Eastern Asia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Eastern Asia

After three years of growth, the East Asian preserved anchovies market decreased by -0.7% to $X in 2021. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern 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 reduced modestly in the following year.

Preserved Anchovies Production in Eastern Asia

In value terms, preserved anchovies production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then declined modestly in the following year.

Preserved Anchovies Exports

Exports in Eastern Asia

In 2021, exports of anchovies (prepared or preserved) in Eastern Asia dropped to X tons, waning by -10.9% compared with the previous year's figure. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 184% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved anchovies exports fell notably to $X in 2021. In general, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 179%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan was the main exporting country with an export of around X tons, which reached 63% of total exports. China (X tons) ranks second in terms of the total exports with a 22% share, followed by South Korea (9.2%) and Taiwan (Chinese) (4.8%).

Japan was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of +22.8% from 2012 to 2021. Taiwan (Chinese) (-5.7%), South Korea (-19.1%) and China (-19.4%) illustrated a downward trend over the same period. While the share of Japan (+59 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-17.1 p.p.) and China (-43.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) emerged as the largest preserved anchovies supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by South Korea, with an 11% share.

In Japan, preserved anchovies exports expanded at an average annual rate of +18.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-17.3% per year) and South Korea (-16.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, declining by -7.4% against the previous year. Export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies export price increased by +89.2% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 39%. The level of export peaked at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.3%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in Eastern Asia

In 2021, supplies from abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 45%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports rose remarkably to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 56% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan was the major importer of anchovies (prepared or preserved) in Eastern Asia, with the volume of imports finishing at X tons, which was near 73% of total imports in 2021. Taiwan (Chinese) (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (5%). China (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to preserved anchovies imports into Japan stood at -1.7%. At the same time, China (+35.3%) and Taiwan (Chinese) (+13.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +35.3% from 2012-2021. South Korea experienced a relatively flat trend pattern. From 2012 to 2021, the share of Taiwan (Chinese) and China increased by +12 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported anchovies (prepared or preserved) in Eastern Asia, comprising 67% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by South Korea, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at -3.5%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+24.7% per year) and South Korea (+4.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, falling by -4.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and South Korea ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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