ASEAN: Preserved Salmon Market 2024

Preserved Salmon Market Size in ASEAN

In 2021, the ASEAN preserved salmon market was finally on the rise to reach $X after two years of decline. In general, consumption recorded a perceptible decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Preserved Salmon Production in ASEAN

In value terms, preserved salmon production expanded rapidly to $X in 2021 estimated in export price. In general, production saw a mild setback. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports in ASEAN

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -1.4% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 37%. The volume of export peaked at X tons in 2020, and then shrank modestly in the following year.

In value terms, preserved salmon exports contracted to $X in 2021. Total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.2% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 54%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Thailand was the largest exporting country with an export of about X tons, which resulted at 74% of total exports. It was distantly followed by Vietnam (X tons), mixing up a 25% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon exports from Thailand stood at +1.6%. At the same time, Vietnam (+13.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +13.3% from 2012-2021. From 2012 to 2021, the share of Vietnam increased by +14 percentage points.

In value terms, Thailand ($X) remains the largest preserved salmon supplier in ASEAN, comprising 68% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 29% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand was relatively modest.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, declining by -3.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 21%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.3%).

Preserved Salmon Imports

Imports in ASEAN

In 2021, imports of salmon (prepared or preserved) in ASEAN dropped significantly to X tons, declining by -45.1% on the previous year's figure. Over the period under review, imports showed a noticeable downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 38% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved salmon imports contracted sharply to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons) represented the major importer of salmon (prepared or preserved), achieving 56% of total imports. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Thailand (X tons), together committing a 39% share of total imports. Indonesia (X tons) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of salmon (prepared or preserved). At the same time, Thailand (+1.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +1.2% from 2012-2021. By contrast, the Philippines (-4.7%), Malaysia (-6.7%) and Indonesia (-7.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore and Thailand increased by +19 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported salmon (prepared or preserved) in ASEAN, comprising 68% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled +9.4%. In the other countries, the average annual rates were as follows: Malaysia (-5.4% per year) and Thailand (+2.2% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 50% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform