Asia: Preserved Herring Market 2024

Preserved Herring Market Size in Asia

The Asian preserved herring market rose modestly to $X in 2021, surging by 2.5% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Herring Production in Asia

In value terms, preserved herring production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 21%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports in Asia

In 2021, approx. X tons of herrings (prepared or preserved) were exported in Asia; falling by -24% on the year before. Over the period under review, exports recorded a abrupt setback. The growth pace was the most rapid in 2016 with an increase of 81%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved herring exports shrank to $X in 2021. Overall, exports recorded a noticeable descent. The growth pace was the most rapid in 2016 with an increase of 39%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) represented the major exporter of herrings (prepared or preserved), creating 61% of total exports. It was distantly followed by Vietnam (X tons), Thailand (X tons) and Japan (X tons), together committing a 32% share of total exports. Turkey (X tons) held a little share of total exports.

Exports from China decreased at an average annual rate of -1.3% from 2012 to 2021. At the same time, Turkey (+116.8%), Thailand (+4.3%) and Japan (+3.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +116.8% from 2012-2021. By contrast, Vietnam (-15.9%) illustrated a downward trend over the same period. China (+20 p.p.), Thailand (+5.3 p.p.), Japan (+3.3 p.p.) and Turkey (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -31.3% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest preserved herring supplier in Asia, comprising 53% of total exports. The second position in the ranking was taken by Japan ($X), with a 21% share of total exports. It was followed by Vietnam, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -2.6%. In the other countries, the average annual rates were as follows: Japan (+2.6% per year) and Vietnam (-16.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.3%), while the other leaders experienced mixed trends in the export price figures.

Preserved Herring Imports

Imports in Asia

In 2021, supplies from abroad of herrings (prepared or preserved) decreased by -5% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports amounted to $X in 2021. Overall, imports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2020 with an increase of 14% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of preserved herring imports in 2021 were Japan (X tons), Kazakhstan (X tons) and Israel (X tons), together accounting for 65% of total import. Uzbekistan (X tons) took a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Azerbaijan (5.2%). Vietnam (X tons), Armenia (X tons), Kyrgyzstan (X tons), Turkmenistan (X tons) and Georgia (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +28.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported herrings (prepared or preserved) in Asia, comprising 39% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 16% share of total imports. It was followed by Israel, with a 14% share.

In Japan, preserved herring imports declined by an average annual rate of -7.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+8.0% per year) and Israel (+25.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+23.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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