ASEAN: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in ASEAN

The ASEAN fish meals and pellet market soared to $X in 2021, rising by 30% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish in ASEAN

In value terms, fish meals and pellet production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 25%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in ASEAN

In 2021, exports of flours, meals and pellets of fish in ASEAN contracted to X tons, reducing by -12.4% compared with the previous year's figure. In general, exports recorded a mild setback. The most prominent rate of growth was recorded in 2017 when exports increased by 205%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, fish meals and pellet exports dropped to $X in 2021. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 237% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then shrank in the following year.

Exports by Country

Myanmar (X tons) and Indonesia (X tons) dominates exports structure, together constituting 81% of total exports. Vietnam (X tons) held the next position in the ranking, followed by Malaysia (X tons). All these countries together held near 15% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +39.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest fish meals and pellet supplier in ASEAN, comprising 72% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total exports. It was followed by Myanmar, with an 8.9% share.

In Indonesia, fish meals and pellet exports increased at an average annual rate of +10.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+27.4% per year) and Myanmar (+15.7% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 2.8% against the previous year. In general, the export price showed a strong expansion. The growth pace was the most rapid in 2020 an increase of 66% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+23.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in ASEAN

Fish meals and pellet imports reached X tons in 2021, surging by 2% compared with the previous year. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.5% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 50%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, fish meals and pellet imports expanded to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.4% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia dominates imports structure, finishing at X tons, which was approx. 72% of total imports in 2021. Brunei Darussalam (X tons) ranks second in terms of the total imports with an 8.9% share, followed by Myanmar (6.4%). Singapore (X tons), Vietnam (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of +21.7% from 2012 to 2021. At the same time, Brunei Darussalam (+25.4%), Vietnam (+12.3%), Myanmar (+10.4%), Lao People's Democratic Republic (+7.7%) and Indonesia (+5.7%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +25.4% from 2012-2021. By contrast, Singapore (-16.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia and Brunei Darussalam increased by +49 and +6.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported flours, meals and pellets of fish in ASEAN, comprising 51% of total imports. The second position in the ranking was held by Singapore ($X), with a 12% share of total imports. It was followed by Indonesia, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to +24.5%. In the other countries, the average annual rates were as follows: Singapore (-10.9% per year) and Indonesia (+10.0% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, leveling off at the previous year. Overall, the import price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2016 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform