Asia-Pacific: Preserved Salmon Market 2024

Preserved Salmon Market Size in Asia-Pacific

After two years of decline, the Asia-Pacific preserved salmon market increased by 4.9% to $X in 2021. In general, consumption, however, saw a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Preserved Salmon Production in Asia-Pacific

In value terms, preserved salmon production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Preserved Salmon Exports

Exports in Asia-Pacific

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -10.9% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 30% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved salmon exports declined to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 45%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) represented the key exporter of salmon (prepared or preserved), comprising 64% of total exports. Vietnam (X tons) took the second position in the ranking, distantly followed by China (X tons). All these countries together took near 34% share of total exports.

Exports from Thailand increased at an average annual rate of +1.6% from 2012 to 2021. At the same time, Vietnam (+13.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +13.3% from 2012-2021. By contrast, China (-6.9%) illustrated a downward trend over the same period. While the share of Vietnam (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-14.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest preserved salmon supplier in Asia-Pacific, comprising 59% of total exports. The second position in the ranking was held by Vietnam ($X), with a 25% share of total exports.

In Thailand, preserved salmon exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+13.6% per year) and China (-7.6% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 16% 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.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.3%), while the other leaders experienced a decline in the export price figures.

Preserved Salmon Imports

Imports in Asia-Pacific

In 2021, approx. X tons of salmon (prepared or preserved) were imported in Asia-Pacific; with a decrease of -12.3% on 2020. In general, imports showed a pronounced slump. The growth pace was the most rapid in 2013 when imports increased by 6.4%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved salmon imports reduced to $X in 2021. Over the period under review, imports saw a perceptible downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 9.2%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) represented the key importer of salmon (prepared or preserved), mixing up 57% of total imports. It was distantly followed by Australia (X tons), constituting a 30% share of total imports. New Zealand (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +16.6%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported salmon (prepared or preserved) in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was taken by Australia ($X), with a 26% share of total imports. It was followed by Taiwan (Chinese), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled -3.3%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (-4.0% per year) and Taiwan (Chinese) (+15.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 2.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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