Australia: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Australia

The Australian market for fish fillets and other fish meat reached $X in 2022, picking up by 9.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Exports of Fish Fillets and Other Fish Meat

Exports from Australia

In 2022, approx. X tons of fish fillets and other fish meat were exported from Australia; declining by -38.1% on the previous year. Over the period under review, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2021 with an increase of 94% against the previous year. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, exports of fish fillets and other fish meat contracted rapidly to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 219% against the previous year. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

The Netherlands (X tons), the United States (X tons) and New Zealand (X tons) were the main destinations of exports of fish fillets and other fish meat from Australia, together comprising 53% of total exports. Sri Lanka, Hong Kong SAR, Papua New Guinea, Nauru, Indonesia, Germany, the UK, China, Vietnam and the Philippines lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +119.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fish fillets and other fish meat exported from Australia were the Netherlands ($X), the United States ($X) and Hong Kong SAR ($X), with a combined 56% share of total exports. New Zealand, China, Germany, Sri Lanka, the UK, Indonesia, Papua New Guinea, Nauru, Vietnam and the Philippines lagged somewhat behind, together comprising a further 31%.

In terms of the main countries of destination, Sri Lanka, with a CAGR of +108.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, standing approx. at the previous year. In general, the export price posted a buoyant increase. The pace of growth was the most pronounced in 2015 an increase of 136% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+37.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Australia

In 2022, overseas purchases of fish fillets and other fish meat increased by 3.8% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2016 with an increase of 7.3%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of fish fillets and other fish meat rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Vietnam (X tons), New Zealand (X tons) and Norway (X tons) were the main suppliers of imports of fish fillets and other fish meat to Australia, with a combined 57% share of total imports. Taiwan (Chinese), Indonesia, South Africa, China and the United States lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +13.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fillets and other fish meat suppliers to Australia were Vietnam ($X), New Zealand ($X) and Indonesia ($X), with a combined 52% share of total imports. Norway, Taiwan (Chinese), South Africa, China and the United States lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, the United States, with a CAGR of +16.0%, saw the highest growth rate of 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

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, with an increase of 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 an increase of 19% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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