China: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in China

After nine years of growth, the Chinese battered fish fillet market decreased by -13.4% to $X in 2021. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Battered Fish Fillet Production in China

In value terms, battered fish fillet production shrank slightly to $X in 2021 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +69.3% against 2012 indices. The growth pace was the most rapid in 2018 when the production volume increased by 10%. Battered fish fillet production peaked at $X in 2020, and then shrank modestly in the following year.

Battered Fish Fillet Exports

Exports from China

For the fifth year in a row, China recorded growth in overseas shipments of fish fillets in batter or breadcrumbs, which increased by 18% to X tons in 2021. Overall, exports showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, battered fish fillet exports soared to $X in 2021. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of battered fish fillet exports from China, together comprising 63% of total exports. These countries were followed by Israel, Malaysia, South Korea, Rwanda, Kenya, South Africa and Russia, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Rwanda (with a CAGR of +108.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Japan ($X) appeared to be the largest markets for battered fish fillet exported from China worldwide, together comprising 63% of total exports. These countries were followed by Malaysia, Israel, South Korea, Rwanda, Kenya, South Africa and Russia, which together accounted for a further 14%.

Rwanda, with a CAGR of +119.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 battered fish fillet export price amounted to $X per ton, increasing by 2.2% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 11% against the previous year. 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to South Africa ($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 Rwanda (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into China

In 2021, supplies from abroad of fish fillets in batter or breadcrumbs decreased by -93.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 730% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then fell remarkably in the following year.

In value terms, battered fish fillet imports shrank markedly to $X in 2021. Over the period under review, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of 608%. Over the period under review, imports hit record highs at $X in 2020, and then shrank rapidly in the following year.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of battered fish fillet to China, with a 44% share of total imports. Moreover, battered fish fillet imports from Vietnam exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-22.7% per year) and Malaysia (-12.0% per year).

In value terms, the largest battered fish fillet suppliers to China were Vietnam ($X), the United States ($X) and Japan ($X), together comprising 67% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +36.7%, 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 battered fish fillet import price stood at $X per ton in 2021, jumping by 129% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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