Bangladesh: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Bangladesh

The Bangladeshi market for fish fillets and other fish meat rose to $X in 2022, increasing by 4.5% against the previous year. Over the period under review, consumption, however, recorded modest growth. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Fish Fillets and Other Fish Meat in Bangladesh

In value terms, production of fish fillets and other fish meat rose significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 46% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports from Bangladesh

In 2022, shipments abroad of fish fillets and other fish meat was finally on the rise to reach X tons after two years of decline. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 315% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of fish fillets and other fish meat fell modestly to $X in 2022. Over the period under review, exports showed buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 220% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), India (X tons) and Canada (X tons) were the main destinations of exports of fish fillets and other fish meat from Bangladesh, together accounting for 78% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +82.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Bangladesh, comprising 51% of total exports. The second position in the ranking was held by Canada ($X), with a 17% share of total exports. It was followed by the UK, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +58.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+6.8% per year) and the UK (+42.6% per year).

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, declining by -4.7% against the previous year. Overall, the export price, however, continues to indicate a mild increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 104% against the previous year. The export price peaked at $X per ton in 2021, and then reduced in the following year.

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 Italy ($X per ton), while the average price for exports to India ($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 Italy (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fish Fillets and Other Fish Meat

Imports into Bangladesh

Imports of fish fillets and other fish meat into Bangladesh declined to X tons in 2022, with a decrease of -7.9% on 2021. Overall, imports, however, showed significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 463%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of fish fillets and other fish meat fell remarkably to $X in 2022. In general, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 366%. Over the period under review, imports of reached the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest supplier of fish fillets and other fish meat to Bangladesh, accounting for a 14% share of total imports. Moreover, imports of fish fillets and other fish meat from Myanmar exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+106.0% per year) and Denmark (0.0% per year).

In value terms, the largest fish fillets and other fish meat suppliers to Bangladesh were Singapore ($X), Denmark ($X) and Myanmar ($X), together accounting for 20% of total imports.

Singapore, with a CAGR of +107.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, declining by -21.4% against the previous year. Overall, the import price, however, showed modest growth. The pace of growth appeared the most rapid in 2014 when the average import price increased by 156% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Denmark ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :