ASEAN: Market for Fish Fillets and Other Fish Meat 2025

Market Size for Fish Fillets and Other Fish Meat in ASEAN

In 2022, the ASEAN market for fish fillets and other fish meat increased by 2.6% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +52.1% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Fish Fillets and Other Fish Meat in ASEAN

In value terms, production of fish fillets and other fish meat dropped slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 7% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports in ASEAN

In 2022, shipments abroad of fish fillets and other fish meat was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 16% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fish fillets and other fish meat expanded to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 22%. Over the period under review, the exports of reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the main exporting country with an export of about X tons, which reached 81% of total exports. It was distantly followed by Indonesia (X tons), making up an 11% share of total exports. Thailand (X tons), the Philippines (X tons) and Malaysia (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fish fillets and other fish meat exports from Vietnam stood at +1.5%. At the same time, the Philippines (+4.5%), Indonesia (+3.0%) and Malaysia (+2.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +4.5% from 2012-2022. By contrast, Thailand (-5.7%) illustrated a downward trend over the same period. While the share of Vietnam (+2 p.p.) and Indonesia (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest fish fillets and other fish meat supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total exports. It was followed by Thailand, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+6.5% per year) and Thailand (-5.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price, however, saw a slight slump. The growth pace was the most rapid in 2015 an increase of 14% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Fish Fillets and Other Fish Meat

Imports in ASEAN

In 2022, purchases abroad of fish fillets and other fish meat increased by 6.3% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.3% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 17%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of fish fillets and other fish meat soared to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +9.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.0% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 28%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Thailand was the key importer of fish fillets and other fish meat in ASEAN, with the volume of imports resulting at X tons, which was approx. 45% of total imports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Singapore (X tons), Vietnam (X tons) and the Philippines (X tons). All these countries together took near 52% share of total imports. Indonesia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the fish fillets and other fish meat imports, with a CAGR of +15.3% from 2012 to 2022. At the same time, Malaysia (+8.5%), Indonesia (+8.4%) and Singapore (+2.1%) displayed positive paces of growth. Vietnam and the Philippines experienced a relatively flat trend pattern. Thailand (+23 p.p.) and Malaysia (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Vietnam and the Philippines saw its share reduced by -6.6%, -9.2% and -9.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported fish fillets and other fish meat in ASEAN, comprising 39% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Singapore, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +15.0%. In the other countries, the average annual rates were as follows: Malaysia (+7.0% per year) and Singapore (+6.1% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 when the import price increased by 13%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform