Asia: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Asia

The Asian seafood meals and pellets market surged to $X in 2021, growing by 16% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Asia

In value terms, seafood meals and pellets production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 40%. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports in Asia

Seafood meals and pellets exports fell slightly to X tons in 2021, almost unchanged from the previous year's figure. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +29.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 37%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell slightly in the following year.

In value terms, seafood meals and pellets exports totaled $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +12.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.4% against 2017 indices. The pace of growth was the most pronounced in 2013 when exports increased by 71% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X tons) and Thailand (X tons) represented roughly 44% of total exports in 2021. India (X tons) ranks next in terms of the total exports with a 13% share, followed by South Korea (9%), Myanmar (8.7%), Pakistan (7.4%) and Oman (5.4%).

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +57.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 60% share of total exports. These countries were followed by Myanmar, South Korea, Pakistan and Oman, which together accounted for a further 27%.

Oman, with a CAGR of +65.2%, recorded the highest rates of growth with regard to the value of exports, among 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, with an increase of 4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2013 when the export price increased by 25%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+7.2%), while the other leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports in Asia

For the third consecutive year, Asia recorded growth in supplies from abroad of flours, meals and pellets of fish or of crustaceans and molluscs, which increased by 15% to X tons in 2021. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.5% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 34%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, seafood meals and pellets imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China dominates imports structure, reaching X tons, which was near 63% of total imports in 2021. Turkey (X tons) ranks second in terms of the total imports with a 9% share, followed by Japan (5.2%) and Taiwan (Chinese) (4.9%). The following importers - Vietnam (X tons), Indonesia (X tons) and Thailand (X tons) - together made up 10% of total imports.

Imports into China increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Thailand (+17.1%), Turkey (+16.7%) and Vietnam (+3.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +17.1% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-2.7%) and Japan (-5.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, China and Thailand increased by +5.9, +3.5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported flours, meals and pellets of fish or of crustaceans and molluscs in Asia, comprising 67% of total imports. The second position in the ranking was held by Turkey ($X), with an 8.8% share of total imports. It was followed by Japan, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +5.5%. In the other countries, the average annual rates were as follows: Turkey (+16.8% per year) and Japan (-5.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 9.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 19%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Indonesia ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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