Australia: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Australia

The Australian seafood meals and pellets market fell to $X in 2021, with a decrease of -14.3% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Australia

In value terms, seafood meals and pellets production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a modest increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 68% against the previous year. Seafood meals and pellets production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Australia

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were exported from Australia; waning by -43.3% on 2020 figures. Over the period under review, exports showed a pronounced descent. The growth pace was the most rapid in 2014 with an increase of 76%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, seafood meals and pellets exports reduced to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 35% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons), the United States (X tons) and New Zealand (X tons) were the main destinations of seafood meals and pellets exports from Australia, together accounting for 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +20.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for seafood meals and pellets exported from Australia were the United States ($X), Japan ($X) and New Zealand ($X), together comprising 98% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +21.9%, saw the highest growth rate of 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 2021, the average seafood meals and pellets export price amounted to $X per ton, increasing by 51% against the previous year. Overall, the export price recorded a temperate expansion. The most prominent rate of growth was recorded in 2016 an increase of 159%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+59.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Australia

After two years of growth, overseas purchases of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -25% to X tons in 2021. Overall, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of 57%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, seafood meals and pellets imports shrank notably to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 50%. Imports peaked at $X in 2020, and then contracted significantly in the following year.

Imports by Country

Peru (X tons), American Samoa (X tons) and Norway (X tons) were the main suppliers of seafood meals and pellets imports to Australia, with a combined 66% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Norway ($X) and American Samoa ($X) constituted the largest seafood meals and pellets suppliers to Australia, together accounting for 71% of total imports.

In terms of the main suppliers, Norway, with a CAGR of +24.2%, 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

The average seafood meals and pellets import price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 25%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Norway ($X per ton), while the price for Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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