ASEAN: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in ASEAN

The ASEAN frozen fish and seafood market expanded sharply to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Production of Frozen Fish And Seafood in ASEAN

In value terms, frozen fish and seafood production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports in ASEAN

In 2022, approx. X tons of frozen fish and seafood were exported in ASEAN; increasing by X% against the previous year. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam was the major exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Indonesia (X tons) and Thailand (X tons), together making up a X% share of total exports. The following exporters - Myanmar (X tons) and Malaysia (X tons) - together made up X% of total exports.

Exports from Vietnam increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Myanmar increased by X and X percentage points, respectively.

In value terms, Vietnam ($X) remains the largest frozen fish and seafood supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a perceptible slump. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Fish And Seafood

Imports in ASEAN

In 2022, supplies from abroad of frozen fish and seafood increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons) was the main importer of frozen fish and seafood, making up X% of total imports. Vietnam (X tons) took the second position in the ranking, followed by Malaysia (X tons), the Philippines (X tons) and Indonesia (X tons). All these countries together held near X% share of total imports. Singapore (X tons) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of frozen fish and seafood. At the same time, Malaysia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Thailand (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish and seafood importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total imports. The Philippines, Singapore and Indonesia lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform