Asia-Pacific: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Asia-Pacific

The Asia-Pacific market for cod, salted or in brine fell slightly to $X in 2022, which is down by -3.1% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Cod, Salted or in Brine in Asia-Pacific

In value terms, cod, salted or in brine production shrank slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 28% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Cod, Salted or in Brine

Exports in Asia-Pacific

After two years of decline, shipments abroad of cod, salted or in brine increased by 8% to X tons in 2022. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 50%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, cod, salted or in brine exports soared to $X in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 69% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 95% of total exports in 2022. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cod, salted or in brine exports from China stood at +8.9%. At the same time, Vietnam (+31.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +31.5% from 2012-2022. From 2012 to 2022, the share of Vietnam increased by +2.5 percentage points.

In value terms, China ($X) remains the largest cod, salted or in brine supplier in Asia-Pacific, comprising 95% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 3.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +8.0%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by 23% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.2%).

Imports of Cod, Salted or in Brine

Imports in Asia-Pacific

In 2022, cod, salted or in brine imports in Asia-Pacific dropped remarkably to X tons, which is down by -35.6% on 2021 figures. In general, imports, however, showed a moderate expansion. The pace of growth appeared the most rapid in 2021 with an increase of 1,013% against the previous year. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, cod, salted or in brine imports reduced remarkably to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 189% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China dominates imports structure, amounting to X tons, which was near 87% of total imports in 2022. It was distantly followed by Japan (X tons), generating a 6% share of total imports. The following importers - Macao SAR (X tons), Hong Kong SAR (X tons) and Vietnam (X tons) - each resulted at a 5% share of total imports.

Imports into China increased at an average annual rate of +8.3% from 2012 to 2022. At the same time, Vietnam (+68.5%), Japan (+64.9%) and Macao SAR (+11.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +68.5% from 2012-2022. By contrast, Hong Kong SAR (-2.4%) illustrated a downward trend over the same period. China (+26 p.p.), Japan (+6 p.p.) and Vietnam (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -1.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cod, salted or in brine in Asia-Pacific, comprising 58% of total imports. The second position in the ranking was held by Macao SAR ($X), with a 10% share of total imports. It was followed by Japan, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.2%. The remaining importing countries recorded the following average annual rates of imports growth: Macao SAR (+20.0% per year) and Japan (+32.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 9% against the previous year. In general, the import price, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2016 when the import price increased by 52% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+7.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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