Asia: Fish Parts Market 2024

Fish Parts Market Size in Asia

The Asian fish parts market rose modestly to $X in 2022, surging by 3.2% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.5% against 2018 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Fish Parts Production in Asia

In value terms, fish parts production rose to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 68% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Fish Parts Exports

Exports in Asia

In 2022, approx. X tons of fish heads, tails and maws were exported in Asia; increasing by 21% on 2021 figures. Overall, exports, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of 34%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, fish parts exports surged to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam represented the main exporter of fish heads, tails and maws in Asia, with the volume of exports recording X tons, which was near 50% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), China (X tons), Indonesia (X tons) and Singapore (X tons), together generating a 34% share of total exports. Taiwan (Chinese) (X tons) and Pakistan (X tons) took a minor share of total exports.

Exports from Vietnam increased at an average annual rate of +23.8% from 2012 to 2022. At the same time, Pakistan (+72.4%), Indonesia (+10.2%), China (+7.7%) and Taiwan (Chinese) (+3.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +72.4% from 2012-2022. By contrast, Hong Kong SAR (-7.0%) and Singapore (-8.4%) illustrated a downward trend over the same period. Vietnam (+46 p.p.), Indonesia (+6.4 p.p.), China (+6.3 p.p.), Pakistan (+2.6 p.p.) and Taiwan (Chinese) (+2 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and Singapore saw its share reduced by -2.7% and -3% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X), Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 69% share of total exports. Singapore, China, Taiwan (Chinese) and Pakistan lagged somewhat behind, together comprising a further 13%.

Pakistan, with a CAGR of +89.9%, recorded the highest growth rate of 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

In 2022, the export price in Asia amounted to $X per ton, growing by 28% against the previous year. Overall, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 an increase of 45% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.5%), while the other leaders experienced more modest paces of growth.

Fish Parts Imports

Imports in Asia

In 2022, fish parts imports in Asia stood at X tons, standing approx. at the previous year's figure. Overall, imports posted a slight expansion. The growth pace was the most rapid in 2018 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, fish parts imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 38% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) and Hong Kong SAR (X tons) were the key importers of fish heads, tails and maws in Asia, together recording near 61% of total imports. Vietnam (X tons) ranks next in terms of the total imports with a 14% share, followed by Singapore (8.1%), Macao SAR (5.7%) and South Korea (4.6%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +26.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported fish heads, tails and maws in Asia, comprising 60% of total imports. The second position in the ranking was held by Macao SAR ($X), with a 15% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR stood at +1.2%. The remaining importing countries recorded the following average annual rates of imports growth: Macao SAR (+24.9% per year) and China (+45.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2020 an increase of 42% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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