Eastern Asia: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Eastern Asia

The East Asian dried or smoked fish market amounted to $X in 2021, surging by 2% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Production of Dried Or Smoked Fish in Eastern Asia

In value terms, dried or smoked fish production amounted to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Dried Or Smoked Fish

Exports in Eastern Asia

In 2021, shipments abroad of dried or smoked fish decreased by -13.7% to X tons, falling for the third consecutive year after three years of growth. Overall, exports showed a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of 15%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, dried or smoked fish exports reduced to $X in 2021. In general, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by 6.8%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 92% of total exports in 2021. The following exporters - South Korea (X tons) and Hong Kong SAR (X tons) - each resulted at a 5.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to dried or smoked fish exports from China stood at -3.8%. South Korea experienced a relatively flat trend pattern. Hong Kong SAR (-19.1%) illustrated a downward trend over the same period. China (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -8.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest dried or smoked fish supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at -2.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-7.7% per year) and South Korea (+4.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 8.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 an increase of 24%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting 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 Hong Kong SAR (+14.1%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports in Eastern Asia

In 2021, supplies from abroad of dried or smoked fish decreased by -28.1% to X tons for the first time since 2014, thus ending a six-year rising trend. In general, imports, however, enjoyed a slight expansion. The growth pace was the most rapid in 2017 with an increase of 37% against the previous year. The volume of import peaked at X tons in 2020, and then contracted sharply in the following year.

In value terms, dried or smoked fish imports fell modestly to $X in 2021. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 17% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China was the main importer of dried or smoked fish in Eastern Asia, with the volume of imports accounting for X tons, which was near 54% of total imports in 2021. It was distantly followed by South Korea (X tons), Japan (X tons) and Hong Kong SAR (X tons), together constituting a 39% share of total imports. The following importers - Democratic People's Republic of Korea (X tons) and Taiwan (Chinese) (X tons) - together made up 6.8% of total imports.

China was also the fastest-growing in terms of the dried or smoked fish imports, with a CAGR of +31.4% from 2012 to 2021. At the same time, Democratic People's Republic of Korea (+9.2%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-4.5%), Japan (-5.4%), Hong Kong SAR (-5.9%) and South Korea (-8.2%) illustrated a downward trend over the same period. China (+48 p.p.) and Democratic People's Republic of Korea (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Hong Kong SAR, Japan and South Korea saw its share reduced by -2.4%, -9.9%, -14% and -23% from 2012 to 2021, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported dried or smoked fish in Eastern Asia, comprising 45% of total imports. The second position in the ranking was held by Japan ($X), with a 21% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Hong Kong SAR totaled -1.4%. In the other countries, the average annual rates were as follows: Japan (-6.0% per year) and China (+26.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, jumping by 35% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 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 (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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