Australia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Australia

The Australian frozen fish and seafood market soared to $X in 2022, jumping by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen fish and seafood consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Frozen Fish And Seafood in Australia

In value terms, frozen fish and seafood production stood at $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. Frozen fish and seafood production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Australia

In 2022, exports of frozen fish and seafood from Australia dropped rapidly to X tons, waning by X% compared with the previous year. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish and seafood exports dropped to $X in 2022. Over the period under review, exports saw a perceptible curtailment. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for frozen fish and seafood exports from Australia, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was taken by Vietnam (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, Japan ($X) remains the key foreign market for frozen fish and seafood exports from Australia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Australia

In 2022, purchases abroad of frozen fish and seafood increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X tons), China (X tons) and New Zealand (X tons) were the main suppliers of frozen fish and seafood imports to Australia, together accounting for X% of total imports. Finland, Taiwan (Chinese), Indonesia, Thailand, South Africa, the United States, Norway, Malaysia and Namibia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constituted the largest supplier of frozen fish and seafood to Australia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by New Zealand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and New Zealand (X% per year).

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 Norway ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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