%).

Malaysia was also the fastest-growing in terms of the dried or salted fish imports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Singapore (+10.5%) and Indonesia (+1.4%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. Malaysia (+36 p.p.) and Singapore (+3 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Thailand saw its share reduced by -1.7% and -3.6% from 2012 to 2021, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported dried or salted fish in ASEAN, comprising 65% of total imports. The second position in the ranking was held by Singapore ($X), with a 16% share of total imports. It was followed by Indonesia, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled +4.1%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+3.6% per year) and Indonesia (-0.4% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, dropping by -12.2% against the previous year. Over the period under review, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform