Asia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Asia

After three years of growth, the Asian preserved anchovies market decreased by -2.3% to $X in 2021. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.0% against 2015 indices. The level of consumption peaked at $X in 2020, and then declined modestly in the following year.

Preserved Anchovies Production in Asia

In value terms, preserved anchovies production shrank to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.1% against 2015 indices. The growth pace was the most rapid in 2018 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Preserved Anchovies Exports

Exports in Asia

Preserved anchovies exports skyrocketed to X tons in 2021, with an increase of 25% against the year before. Over the period under review, exports, however, recorded a noticeable contraction. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, preserved anchovies exports expanded notably to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 52%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) and Japan (X tons) represented the largest exporters of anchovies (prepared or preserved) in 2021, resulting at approx. 26% and 23% of total exports, respectively. It was distantly followed by Thailand (X tons), Vietnam (X tons), China (X tons) and Indonesia (X tons), together making up a 39% share of total exports. Malaysia (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +41.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and Turkey ($X) were the countries with the highest levels of exports in 2021, with a combined 70% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +41.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, declining by -10.2% against the previous year. Export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 an increase of 29%. The level of export peaked at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of anchovies (prepared or preserved), when their volume increased by 35% to X tons. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 48% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) represented the largest importer of anchovies (prepared or preserved), making up 45% of total imports. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a 10% share, followed by Thailand (9.2%) and Israel (7.6%). The Philippines (X tons), Singapore (X tons), the United Arab Emirates (X tons), South Korea (X tons), China (X tons), Cyprus (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, China (+35.3%), Thailand (+33.3%), the United Arab Emirates (+24.8%), Taiwan (Chinese) (+13.8%), the Philippines (+12.4%) and Cyprus (+3.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +35.3% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Israel (-2.3%), Singapore (-3.3%) and Malaysia (-21.3%) illustrated a downward trend over the same period. While the share of Thailand (+8.5 p.p.), Taiwan (Chinese) (+7.4 p.p.), the United Arab Emirates (+2.9 p.p.), the Philippines (+2.6 p.p.) and China (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-5.2 p.p.) and Malaysia (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported anchovies (prepared or preserved) in Asia, comprising 46% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Israel, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled -3.5%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+24.7% per year) and Israel (+2.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, reducing by -9.1% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. The level of import peaked at $X per ton in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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