Eastern Asia: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in Eastern Asia

In 2021, after two years of growth, there was decline in the East Asian frozen cuttlefishes market, when its value decreased by -4.8% to $X. Overall, consumption, however, continues to indicate a noticeable decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Frozen Cuttlefishes Production in Eastern Asia

In value terms, frozen cuttlefishes production reduced to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.8% against 2015 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 23% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Frozen Cuttlefishes Exports

Exports in Eastern Asia

In 2021, overseas shipments of frozen cuttlefishes increased by 21% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, faced a significant curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 39% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports rose rapidly to $X in 2021. Overall, exports, however, faced a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 46% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) represented the main exporter of frozen cuttlefishes, creating 78% of total exports. Democratic People's Republic of Korea (X tons) ranks second in terms of the total exports with a 10% share, followed by Taiwan (Chinese) (8.4%). South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to frozen cuttlefishes exports from China stood at -20.0%. Taiwan (Chinese) (-16.2%), Democratic People's Republic of Korea (-27.0%) and South Korea (-34.4%) illustrated a downward trend over the same period. While the share of China (+18 p.p.) and Taiwan (Chinese) (+4.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-7.6 p.p.) and Democratic People's Republic of Korea (-7.8 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest frozen cuttlefishes supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 5.7% share.

In China, frozen cuttlefishes exports decreased by an average annual rate of -16.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (-14.9% per year) and Taiwan (Chinese) (-8.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, which is down by -7.4% against the previous year. Over the period under review, the export price, however, saw a strong increase. The growth pace was the most rapid in 2019 when the export price increased by 37%. The level of export peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+16.6%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in Eastern Asia

In 2021, overseas purchases of frozen cuttlefishes increased by 16% to X tons for the first time since 2014, thus ending a six-year declining trend. In general, imports, however, showed a precipitous shrinkage. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports reached $X in 2021. Overall, imports, however, continue to indicate a sharp downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Democratic People's Republic of Korea (X tons) represented the main importer of frozen cuttlefishes, constituting 49% of total imports. China (X tons) ranks second in terms of the total imports with a 30% share, followed by South Korea (14%). Japan (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of +25.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest frozen cuttlefishes importing markets in Eastern Asia were South Korea ($X), Democratic People's Republic of Korea ($X) and China ($X), with a combined 74% share of total imports.

Democratic People's Republic of Korea, with a CAGR of +29.1%, 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 a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, declining by -3.7% against the previous year. Over the period under review, the import price, however, posted mild growth. The pace of growth was the most pronounced in 2017 an increase of 94% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+21.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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