Asia: Smoked Herring Market 2024

Smoked Herring Market Size in Asia

The Asian smoked herring market reduced slightly to $X in 2022, waning by -4.3% against the previous year. Overall, consumption continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when the market value increased by 9.3%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Smoked Herring Production in Asia

In value terms, smoked herring production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 9.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Smoked Herring Exports

Exports in Asia

For the fourth year in a row, Asia recorded growth in overseas shipments of smoked herrings, which increased by 93% to X tons in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,990%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, smoked herring exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 3,145% against the previous year. 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, amounting to X tons, which was near 87% of total exports in 2022. It was distantly followed by Myanmar (X tons), creating an 8% share of total exports. Jordan (X tons) followed a long way behind the leaders.

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, Jordan (+95.5%) and Myanmar (+49.2%) displayed positive paces of growth. China (+87 p.p.), Myanmar (+8 p.p.) and Jordan (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest smoked herring supplier in Asia, comprising 90% of total exports. The second position in the ranking was held by Myanmar ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +185.0%. In the other countries, the average annual rates were as follows: Myanmar (+31.5% per year) and Jordan (+50.9% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 20% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the export price increased by 41%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the other leaders experienced a decline in the export price figures.

Smoked Herring Imports

Imports in Asia

Smoked herring imports contracted to X tons in 2022, waning by -8.2% against 2021 figures. Over the period under review, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, smoked herring imports skyrocketed to $X in 2022. In general, imports showed a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait (X tons), Bahrain (X tons), Oman (X tons), the United Arab Emirates (X tons), Qatar (X tons) and Cyprus (X tons) represented roughly 75% of total imports in 2022. Kazakhstan (X tons), Malaysia (X tons), Georgia (X tons), South Korea (X tons), Brunei Darussalam (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Georgia (with a CAGR of +40.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Oman ($X) and Cyprus ($X) were the countries with the highest levels of imports in 2022, with a combined 45% share of total imports. Bahrain, Kuwait, the United Arab Emirates, Kazakhstan, Malaysia, Georgia, Turkey, South Korea and Brunei Darussalam lagged somewhat behind, together accounting for a further 44%.

Among the main importing countries, Turkey, with a CAGR of +32.4%, saw 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 2022, the import price in Asia amounted to $X per ton, increasing by 26% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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