Asia-Pacific: Preserved Tuna Market 2024

Preserved Tuna Market Size in Asia-Pacific

In 2021, the Asia-Pacific preserved tuna market increased by 0.7% to $X, rising for the sixth year in a row after three years of decline. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Preserved Tuna Production in Asia-Pacific

In value terms, preserved tuna production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Preserved Tuna Exports

Exports in Asia-Pacific

In 2021, exports of tuna (prepared or preserved) in Asia-Pacific contracted to X tons, shrinking by -9.6% against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, preserved tuna exports shrank to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 15%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the key exporting country with an export of about X tons, which amounted to 51% of total exports. China (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Papua New Guinea (11%), the Philippines (9.1%), Indonesia (7.1%) and Vietnam (6.1%).

From 2012 to 2021, average annual rates of growth with regard to preserved tuna exports from Thailand stood at -1.9%. At the same time, Papua New Guinea (+20.1%), China (+10.1%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +20.1% from 2012-2021. By contrast, Indonesia (-1.1%) and the Philippines (-1.4%) illustrated a downward trend over the same period. While the share of Papua New Guinea (+8.6 p.p.) and China (+8.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Philippines (-2 p.p.) and Thailand (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest preserved tuna supplier in Asia-Pacific, comprising 47% of total exports. The second position in the ranking was taken by China ($X), with an 18% share of total exports. It was followed by Papua New Guinea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at -3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+9.4% per year) and Papua New Guinea (+18.1% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, rising by 5.5% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 15%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in China ($X per ton) and Vietnam ($X per ton), while Thailand ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Preserved Tuna Imports

Imports in Asia-Pacific

Preserved tuna imports shrank modestly to X tons in 2021, declining by -3.1% compared with the year before. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, preserved tuna imports dropped to $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 13%. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Japan (X tons), distantly followed by Australia (X tons), Thailand (X tons) and Papua New Guinea (X tons) represented the key importers of tuna (prepared or preserved), together generating 80% of total imports. The following importers - New Zealand (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), the Philippines (X tons) and Vietnam (X tons) - together made up 11% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +65.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Australia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 77% share of total imports. New Zealand, Papua New Guinea, Malaysia, Taiwan (Chinese), the Philippines and Vietnam lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, the Philippines, with a CAGR of +63.9%, recorded the highest rates of growth with regard to 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, reducing by -3.3% against the previous year. In general, the import price saw a slight contraction. The pace of growth appeared the most rapid in 2017 when the import price increased by 16% against the previous year. The level of import peaked 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 ($X per ton), while Papua New Guinea ($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) (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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