ASEAN: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in ASEAN

In 2021, the ASEAN dried or smoked fish market increased by 5.1% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Production of Dried Or Smoked Fish in ASEAN

In value terms, dried or smoked fish production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell slightly in the following year.

Exports of Dried Or Smoked Fish

Exports in ASEAN

Dried or smoked fish exports declined dramatically to X tons in 2021, which is down by -21% on the year before. Over the period under review, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 28%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, dried or smoked fish exports shrank to $X in 2021. Total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.5% against 2015 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 18% against the previous year. The level of export peaked at $X in 2020, and then dropped in the following year.

Exports by Country

In 2021, Vietnam (X tons) and Thailand (X tons) represented the main exporters of dried or smoked fish in ASEAN, together constituting 72% of total exports. It was distantly followed by Indonesia (X tons), mixing up a 17% share of total exports. The following exporters - Malaysia (X tons), Myanmar (X tons) and the Philippines (X tons) - together made up 10% of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +11.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest dried or smoked fish supplier in ASEAN, comprising 51% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam totaled +17.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-1.7% per year) and Thailand (-7.8% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, the export price posted a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Myanmar ($X per ton), while Thailand ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports in ASEAN

Dried or smoked fish imports surged to X tons in 2021, rising by 39% against the year before. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +9.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 50%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, dried or smoked fish imports surged to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia was the largest importer of dried or smoked fish in ASEAN, with the volume of imports amounting to X tons, which was approx. 70% of total imports in 2021. Singapore (X tons) ranks second in terms of the total imports with an 11% share, followed by Thailand (10%) and Vietnam (5.8%). Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to dried or smoked fish imports into Malaysia stood at +17.2%. At the same time, Vietnam (+27.6%), Brunei Darussalam (+21.1%) and Thailand (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +27.6% from 2012-2021. By contrast, Singapore (-4.4%) illustrated a downward trend over the same period. Malaysia (+31 p.p.) and Vietnam (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Singapore saw its share reduced by -6.2% and -28% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together comprising 88% of total imports. These countries were followed by Thailand and Brunei Darussalam, which together accounted for a further 10%.

In terms of the main importing countries, Brunei Darussalam, 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

The import price in ASEAN stood at $X per ton in 2021, waning by -5.5% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the import price increased by 18%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform