Asia: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Asia

After three years of decline, the Asian dried or salted fish market increased by 3.4% to $X in 2021. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Dried Or Salted Fish in Asia

In value terms, dried or salted fish production rose sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Dried Or Salted Fish

Exports in Asia

In 2021, approx. X tons of dried or salted fish were exported in Asia; waning by -22.6% against 2020. Overall, exports showed a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, dried or salted fish exports contracted rapidly to $X in 2021. In general, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 12%. The level of export peaked at $X in 2020, and then dropped sharply in the following year.

Exports by Country

Vietnam represented the key exporter of dried or salted fish in Asia, with the volume of exports reaching X tons, which was approx. 38% of total exports in 2021. China (X tons) held the second position in the ranking, followed by Thailand (X tons) and India (X tons). All these countries together held approx. 46% share of total exports. Myanmar (X tons), Indonesia (X tons) and Malaysia (X tons) held a little share of total exports.

Vietnam was also the fastest-growing in terms of the dried or salted fish exports, with a CAGR of +16.4% from 2012 to 2021. At the same time, Myanmar (+14.5%) and India (+7.0%) displayed positive paces of growth. By contrast, China (-2.3%), Malaysia (-3.3%), Thailand (-13.9%) and Indonesia (-14.2%) illustrated a downward trend over the same period. While the share of Vietnam (+31 p.p.), India (+6.9 p.p.) and Myanmar (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-6.3 p.p.) and Thailand (-28.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, with a combined 76% share of total exports. These countries were followed by India, Myanmar, Indonesia and Malaysia, which together accounted for a further 15%.

Myanmar, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2019 an increase of 12%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while India ($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 (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in Asia

Dried or salted fish imports fell sharply to X tons in 2021, with a decrease of -18.4% against 2020. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 27%. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, dried or salted fish imports contracted notably to $X in 2021. In general, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when imports increased by 15%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons) and Malaysia (X tons) were the major importers of dried or salted fish in 2021, reaching near 32% and 26% of total imports, respectively. It was distantly followed by South Korea (X tons) and Bangladesh (X tons), together comprising an 18% share of total imports. Sri Lanka (X tons), Indonesia (X tons), Thailand (X tons) and Singapore (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bangladesh (with a CAGR of +38.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dried or salted fish importing markets in Asia were South Korea ($X), China ($X) and Malaysia ($X), together comprising 67% of total imports. These countries were followed by Sri Lanka, Bangladesh, Singapore, Indonesia and Thailand, which together accounted for a further 17%.

In terms of the main importing countries, Bangladesh, with a CAGR of +36.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2015 an increase of 13% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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