Asia-Pacific: Market for Fish Fillets and Other Fish Meat 2025

Market Size for Fish Fillets and Other Fish Meat in Asia-Pacific

For the fifth consecutive year, the Asia-Pacific market for fish fillets and other fish meat recorded growth in sales value, which increased by 5% to $X in 2022. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +80.4% against 2013 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Fish Fillets and Other Fish Meat in Asia-Pacific

In value terms, production of fish fillets and other fish meat shrank to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 8%. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports in Asia-Pacific

In 2022, after two years of decline, there was significant growth in shipments abroad of fish fillets and other fish meat, when their volume increased by 6.9% to X tons. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 8.7% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of fish fillets and other fish meat rose remarkably to $X in 2022. In general, exports recorded a relatively flat trend pattern. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) and China (X tons) prevails in meat structure, together committing 77% of total exports. India (X tons) ranks next in terms of the total exports with a 6% share, followed by Indonesia (5.6%). The following exporters - New Zealand (X tons) and Thailand (X tons) - together made up 4.8% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +4.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fillets and other fish meat supplying countries in Asia-Pacific were China ($X), Vietnam ($X) and Indonesia ($X), together accounting for 79% of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +6.5%, 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 2022, with an increase of 7.3% against the previous year. In general, the export price continues to indicate modest growth. The most prominent rate of growth was recorded in 2021 when the export price increased by 9% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports in Asia-Pacific

After two years of decline, overseas purchases of fish fillets and other fish meat increased by 12% to X tons in 2022. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of fish fillets and other fish meat skyrocketed to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan was the main importer of fish fillets and other fish meat in Asia-Pacific, with the volume of imports amounting to X tons, which was near 37% of total imports in 2022. It was distantly followed by China (X tons), South Korea (X tons) and Thailand (X tons), together creating a 41% share of total imports. Malaysia (X tons), Taiwan (Chinese) (X tons), Australia (X tons), Hong Kong SAR (X tons), Singapore (X tons), Vietnam (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of fish fillets and other fish meat. At the same time, China (+22.8%), Thailand (+15.3%), Malaysia (+8.5%), South Korea (+2.9%) and Singapore (+2.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.8% from 2012-2022. Vietnam, Taiwan (Chinese), the Philippines and Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Australia (-1.2%) illustrated a downward trend over the same period. China (+15 p.p.), Thailand (+5.7 p.p.) and Malaysia (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, Taiwan (Chinese), Australia and Japan saw its share reduced by -1.5%, -1.5%, -2.3% and -14% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported fish fillets and other fish meat in Asia-Pacific, comprising 53% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by China, with an 11% share.

In Japan, imports of fish fillets and other fish meat expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+7.6% per year) and China (+23.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 4.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 10%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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 Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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