Asia-Pacific: Preserved Herring Market 2024

Preserved Herring Market Size in Asia-Pacific

The Asia-Pacific preserved herring market rose to $X in 2021, surging by 2.7% against the previous year. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Herring Production in Asia-Pacific

In value terms, preserved herring production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Herring Exports

Exports in Asia-Pacific

In 2021, approx. X tons of herrings (prepared or preserved) were exported in Asia-Pacific; with a decrease of -24.8% compared with the previous year's figure. Overall, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 when exports increased by 80%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved herring exports dropped to $X in 2021. In general, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of 39% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons) represented the major exporter of herrings (prepared or preserved), achieving 62% of total exports. It was distantly followed by Vietnam (X tons), Thailand (X tons) and Japan (X tons), together comprising a 33% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved herring exports from China stood at -1.3%. At the same time, Thailand (+4.3%) and Japan (+3.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +4.3% from 2012-2021. By contrast, Vietnam (-15.9%) illustrated a downward trend over the same period. While the share of China (+21 p.p.), Thailand (+5.5 p.p.) and Japan (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Vietnam (-31.4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest preserved herring supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was taken by Japan ($X), with a 21% share of total exports. It was followed by Vietnam, with a 13% share.

In China, preserved herring exports contracted by an average annual rate of -2.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+2.6% per year) and Vietnam (-16.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The level of export peaked 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 Japan ($X per ton), while Thailand ($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 (+8.4%), while the other leaders experienced a decline in the export price figures.

Preserved Herring Imports

Imports in Asia-Pacific

Preserved herring imports declined to X tons in 2021, waning by -9.6% against the previous year's figure. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 10%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved herring imports declined to $X in 2021. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan was the major importer of herrings (prepared or preserved) in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 55% of total imports in 2021. Australia (X tons) ranks second in terms of the total imports with a 28% share, followed by Vietnam (6.5%). The following importers - China (X tons) and Indonesia (X tons) - each accounted for a 3.7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved herring imports into Japan stood at -7.1%. At the same time, Vietnam (+28.8%), Indonesia (+14.4%) and China (+4.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +28.8% from 2012-2021. By contrast, Australia (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +6.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported herrings (prepared or preserved) in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was held by Australia ($X), with a 27% share of total imports. It was followed by Vietnam, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at -7.1%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (-1.1% per year) and Vietnam (+30.7% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, increasing by 5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 11%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

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 Australia (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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