Eastern Asia: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2025

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Eastern Asia

The East Asian meat and fish extracts market rose slightly to $X in 2021, picking up by 4.7% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Eastern Asia

In value terms, meat and fish extracts production rose to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in overseas shipments of extracts and juices of meat, fish, crustaceans and molluscs, which increased by 1.3% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.0% against 2012 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, meat and fish extracts exports fell dramatically to $X in 2021. In general, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 63%. As a result, the exports reached the peak of $X, and then dropped dramatically in the following year.

Exports by Country

China was the key exporting country with an export of around X tons, which amounted to 71% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 17% share, followed by Hong Kong SAR (9.1%). Japan (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.0% from 2012 to 2021. At the same time, Hong Kong SAR (+11.7%) and South Korea (+10.4%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +11.7% from 2012-2021. By contrast, Japan (-6.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and Hong Kong SAR increased by +6.1 and +3.8 percentage points, respectively.

In value terms, China ($X) remains the largest meat and fish extracts supplier in Eastern Asia, comprising 53% of total exports. The second position in the ranking was held by South Korea ($X), with a 21% share of total exports. It was followed by Hong Kong SAR, with a 13% share.

In China, meat and fish extracts exports expanded at an average annual rate of +3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+10.4% per year) and Hong Kong SAR (+8.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, shrinking by -39.9% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 47%. As a result, the export price attained the peak level of $X per ton, and then fell dramatically in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+8.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports in Eastern Asia

In 2021, approx. X tons of extracts and juices of meat, fish, crustaceans and molluscs were imported in Eastern Asia; increasing by 6.5% compared with the previous year's figure. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% 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 increased by +84.9% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 27%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, meat and fish extracts imports stood at $X in 2021. The total import value increased at an average annual rate of +4.5% 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 22% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

South Korea was the major importing country with an import of around X tons, which recorded 51% of total imports. It was distantly followed by Japan (X tons) and Hong Kong SAR (X tons), together creating a 47% share of total imports.

South Korea was also the fastest-growing in terms of the extracts and juices of meat, fish, crustaceans and molluscs imports, with a CAGR of +7.9% from 2012 to 2021. At the same time, Hong Kong SAR (+4.2%) and Japan (+1.4%) displayed positive paces of growth. From 2012 to 2021, the share of South Korea increased by +11 percentage points.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2021, with a combined 95% share of total imports.

Hong Kong SAR, with a CAGR of +8.4%, saw the highest growth rate of the value of imports, among 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, rising by 7.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($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 (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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