Eastern Asia: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Eastern Asia

The East Asian frozen fish meat market rose modestly to $X in 2021, picking up by 5% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 7.6%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Frozen Fish Meat Production in Eastern Asia

In value terms, frozen fish meat production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 12%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Frozen Fish Meat Exports

Exports in Eastern Asia

In 2021, overseas shipments of frozen fish meat increased by 4.7% to X tons for the first time since 2016, thus ending a four-year declining trend. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% 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 decreased by -33.5% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of 51% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen fish meat exports stood at $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value 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 decreased by -20.4% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 27%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 88% of total exports in 2021. It was distantly followed by South Korea (X tons), committing a 7.5% share of total exports. The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - together made up 4.4% of total exports.

Exports from China increased at an average annual rate of +3.6% from 2012 to 2021. At the same time, South Korea (+18.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +18.8% from 2012-2021. By contrast, Taiwan (Chinese) (-2.7%) and Japan (-3.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and China increased by +5.3 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen fish meat supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was held by South Korea ($X), with a 5.8% share of total exports. It was followed by Japan, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+16.9% per year) and Japan (-0.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2017 when the export price increased by 35% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 Japan (+2.6%), while the other leaders experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports in Eastern Asia

After two years of decline, overseas purchases of frozen fish meat increased by 1.9% to X tons in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, frozen fish meat imports rose notably to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 13%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) was the largest importer of frozen fish meat, creating 51% of total imports. South Korea (X tons) held a 28% share (based on physical terms) of total imports, which put it in second place, followed by China (11%) and Taiwan (Chinese) (8.4%). Hong Kong SAR (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +7.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported frozen fish meat in Eastern Asia, comprising 62% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by China, with a 9.7% share.

In Japan, frozen fish meat imports declined by an average annual rate of -2.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.3% per year) and China (+9.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 5.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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