Eastern Asia: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in Eastern Asia

After two years of growth, the East Asian dried or salted fish market decreased by -2.4% to $X in 2021. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then fell modestly in the following year.

Production of Dried Or Salted Fish in Eastern Asia

In value terms, dried or salted fish production rose to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Dried Or Salted Fish

Exports in Eastern Asia

In 2021, the amount of dried or salted fish exported in Eastern Asia shrank slightly to X tons, approximately mirroring 2020 figures. Overall, exports saw a pronounced descent. The growth pace was the most rapid in 2015 when exports increased by 20% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, dried or salted fish exports reduced to $X in 2021. In general, exports recorded a perceptible downturn. The growth pace was the most rapid in 2015 when exports increased by 17%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 88% of total exports in 2021. It was distantly followed by South Korea (X tons), comprising an 8.3% share of total exports. Hong Kong SAR (X tons) took a minor share of total exports.

Exports from China decreased at an average annual rate of -2.3% from 2012 to 2021. South Korea (-1.6%) and Hong Kong SAR (-24.9%) illustrated a downward trend over the same period. While the share of China (+14 p.p.) and South Korea (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-13.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest dried or salted fish supplier in Eastern Asia, comprising 88% of total exports. The second position in the ranking was held by South Korea ($X), with a 6.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-4.6% per year) and Hong Kong SAR (-19.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, falling by -5.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2014 when the export price increased by 9.7%. Over the period under review, the export prices reached the maximum at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Dried Or Salted Fish

Imports in Eastern Asia

In 2021, after two years of growth, there was significant decline in overseas purchases of dried or salted fish, when their volume decreased by -35.4% to X tons. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 62% against the previous year. The volume of import peaked at X tons in 2020, and then contracted significantly in the following year.

In value terms, dried or salted fish imports shrank remarkably to $X in 2021. Over the period under review, imports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 20%. The level of import peaked at $X in 2020, and then shrank remarkably in the following year.

Imports by Country

China was the major importing country with an import of around X tons, which reached 70% of total imports. It was distantly followed by South Korea (X tons), creating a 22% share of total imports. Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the dried or salted fish imports, with a CAGR of +37.8% from 2012 to 2021. At the same time, South Korea (+1.2%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-8.9%) and Hong Kong SAR (-17.3%) illustrated a downward trend over the same period. While the share of China (+62 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-10.6 p.p.), South Korea (-15.7 p.p.) and Hong Kong SAR (-22 p.p.) displayed negative dynamics.

In value terms, the largest dried or salted fish importing markets in Eastern Asia were South Korea ($X), China ($X) and Hong Kong SAR ($X), together accounting for 91% of total imports.

China, with a CAGR of +32.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 18% against the previous year. In general, the import price, however, showed a deep downturn. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while China ($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 (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :