Asia-Pacific: Smoked Herring Market 2024

Smoked Herring Market Size in Asia-Pacific

The Asia-Pacific smoked herring market fell slightly to $X in 2022, which is down by -4.7% against the previous year. In general, consumption continues to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 8.8%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Smoked Herring Production in Asia-Pacific

In value terms, smoked herring production reduced slightly to $X in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 10%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in overseas shipments of smoked herrings, which increased by 92% to X tons in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 3,655% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, smoked herring exports soared to $X in 2022. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 4,944%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Myanmar (X tons), creating an 8.2% share of total exports.

China was also the fastest-growing in terms of the smoked herrings exports, with a CAGR of +165.9% from 2012 to 2022. At the same time, Myanmar (+49.2%) displayed positive paces of growth. From 2012 to 2022, the share of China and Myanmar increased by +88 and +7.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest smoked herring supplier in Asia-Pacific, comprising 92% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +185.0%.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 45%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Myanmar totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.2%).

Smoked Herring Imports

Imports in Asia-Pacific

After three years of decline, supplies from abroad of smoked herrings increased by 46% to X tons in 2022. Over the period under review, imports, however, recorded a deep reduction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, smoked herring imports surged to $X in 2022. In general, imports, however, saw a abrupt downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X tons) represented the main importer of smoked herrings, mixing up 64% of total imports. It was distantly followed by New Caledonia (X tons), New Zealand (X tons) and Malaysia (X tons), together comprising a 22% share of total imports. South Korea (X tons), Brunei Darussalam (X tons) and French Polynesia (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to smoked herring imports into Australia stood at -5.4%. At the same time, Brunei Darussalam (+18.9%) and New Caledonia (+6.8%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +18.9% from 2012-2022. French Polynesia experienced a relatively flat trend pattern. By contrast, New Zealand (-8.3%), Malaysia (-8.9%) and South Korea (-27.8%) illustrated a downward trend over the same period. Australia (+21 p.p.), New Caledonia (+8.4 p.p.) and Brunei Darussalam (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -31.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported smoked herrings in Asia-Pacific, comprising 68% of total imports. The second position in the ranking was taken by New Caledonia ($X), with a 12% share of total imports. It was followed by New Zealand, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in Australia amounted to -2.8%. In the other countries, the average annual rates were as follows: New Caledonia (+1.7% per year) and New Zealand (-5.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by 5.3% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the import price increased by 30%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was French Polynesia ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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