Asia-Pacific: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Asia-Pacific

In 2021, after four years of growth, there was significant decline in the Asia-Pacific frozen whole fish market, when its value decreased by -5.5% to $X. The market value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Frozen Whole Fish Production in Asia-Pacific

In value terms, frozen whole fish production fell modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34% against the previous year. The level of production peaked at $X in 2020, and then reduced modestly in the following year.

Frozen Whole Fish Exports

Exports in Asia-Pacific

In 2021, overseas shipments of frozen whole fish decreased by -6.1% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2016 with an increase of 12% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen whole fish exports stood at $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons) represented the major exporter of frozen whole fish in Asia-Pacific, generating 57% of total export. Indonesia (X tons) took the next position in the ranking, followed by India (X tons), Vietnam (X tons), Papua New Guinea (X tons) and Myanmar (X tons). All these countries together took near 28% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +95.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest frozen whole fish supplier in Asia-Pacific, comprising 31% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by South Korea, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-2.2% per year) and South Korea (-3.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, rising by 6.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while Japan ($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 (+5.2%), while the other leaders experienced more modest paces of growth.

Frozen Whole Fish Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of frozen whole fish decreased by -8.6% to X tons, falling for the fourth year in a row after two years of growth. In general, imports continue to indicate a mild descent. The pace of growth was the most pronounced in 2017 when imports increased by 5.8% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen whole fish imports totaled $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 12%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons) and Thailand (X tons) represented the major importers of frozen whole fish in 2021, resulting at approx. 30% and 23% of total imports, respectively. South Korea (X tons) took the next position in the ranking, followed by Japan (X tons) and Vietnam (X tons). All these countries together held near 32% share of total imports. The Philippines (X tons), Malaysia (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +2.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in Asia-Pacific were China ($X), Japan ($X) and Thailand ($X), with a combined 68% share of total imports. South Korea, Vietnam, the Philippines, Malaysia and Indonesia lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, the Philippines, with a CAGR of +12.8%, recorded the highest rates of growth with regard to 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, with an increase of 12% against the previous year. Overall, the import price showed a relatively flat trend pattern. 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 Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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