China: Preserved Tuna Market 2024

Preserved Tuna Market Size in China

The Chinese preserved tuna market declined slightly to $X in 2021, which is down by -2.7% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Preserved Tuna Production in China

In value terms, preserved tuna production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 12%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Preserved Tuna Exports

Exports from China

After four years of growth, shipments abroad of tuna (prepared or preserved) decreased by -0.5% to X tons in 2021. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2013 with an increase of 29%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, preserved tuna exports skyrocketed to $X in 2021. Over the period under review, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by 33%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Thailand (X tons), Spain (X tons) and Mexico (X tons) were the main destinations of preserved tuna exports from China, with a combined 49% share of total exports. Algeria, Israel, Portugal, Vietnam, the United States, Italy, Turkey, Chile, Ecuador and Peru lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +96.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for tuna (prepared or preserved) exports from China, comprising 35% of total exports. The second position in the ranking was held by Spain ($X), with a 15% share of total exports. It was followed by Mexico, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+16.4% per year) and Mexico (+11.4% per year).

Export Prices by Country

In 2021, the average preserved tuna export price amounted to $X per ton, surging by 22% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to the United States ($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 Vietnam (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into China

Preserved tuna imports into China rose remarkably to X tons in 2021, surging by 11% compared with the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 114%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved tuna imports expanded to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 108% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Thailand (X tons), South Korea (X tons) and the Philippines (X tons) were the main suppliers of preserved tuna imports to China, together comprising 95% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +62.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and the Philippines ($X) were the largest preserved tuna suppliers to China, together accounting for 93% of total imports.

The Philippines, with a CAGR of +65.0%, recorded the highest rates of growth with regard to 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

The average preserved tuna import price stood at $X per ton in 2021, reducing by -6.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 12% against the previous year. The import price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :