Asia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Asia

In 2021, after two years of decline, there was significant growth in the Asian preserved salmon market, when its value increased by 5.4% to $X. In general, consumption, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2016 when the market value increased by 9.9%. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Preserved Salmon Production in Asia

In value terms, preserved salmon production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a slight curtailment. The growth pace was the most rapid in 2016 with an increase of 10% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Preserved Salmon Exports

Exports in Asia

In 2021, after two years of growth, there was significant decline in shipments abroad of salmon (prepared or preserved), when their volume decreased by -10.7% to X tons. The total export volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 29%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved salmon exports dropped to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 45%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand was the key exporting country with an export of around X tons, which amounted to 64% of total exports. Vietnam (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by China (12%).

From 2012 to 2021, average annual rates of growth with regard to preserved salmon exports from Thailand stood at +1.6%. At the same time, Vietnam (+13.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, 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 (-14.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual growth rate of value in Thailand was relatively modest. 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

The export price in Asia stood at $X per ton in 2021, leveling off at the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 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

In 2021, the amount of salmon (prepared or preserved) imported in Asia contracted to X tons, with a decrease of -10.3% compared with the year before. In general, imports showed a slight slump. The growth pace was the most rapid in 2013 when imports increased by 11%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved salmon imports dropped to $X in 2021. Over the period under review, imports recorded a slight descent. The pace of growth appeared the most rapid in 2016 with an increase of 14%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Japan dominates imports structure, amounting to X tons, which was near 81% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 6% share of total imports. The following importers - Yemen (X tons) and Hong Kong SAR (X tons) - each reached a 6.3% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon imports into Japan stood at -3.1%. At the same time, Yemen (+32.5%), Hong Kong SAR (+16.6%) and Taiwan (Chinese) (+15.3%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in Asia, with a CAGR of +32.5% from 2012-2021. Taiwan (Chinese) (+4.5 p.p.), Yemen (+3.3 p.p.) and Hong Kong SAR (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -11.1% from 2012 to 2021, respectively.

In value terms, Japan ($X) constitutes the largest market for imported salmon (prepared or preserved) in Asia, comprising 79% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.1% share of total imports. It was followed by Hong Kong SAR, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at -3.3%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+15.4% per year) and Hong Kong SAR (+17.9% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 10%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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