Australia and Oceania: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Australia and Oceania

The frozen fish fillet market in Australia and Oceania stood at $X in 2022, increasing by 6.6% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Frozen Fish Fillet Production in Australia and Oceania

In value terms, frozen fish fillet production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 8.2%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Frozen Fish Fillet Exports

Exports in Australia and Oceania

In 2022, overseas shipments of frozen fish fillet increased by 23% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, frozen fish fillet exports skyrocketed to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +75.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

New Zealand dominates exports structure, recording X tons, which was near 98% of total exports in 2022. Australia (X tons) followed a long way behind the leaders.

New Zealand was also the fastest-growing in terms of the frozen fish fillet exports, with a CAGR of +2.3% from 2012 to 2022. Australia (-2.9%) illustrated a downward trend over the same period. New Zealand (+2.5 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, New Zealand ($X) remains the largest frozen fish fillet supplier in Australia and Oceania, comprising 95% of total exports. The second position in the ranking was held by Australia ($X), with a 4.2% share of total exports.

In New Zealand, frozen fish fillet exports increased at an average annual rate of +4.5% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of 7.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2018 an increase of 15%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

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 Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+13.6%).

Frozen Fish Fillet Imports

Imports in Australia and Oceania

Frozen fish fillet imports expanded modestly to X tons in 2022, surging by 3.1% compared with 2021 figures. Overall, imports, however, showed a mild slump. The pace of growth appeared the most rapid in 2013 when imports increased by 8.2% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports rose notably to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia prevails in imports structure, reaching X tons, which was approx. 93% of total imports in 2022. New Zealand (X tons) and Papua New Guinea (X tons) held a minor share of total imports.

Australia was also the fastest-growing in terms of the frozen fish fillet imports, with a CAGR of -1.2% from 2012 to 2022. New Zealand (-4.5%) and Papua New Guinea (-5.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +2.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported frozen fish fillet in Australia and Oceania, comprising 93% of total imports. The second position in the ranking was held by New Zealand ($X), with a 3.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +2.0%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+2.0% per year) and Papua New Guinea (-5.9% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by 7.8% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet import price increased by +18.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 22%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 Australia ($X per ton), while Papua New Guinea ($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 (+6.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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