ASEAN: Preserved Tuna Market 2024

Preserved Tuna Market Size in ASEAN

The ASEAN preserved tuna market soared to $X in 2021, jumping by 20% against the previous year. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Preserved Tuna Production in ASEAN

In value terms, preserved tuna production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 14%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Preserved Tuna Exports

Exports in ASEAN

Preserved tuna exports dropped sharply to X tons in 2021, which is down by -17.3% against 2020. Overall, exports saw a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved tuna exports declined sharply to $X in 2021. Over the period under review, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 14%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) was the key exporter of tuna (prepared or preserved), mixing up 70% of total exports. The Philippines (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (9.7%) and Vietnam (8.3%).

From 2012 to 2021, average annual rates of growth with regard to preserved tuna exports from Thailand stood at -1.9%. At the same time, Vietnam (+2.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +2.5% from 2012-2021. By contrast, Indonesia (-1.1%) and the Philippines (-1.4%) illustrated a downward trend over the same period. Vietnam (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -2.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest preserved tuna supplier in ASEAN, comprising 68% of total exports. The second position in the ranking was held by the Philippines ($X), with a 12% share of total exports. It was followed by Vietnam, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Thailand amounted to -3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (+1.4% per year) and Vietnam (+3.0% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, growing by 1.6% against the previous year. In general, the export price, however, showed a slight reduction. The pace of growth was the most pronounced in 2018 an increase of 17%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Preserved Tuna Imports

Imports in ASEAN

In 2021, overseas purchases of tuna (prepared or preserved) decreased by -12.1% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 48% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, preserved tuna imports declined remarkably to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.9% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 48%. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted sharply in the following year.

Imports by Country

Thailand prevails in imports structure, reaching X tons, which was approx. 73% of total imports in 2021. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Vietnam (X tons), together constituting a 22% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to preserved tuna imports into Thailand stood at +5.1%. At the same time, the Philippines (+65.1%), Vietnam (+33.5%) and Malaysia (+1.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +65.1% from 2012-2021. By contrast, Singapore (-1.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines and Vietnam increased by +7.8 and +5 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported tuna (prepared or preserved) in ASEAN, comprising 65% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports. It was followed by the Philippines, with a 7.8% share.

In Thailand, preserved tuna imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+3.2% per year) and the Philippines (+63.9% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, falling by -7.2% against the previous year. Over the period under review, the import price showed a pronounced contraction. The pace of growth appeared the most rapid in 2017 when the import price increased by 16% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform