Asia-Pacific: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Asia-Pacific

For the third consecutive year, the Asia-Pacific preserved mackerel market recorded decline in sales value, which decreased by -3% to $X in 2021. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Preserved Mackerel Production in Asia-Pacific

In value terms, preserved mackerel production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% 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 2016 with an increase of 23% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Preserved Mackerel Exports

Exports in Asia-Pacific

In 2021, after two years of growth, there was significant decline in shipments abroad of mackerel (prepared or preserved), when their volume decreased by -17.4% to X tons. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 22% against the previous year. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, preserved mackerel exports dropped to $X in 2021. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 27% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the main exporting country with an export of about X tons, which accounted for 69% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 13% share, followed by Vietnam (10%). Singapore (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Vietnam (+9.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +9.9% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Thailand (-6.1%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) and Vietnam (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-16.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest preserved mackerel supplier in Asia-Pacific, comprising 59% of total exports. The second position in the ranking was taken by Thailand ($X), with a 16% share of total exports. It was followed by Vietnam, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +4.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-3.1% per year) and Vietnam (+11.7% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 9.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 9.6% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

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 Vietnam ($X per ton), while China ($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 (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Preserved Mackerel Imports

Imports in Asia-Pacific

In 2021, approx. X tons of mackerel (prepared or preserved) were imported in Asia-Pacific; which is down by -24% compared with the previous year. Total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -39.4% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 80% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved mackerel imports shrank significantly to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -35.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 75%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) represented the main importer of mackerel (prepared or preserved), committing 34% of total imports. It was distantly followed by Thailand (X tons), Sri Lanka (X tons), Fiji (X tons), Singapore (X tons), Papua New Guinea (X tons) and Indonesia (X tons), together comprising a 42% share of total imports. Malaysia (X tons), Samoa (X tons), New Zealand (X tons), Vanuatu (X tons), Australia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of +8.8% from 2012 to 2021. At the same time, the Philippines (+22.2%), Vanuatu (+15.6%), Indonesia (+6.5%), Papua New Guinea (+5.4%), Fiji (+4.9%) and Thailand (+2.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.2% from 2012-2021. By contrast, Samoa (-1.5%), Australia (-2.7%), New Zealand (-3.2%), Singapore (-4.9%), Malaysia (-5.8%) and Sri Lanka (-7.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan and Indonesia increased by +16 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported mackerel (prepared or preserved) in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was taken by Thailand ($X), with a 7.7% share of total imports. It was followed by Sri Lanka, with a 5.6% share.

In Japan, preserved mackerel imports expanded at an average annual rate of +5.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+4.1% per year) and Sri Lanka (-9.7% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, picking up by 10% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Fiji ($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 (+13.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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