China: Market for Dried Or Smoked Fish 2025

Market Size for Dried Or Smoked Fish in China

In 2021, the Chinese dried or smoked fish market decreased by -4.5% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.1% against 2018 indices. Dried or smoked fish consumption peaked at $X in 2020, and then contracted modestly in the following year.

Production of Dried Or Smoked Fish in China

In value terms, dried or smoked fish production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 19%. Dried or smoked fish production peaked at $X in 2020, and then reduced in the following year.

Exports of Dried Or Smoked Fish

Exports from China

In 2021, shipments abroad of dried or smoked fish decreased by -13.9% to X tons, falling for the third year in a row after three years of growth. Overall, exports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2016 with an increase of 13%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, dried or smoked fish exports dropped to $X in 2021. In general, exports saw a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 5.1% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Portugal (X tons) were the main destinations of dried or smoked fish exports from China, together accounting for 45% of total exports. The United States, Brazil, Hong Kong SAR, the UK and Puerto Rico lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +3.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and the United States ($X) were the largest markets for dried or smoked fish exported from China worldwide, with a combined 52% share of total exports. These countries were followed by Hong Kong SAR, Brazil, Portugal, the UK and Puerto Rico, which together accounted for a further 30%.

In terms of the main countries of destination, the UK, with a CAGR of +3.6%, 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

The average dried or smoked fish export price stood at $X per ton in 2021, rising by 7.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2019 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Portugal ($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 Puerto Rico (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports into China

In 2021, supplies from abroad of dried or smoked fish decreased by -37.9% to X tons for the first time since 2014, thus ending a six-year rising trend. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 446% against the previous year. Imports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, dried or smoked fish imports fell markedly to $X in 2021. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 148%. Imports peaked at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest dried or smoked fish supplier to China, with a 78% share of total imports. Moreover, dried or smoked fish imports from Vietnam exceeded the figures recorded by the second-largest supplier, Myanmar (X tons), tenfold. The third position in this ranking was taken by Norway (X tons), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam totaled +82.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+3.9% per year) and Norway (+66.6% per year).

In value terms, Vietnam ($X) constituted the largest supplier of dried or smoked fish to China, comprising 64% of total imports. The second position in the ranking was held by Indonesia ($X), with an 18% share of total imports. It was followed by Myanmar, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam stood at +62.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+43.6% per year) and Myanmar (+9.3% per year).

Import Prices by Country

The average dried or smoked fish import price stood at $X per ton in 2021, growing by 22% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2015 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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