Asia: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Asia

In 2021, the Asian preserved fish fillet market increased by 0.4% to $X, rising for the third consecutive year after three years of decline. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 +9.5% against 2018 indices. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Preserved Fish Fillet Production in Asia

In value terms, preserved fish fillet production reduced slightly to $X in 2021 estimated in export price. The total production indicated a notable 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, production increased by +5.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 35% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Preserved Fish Fillet Exports

Exports in Asia

For the fourth consecutive year, Asia recorded decline in shipments abroad of fish fillets (dried, salted or in brine, but not smoked), which decreased by -27.3% to X tons in 2021. In general, exports saw a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 42%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved fish fillet exports shrank significantly to $X in 2021. Over the period under review, exports showed a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 6.1%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China prevails in exports structure, recording X tons, which was near 75% of total exports in 2021. It was distantly followed by Pakistan (X tons) and Oman (X tons), together achieving a 16% share of total exports. The following exporters - Malaysia (X tons) and Indonesia (X tons) - each accounted for a 6.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved fish fillet exports from China stood at -8.8%. At the same time, Malaysia (+63.0%), Oman (+34.8%), Indonesia (+15.2%) and Pakistan (+3.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +63.0% from 2012-2021. While the share of Oman (+6.5 p.p.), Pakistan (+5.4 p.p.), Malaysia (+3.2 p.p.) and Indonesia (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-17.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest preserved fish fillet supplier in Asia, comprising 85% of total exports. The second position in the ranking was held by Pakistan ($X), with a 2.8% share of total exports. It was followed by Oman, with a 2.3% share.

In China, preserved fish fillet exports shrank by an average annual rate of -8.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Pakistan (+5.0% per year) and Oman (+34.9% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 14% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. 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.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.5%), while the other leaders experienced more modest paces of growth.

Preserved Fish Fillet Imports

Imports in Asia

In 2021, overseas purchases of fish fillets (dried, salted or in brine, but not smoked) increased by 1.4% to X tons, rising for the fourth year in a row after five years of decline. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 24%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, preserved fish fillet imports amounted to $X in 2021. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2018 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Bangladesh (X tons) was the largest importer of fish fillets (dried, salted or in brine, but not smoked), constituting 40% of total imports. Indonesia (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (15%). The following importers - Taiwan (Chinese) (X tons), South Korea (X tons), Japan (X tons), Kazakhstan (X tons), Bhutan (X tons), Saudi Arabia (X tons), India (X tons), Turkey (X tons) and Malaysia (X tons) - together made up 20% of total imports.

Bangladesh was also the fastest-growing in terms of the fish fillets (dried, salted or in brine, but not smoked) imports, with a CAGR of +77.8% from 2012 to 2021. At the same time, Indonesia (+71.8%), Turkey (+65.1%), India (+39.4%), Malaysia (+17.6%), Saudi Arabia (+12.6%), Bhutan (+8.4%) and Kazakhstan (+7.2%) displayed positive paces of growth. Taiwan (Chinese) and Sri Lanka experienced a relatively flat trend pattern. By contrast, South Korea (-13.1%) and Japan (-21.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bangladesh, Indonesia, India and Turkey increased by +39, +16, +1.7 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X), Japan ($X) and Sri Lanka ($X) constituted the countries with the highest levels of imports in 2021, with a combined 39% share of total imports.

In terms of the main importing countries, Bangladesh, with a CAGR of +65.2%, recorded the highest rates of growth with regard to 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

The import price in Asia stood at $X per ton in 2021, remaining stable against the previous year. Overall, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 21%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bhutan (+8.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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