Asia: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Asia

In 2021, after two years of growth, there was decline in the Asian fresh fish fillet market, when its value decreased by -3% to $X. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then dropped slightly in the following year.

Fresh Fish Fillet Production in Asia

In value terms, fresh fish fillet production contracted slightly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Fresh Fish Fillet Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in shipments abroad of fresh or chilled fish fillets, when their volume increased by 41% to X tons. Overall, exports, however, saw a perceptible decrease. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, fresh fish fillet exports surged to $X in 2021. In general, exports, however, continue to indicate a perceptible decrease. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) and Vietnam (X tons) represented roughly 51% of total exports in 2021. China (X tons) held the next position in the ranking, followed by Myanmar (X tons) and Sri Lanka (X tons). All these countries together held near 29% share of total exports. The following exporters - Malaysia (X tons), Indonesia (X tons), Japan (X tons) and India (X tons) - together made up 14% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of +44.7%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest fresh fish fillet supplier in Asia, comprising 38% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 14% share of total exports. It was followed by Japan, with a 14% share.

In Turkey, fresh fish fillet exports expanded at an average annual rate of +12.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (-8.5% per year) and Japan (+6.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, falling by -2.4% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet export price increased by +61.3% against 2016 indices. The growth pace was the most rapid in 2018 when the export price increased by 30% against the previous year. The level of export peaked at $X per ton in 2020, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.7%), while the other leaders experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports in Asia

In 2021, approx. X tons of fresh or chilled fish fillets were imported in Asia; jumping by 22% against the year before. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 30%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

Japan was the main importing country with an import of around X tons, which recorded 37% of total imports. Israel (X tons) ranks second in terms of the total imports with a 19% share, followed by South Korea (11%), Thailand (5.8%), Singapore (5.7%), Hong Kong SAR (5.2%) and Pakistan (4.8%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of +75.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported fresh or chilled fish fillets in Asia, comprising 47% of total imports. The second position in the ranking was held by Israel ($X), with a 22% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled +12.3%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+88.6% per year) and South Korea (+25.2% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 4.1% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet import price increased by +83.2% against 2012 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 17%. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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