ASEAN: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in ASEAN

After two years of growth, the ASEAN frozen cuttlefishes market decreased by -4.1% to $X in 2021. In general, consumption, however, recorded a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Production in ASEAN

In value terms, frozen cuttlefishes production shrank to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 12%. The level of production peaked at $X in 2020, and then shrank in the following year.

Frozen Cuttlefishes Exports

Exports in ASEAN

In 2021, overseas shipments of frozen cuttlefishes increased by 0.8% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2020 when exports increased by 8.4%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports reached $X in 2021. Over the period under review, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 23%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Vietnam (X tons) represented the key exporter of frozen cuttlefishes, committing 79% of total exports. It was distantly followed by the Philippines (X tons), achieving a 13% share of total exports. Malaysia (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Exports from Vietnam decreased at an average annual rate of -4.0% from 2012 to 2021. The Philippines (-3.7%), Malaysia (-29.0%) and Indonesia (-38.8%) illustrated a downward trend over the same period. Vietnam (+59 p.p.) and the Philippines (+9.8 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by -7.9% and -29.8% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest frozen cuttlefishes supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 12% share of total exports. It was followed by Indonesia, with a 2.8% share.

In Vietnam, frozen cuttlefishes exports declined by an average annual rate of -6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (-1.3% per year) and Indonesia (-28.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with an increase of 2.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2017 when the export price increased by 29%. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+17.5%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in ASEAN

In 2021, overseas purchases of frozen cuttlefishes increased by 3.1% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 20% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen cuttlefishes imports expanded remarkably to $X in 2021. Overall, imports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 19%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The Philippines was the main importing country with an import of around X tons, which accounted for 74% of total imports. Thailand (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.3%). Singapore (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of +10.3% from 2012 to 2021. Malaysia (-13.9%), Singapore (-14.1%) and Thailand (-21.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines increased by +65 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 96% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of +4.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 4.6% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 34%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the 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 Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform