Asia-Pacific: Smoked Salmon Market 2024

Smoked Salmon Market Size in Asia-Pacific

The Asia-Pacific smoked salmon market shrank slightly to $X in 2022, which is down by -1.8% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Smoked Salmon Production in Asia-Pacific

In value terms, smoked salmon production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 16%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Smoked Salmon Exports

Exports in Asia-Pacific

Smoked salmon exports reduced slightly to X tons in 2022, which is down by -4% on 2021 figures. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 46%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, smoked salmon exports soared to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 32%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand represented the major exporting country with an export of about X tons, which reached 50% of total exports. China (X tons) ranks second in terms of the total exports with a 29% share, followed by Singapore (4.7%). Vietnam (X tons), Malaysia (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the largest smoked salmon supplier in Asia-Pacific, comprising 65% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports. It was followed by Singapore, with a 4.5% share.

In New Zealand, smoked salmon exports increased at an average annual rate of +7.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+8.2% per year) and Singapore (-7.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, jumping by 33% against the previous year. Over the period under review, the export price showed buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.4%), while the other leaders experienced more modest paces of growth.

Smoked Salmon Imports

Imports in Asia-Pacific

In 2022, after four years of decline, there was significant growth in purchases abroad of smoked pacific, atlantic and danube salmon, when their volume increased by 5.5% to X tons. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 18%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, smoked salmon imports rose sharply to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 2017 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Australia represented the major importer of smoked pacific, atlantic and danube salmon in Asia-Pacific, with the volume of imports amounting to X tons, which was near 51% of total imports in 2022. New Zealand (X tons) ranks second in terms of the total imports with a 15% share, followed by Hong Kong SAR (13%) and Japan (6%). Singapore (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total imports.

Imports into Australia increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, New Zealand (+64.5%), Vietnam (+21.9%) and Taiwan (Chinese) (+3.7%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +64.5% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Japan (-2.6%) and Hong Kong SAR (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of New Zealand, Australia and Vietnam increased by +15, +3.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported smoked pacific, atlantic and danube salmon in Asia-Pacific, comprising 52% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 17% share of total imports. It was followed by Hong Kong SAR, with an 11% share.

In Australia, smoked salmon imports increased at an average annual rate of +7.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+66.5% per year) and Hong Kong SAR (+0.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2017 when the import price increased by 17% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and New Zealand ($X per ton), while Hong Kong SAR ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :