Asia: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Asia

The Asian preserved mackerel market fell slightly to $X in 2021, waning by -2.8% against the previous year. The market value increased at an average annual rate of +2.2% 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 attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Preserved Mackerel Production in Asia

In value terms, preserved mackerel production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 20% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Preserved Mackerel Exports

Exports in Asia

In 2021, shipments abroad of mackerel (prepared or preserved) decreased by -17.3% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 22% against the previous year. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, preserved mackerel exports reduced to $X in 2021. The total export value increased at an average annual rate of +2.5% over the period 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 2019 with an increase of 27% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) represented the largest exporter of mackerel (prepared or preserved), mixing up 70% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 13% share, followed by Vietnam (10%). Singapore (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Vietnam (+9.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +9.9% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Thailand (-6.1%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) and Vietnam (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-16.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest preserved mackerel supplier in Asia, comprising 60% of total exports. The second position in the ranking was taken by Thailand ($X), with a 16% share of total exports. It was followed by Vietnam, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +4.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-3.1% per year) and Vietnam (+11.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 9.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 10% against the previous year. 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 failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while China ($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 (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Preserved Mackerel Imports

Imports in Asia

Preserved mackerel imports fell remarkably to X tons in 2021, waning by -25.9% compared with the previous year's figure. Total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -43.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 93%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved mackerel imports reduced rapidly to $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 80% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) was the largest importer of mackerel (prepared or preserved), creating 39% of total imports. Thailand (X tons) took the second position in the ranking, followed by Sri Lanka (X tons), Yemen (X tons), Singapore (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together held near 50% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved mackerel imports into Japan stood at +8.8%. At the same time, Yemen (+24.9%), Indonesia (+6.5%) and Thailand (+2.9%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in Asia, with a CAGR of +24.9% from 2012-2021. By contrast, Singapore (-4.9%), Malaysia (-5.8%) and Sri Lanka (-7.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, Yemen, Thailand and Indonesia increased by +19, +7.4, +2.1 and +1.9 percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported mackerel (prepared or preserved) in Asia, comprising 60% of total imports. The second position in the ranking was taken by Thailand ($X), with an 8.1% share of total imports. It was followed by Yemen, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +5.5%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+4.1% per year) and Yemen (+21.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 14% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 15% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Malaysia ($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 (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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