ASEAN: Fish Parts Market 2024

Fish Parts Market Size in ASEAN

In 2022, the ASEAN fish parts market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, posted a tangible expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fish Parts Production in ASEAN

In value terms, fish parts production amounted to $X in 2022 estimated in export price. Overall, production, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 37%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Fish Parts Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in shipments abroad of fish heads, tails and maws, which increased by 23% to X tons in 2022. In general, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 36%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fish parts exports surged to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +113.5% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Vietnam (X tons) was the key exporter of fish heads, tails and maws, comprising 72% of total exports. It was distantly followed by Indonesia (X tons) and Singapore (X tons), together constituting a 21% share of total exports. Malaysia (X tons) and Thailand (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the fish heads, tails and maws exports, with a CAGR of +23.8% from 2012 to 2022. At the same time, Malaysia (+21.1%) and Indonesia (+10.2%) displayed positive paces of growth. By contrast, Thailand (-7.0%) and Singapore (-8.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Indonesia and Malaysia increased by +67, +9.5 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest fish parts supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total exports. It was followed by Singapore, with a 14% share.

In Vietnam, fish parts exports expanded at an average annual rate of +31.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+14.1% per year) and Singapore (-8.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, jumping by 19% against the previous year. Overall, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2013 an increase of 42%. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.3%), while the other leaders experienced more modest paces of growth.

Fish Parts Imports

Imports in ASEAN

In 2022, approx. X tons of fish heads, tails and maws were imported in ASEAN; falling by -15.2% against the previous year's figure. Overall, imports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 62% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, fish parts imports rose significantly to $X in 2022. Over the period under review, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 34% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam represented the key importer of fish heads, tails and maws in ASEAN, with the volume of imports recording X tons, which was near 52% of total imports in 2022. Singapore (X tons) held a 31% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (15%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of -0.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Singapore ($X) constitutes the largest market for imported fish heads, tails and maws in ASEAN, comprising 66% of total imports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to -4.4%. In the other countries, the average annual rates were as follows: Vietnam (-0.6% per year) and Thailand (+2.3% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by 24% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 26%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform