Eastern Asia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Eastern Asia

The East Asian frozen fish and seafood market rose remarkably to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Frozen Fish And Seafood in Eastern Asia

In value terms, frozen fish and seafood production expanded modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports in Eastern Asia

In 2022, shipments abroad of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports, however, showed a mild curtailment. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen fish and seafood exports expanded rapidly to $X in 2022. In general, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the main exporter of frozen fish and seafood, committing X% of total exports. South Korea (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%) and Japan (X%).

From 2012 to 2022, average annual rates of growth with regard to frozen fish and seafood exports from China stood at X%. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (X p.p.) and China (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest frozen fish and seafood supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with an X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, frozen fish and seafood exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($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 (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports in Eastern Asia

In 2022, after two years of decline, there was significant growth in supplies from abroad of frozen fish and seafood, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen fish and seafood imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the major importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together making up a X% share of total imports. Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) held a relatively small share of total imports.

China was also the fastest-growing in terms of the frozen fish and seafood imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. By contrast, Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish and seafood importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total imports.

In terms of the main importing countries, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

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 Hong Kong SAR ($X per ton), while South Korea ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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