Asia: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Asia

The Asian inedible fish products market shrank slightly to $X in 2022, dropping by -2.5% against the previous year. In general, consumption, however, saw a tangible expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in Asia

In value terms, inedible fish products production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports in Asia

In 2022, the amount of inedible fish products exported in Asia dropped to X tons, shrinking by -7.7% on 2021 figures. Total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +15.7% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 51% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, inedible fish products exports amounted to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.6% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 34%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) and South Korea (X tons) represented roughly 51% of total exports in 2022. Singapore (X tons) held a 7% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (6.6%), China (5.5%), Indonesia (4.9%) and Cambodia (4.8%). Yemen (X tons), Thailand (X tons), Bangladesh (X tons), Japan (X tons), Uzbekistan (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cambodia (with a CAGR of +58.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 49% share of total exports. Uzbekistan, Indonesia, South Korea, Singapore, Taiwan (Chinese), Bangladesh, Japan, India, Yemen and Cambodia lagged somewhat behind, together accounting for a further 37%.

Among the main exporting countries, Uzbekistan, with a CAGR of +66.2%, saw the highest growth rate of the value of exports, 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 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 an increase of 28%. The level of export peaked at $X per ton in 2017; however, from 2018 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 China ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Inedible Fish Products Imports

Imports in Asia

In 2022, the amount of inedible fish products imported in Asia shrank dramatically to X tons, which is down by -38.1% on the previous year. In general, imports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2019 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, inedible fish products imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 29%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons), distantly followed by Thailand (X tons), China (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and South Korea (X tons) represented the largest importers of inedible fish products, together generating 88% of total imports. Sri Lanka (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +18.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest inedible fish products importing markets in Asia were Japan ($X), China ($X) and Thailand ($X), with a combined 43% share of total imports. Taiwan (Chinese), South Korea, Singapore and Sri Lanka lagged somewhat behind, together accounting for a further 16%.

In terms of the main importing countries, South Korea, with a CAGR of +7.3%, saw the highest growth rate of 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 2022, increasing by 75% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Sri Lanka ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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