Asia-Pacific: Molluscs Market 2024

Molluscs Market Size in Asia-Pacific

The Asia-Pacific molluscs market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Molluscs Production in Asia-Pacific

In value terms, molluscs production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Molluscs Exports

Exports in Asia-Pacific

In 2021, shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) increased by 23% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, molluscs exports surged to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

China was the largest exporter of molluscs (scallops, mussels, cuttle fish, squid and octopus) in Asia-Pacific, with the volume of exports resulting at X tons, which was near 34% of total exports in 2021. Indonesia (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by India (13%), Vietnam (9.9%), Taiwan (Chinese) (8.5%), South Korea (5.5%) and New Zealand (4.8%).

From 2012 to 2021, average annual rates of growth with regard to molluscs exports from China stood at +4.2%. At the same time, Indonesia (+8.6%), India (+3.6%) and South Korea (+1.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.6% from 2012-2021. By contrast, New Zealand (-1.9%), Taiwan (Chinese) (-2.3%) and Vietnam (-7.4%) illustrated a downward trend over the same period. While the share of China (+11 p.p.), Indonesia (+7.3 p.p.) and India (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-1.8 p.p.) and Vietnam (-9.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest molluscs supplier in Asia-Pacific, comprising 44% of total exports. The second position in the ranking was held by Vietnam ($X), with a 12% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +4.8%. In the other countries, the average annual rates were as follows: Vietnam (-4.6% per year) and India (+7.4% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, shrinking by -3.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2018 an increase of 9.5% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a 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 China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.8%), while the other leaders experienced more modest paces of growth.

Molluscs Imports

Imports in Asia-Pacific

In 2021, approx. X tons of molluscs (scallops, mussels, cuttle fish, squid and octopus) were imported in Asia-Pacific; rising by 18% compared with the year before. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports expanded notably to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the major importing country with an import of around X tons, which resulted at 41% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 19% share, followed by Thailand (13%) and Japan (9.9%). Taiwan (Chinese) (X tons), Malaysia (X tons), Vietnam (X tons) and Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to molluscs imports into China stood at +7.9%. At the same time, Democratic People's Republic of Korea (+24.5%), Thailand (+8.2%) and Malaysia (+4.2%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +24.5% from 2012-2021. By contrast, Japan (-1.4%), South Korea (-2.1%), Taiwan (Chinese) (-9.4%) and Vietnam (-20.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Thailand increased by +21 and +6.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 66% share of total imports. These countries were followed by Thailand, Taiwan (Chinese), Vietnam, Malaysia and Democratic People's Republic of Korea, which together accounted for a further 22%.

Among the main importing countries, Democratic People's Republic of Korea, with a CAGR of +28.3%, saw the highest growth rate of 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, dropping by -5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the import price increased by 16% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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