Eastern Asia: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Eastern Asia

In 2022, after seven years of growth, there was significant decline in the East Asian fish fat and oil market, when its value decreased by -6% to $X. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Production of Fish Fats And Oils in Eastern Asia

In value terms, fish fat and oil production rose slightly to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Fish Fats And Oils

Exports in Eastern Asia

After three years of decline, shipments abroad of fish fats and oils increased by 182% to X tons in 2022. Overall, exports showed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports skyrocketed to $X in 2022. Over the period under review, exports saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporting country with an export of about X tons, which recorded 70% of total exports. It was distantly followed by Japan (X tons), constituting a 29% share of total exports.

Exports from China increased at an average annual rate of +17.2% from 2012 to 2022. At the same time, Japan (+41.5%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +41.5% from 2012-2022. From 2012 to 2022, the share of Japan increased by +24 percentage points.

In value terms, China ($X) remains the largest fish fat and oil supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +12.1%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, shrinking by -48.1% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 77%. As a result, the export price reached the peak level of $X per ton, and then declined notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.3%).

Imports of Fish Fats And Oils

Imports in Eastern Asia

In 2022, imports of fish fats and oils in Eastern Asia expanded notably to X tons, increasing by 5.8% against 2021 figures. In general, imports, however, recorded a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of 22%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, fish fat and oil imports surged to $X in 2022. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) represented the largest importer of fish fats and oils, constituting 61% of total imports. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a 14% share, followed by Japan (13%) and South Korea (11%).

China was also the fastest-growing in terms of the fish fats and oils imports, with a CAGR of +6.0% from 2012 to 2022. South Korea experienced a relatively flat trend pattern. Japan (-9.0%) and Taiwan (Chinese) (-9.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +32 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported fish fats and oils in Eastern Asia, comprising 77% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 5.6% share.

In China, fish fat and oil imports expanded at an average annual rate of +16.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-4.5% per year) and Taiwan (Chinese) (-5.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 15% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fish fat and oil import price increased by +129.1% against 2012 indices. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :