Eastern Asia: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2025

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Eastern Asia

The East Asian seafood meals and pellets market soared to $X in 2021, with an increase of 25% against the previous year. The market value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Eastern Asia

In value terms, seafood meals and pellets production fell to $X in 2021 estimated in export price. In general, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 232% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports in Eastern Asia

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were exported in Eastern Asia; picking up by 6.2% against the previous year. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 29%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, seafood meals and pellets exports rose remarkably to $X in 2021. Over the period under review, exports recorded prominent growth. The growth pace was the most rapid in 2018 when exports increased by 31% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, South Korea (X tons) represented the major exporter of flours, meals and pellets of fish or of crustaceans and molluscs, generating 81% of total exports. It was distantly followed by Japan (X tons), mixing up a 14% share of total exports. Taiwan (Chinese) (X tons) and China (X tons) followed a long way behind the leaders.

Exports from South Korea increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Taiwan (Chinese) (+16.2%), China (+7.0%) and Japan (+3.4%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +16.2% from 2012-2021. While the share of Taiwan (Chinese) (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest seafood meals and pellets supplier in Eastern Asia, comprising 73% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by Taiwan (Chinese), with a 4.2% share.

In South Korea, seafood meals and pellets exports expanded at an average annual rate of +6.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+7.5% per year) and Taiwan (Chinese) (+17.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 5.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 China (+4.3%), while the other leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports in Eastern Asia

In 2021, overseas purchases of flours, meals and pellets of fish or of crustaceans and molluscs increased by 20% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.4% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, seafood meals and pellets imports surged to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in imports structure, accounting for X tons, which was approx. 83% of total imports in 2021. Japan (X tons) held a 6.9% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (6.5%). South Korea (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, South Korea (+5.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +5.2% from 2012-2021. By contrast, Taiwan (Chinese) (-2.7%) and Japan (-5.7%) illustrated a downward trend over the same period. China (+11 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Japan saw its share reduced by -4.1% and -8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported flours, meals and pellets of fish or of crustaceans and molluscs in Eastern Asia, comprising 83% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.7% share of total imports. It was followed by Taiwan (Chinese), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +5.5%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-5.1% per year) and Taiwan (Chinese) (-1.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 8.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2013 when the import price increased by 23% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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