Asia-Pacific: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Asia-Pacific

After three years of growth, the Asia-Pacific preserved anchovies market decreased by -2.7% to $X in 2021. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.8% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced modestly in the following year.

Preserved Anchovies Production in Asia-Pacific

In value terms, preserved anchovies production fell modestly to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 increased by +73.0% against 2015 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Over the period under review, production reached the maximum level at $X in 2020, and then declined in the following year.

Preserved Anchovies Exports

Exports in Asia-Pacific

In 2021, preserved anchovies exports in Asia-Pacific fell to X tons, declining by -5.3% on 2020. In general, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2017 with an increase of 29%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved anchovies exports dropped modestly to $X in 2021. Overall, exports saw a mild downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 65%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Japan (X tons), distantly followed by Thailand (X tons), Vietnam (X tons), China (X tons), Indonesia (X tons) and Malaysia (X tons) represented the main exporters of anchovies (prepared or preserved), together committing 88% of total exports. South Korea (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +41.9%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 74% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +41.4%, recorded the highest rates of growth with regard to 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-Pacific stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies export price increased by +102.5% against 2015 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 28%. Over the period under review, the export prices attained the maximum in 2021 and is likely to see gradual growth in years to come.

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 South Korea ($X per ton), while Indonesia ($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 (+6.2%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in Asia-Pacific

In 2021, purchases abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a perceptible decline. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, preserved anchovies imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 41%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan (X tons) and Australia (X tons) represented roughly 67% of total imports in 2021. Taiwan (Chinese) (X tons) ranks next in terms of the total imports with an 8.3% share, followed by Thailand (7.3%). The following importers - the Philippines (X tons), Singapore (X tons) and New Zealand (X tons) - each resulted at an 8.6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Australia ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2021, with a combined 79% share of total imports.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +24.7%, recorded 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, dropping by -8.4% against the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.9% 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 2018 when the import price increased by 35% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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