ASEAN: Frozen Fish Market 2024

Frozen Fish Market Size in ASEAN

The ASEAN frozen fish market shrank slightly to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Frozen Fish Production in ASEAN

In value terms, frozen fish production totaled $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Frozen Fish Exports

Exports in ASEAN

Frozen fish exports rose rapidly to X tons in 2022, growing by X% compared with the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish exports soared to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value 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 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Vietnam was the largest exporting country with an export of about X tons, which accounted for X% of total exports. Indonesia (X tons) took the second position in the ranking, distantly followed by Myanmar (X tons) and Thailand (X tons). All these countries together took approx. X% share of total exports. Malaysia (X tons) and the Philippines (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish exports from Vietnam stood at X%. At the same time, Myanmar (X%), the Philippines (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. By contrast, Indonesia (X%) and Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Indonesia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. In the other countries, the average annual rates were as follows: 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 an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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 Indonesia ($X per ton), while Myanmar ($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 more modest paces of growth.

Frozen Fish Imports

Imports in ASEAN

In 2022, supplies from abroad of frozen fish increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, frozen fish imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand represented the key importer of frozen fish in ASEAN, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Vietnam (X tons), the Philippines (X tons), Malaysia (X tons) and Indonesia (X tons), together constituting a X% share of total imports. Singapore (X tons) held a little share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of frozen fish. 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. By contrast, Singapore (X%) and Vietnam (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Vietnam saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported frozen fish in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total imports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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