Asia: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Asia

After nine years of growth, the Asian battered fish fillet market decreased by -10.9% to $X in 2021. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Battered Fish Fillet Production in Asia

In value terms, battered fish fillet production fell to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 2017 with an increase of 11% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Battered Fish Fillet Exports

Exports in Asia

For the fifth year in a row, Asia recorded growth in shipments abroad of fish fillets in batter or breadcrumbs, which increased by 16% to X tons in 2021. Overall, exports posted a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 32%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, battered fish fillet exports surged to $X in 2021. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 26%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 90% of total exports in 2021. The following exporters - Vietnam (X tons) and Thailand (X tons) - each accounted for an 8.2% share of total exports.

China was also the fastest-growing in terms of the fish fillets in batter or breadcrumbs exports, with a CAGR of +13.4% from 2012 to 2021. At the same time, Vietnam (+6.1%) and Thailand (+4.1%) displayed positive paces of growth. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Thailand saw its share reduced by -2.5% and -3.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest battered fish fillet supplier in Asia, comprising 87% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +11.1%. In the other countries, the average annual rates were as follows: Vietnam (+3.2% per year) and Thailand (+6.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, leveling off at the previous year. Overall, the export price, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the export price increased by 9.2%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while China ($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 (+1.8%), while the other leaders experienced a decline in the export price figures.

Battered Fish Fillet Imports

Imports in Asia

In 2021, supplies from abroad of fish fillets in batter or breadcrumbs was finally on the rise to reach X tons after three years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 8.7%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, battered fish fillet imports rose slightly to $X in 2021. Over the period under review, imports, however, continue to indicate a mild downturn. The growth pace was the most rapid in 2018 when imports increased by 4.7% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan was the main importer of fish fillets in batter or breadcrumbs in Asia, with the volume of imports recording X tons, which was near 67% of total imports in 2021. It was distantly followed by South Korea (X tons), creating a 12% share of total imports. The following importers - Cambodia (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), Thailand (X tons) and Malaysia (X tons) - together made up 13% of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of fish fillets in batter or breadcrumbs. At the same time, Thailand (+29.0%), Cambodia (+12.4%), South Korea (+6.1%), Malaysia (+5.3%) and Taiwan (Chinese) (+5.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +29.0% from 2012-2021. By contrast, Hong Kong SAR (-2.5%) illustrated a downward trend over the same period. South Korea (+4.8 p.p.), Cambodia (+2.2 p.p.) and Thailand (+2 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported fish fillets in batter or breadcrumbs in Asia, comprising 69% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Hong Kong SAR, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled -2.3%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+4.5% per year) and Hong Kong SAR (-2.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, stabilizing at the previous year. In general, the import price, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the import price increased by 6.3%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($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 (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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