Eastern Asia: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Eastern Asia

In 2021, after four years of growth, there was significant decline in the East Asian frozen whole fish market, when its value decreased by -6.7% to $X. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined in the following year.

Frozen Whole Fish Production in Eastern Asia

In value terms, frozen whole fish production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41%. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Frozen Whole Fish Exports

Exports in Eastern Asia

In 2021, exports of frozen whole fish in Eastern Asia reduced to X tons, falling by -6.9% against the previous year. Over the period under review, exports showed a mild curtailment. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, frozen whole fish exports stood at $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 8.5%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from China (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons), together finishing at 99% of total export.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +3.5%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, China ($X) remains the largest frozen whole fish supplier in Eastern Asia, comprising 50% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 21% share of total exports. It was followed by South Korea, with a 15% share.

In China, frozen whole fish exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-2.2% per year) and South Korea (-3.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 8.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. 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, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($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 (+4.0%), while the other leaders experienced a decline in the export price figures.

Frozen Whole Fish Imports

Imports in Eastern Asia

In 2021, supplies from abroad of frozen whole fish decreased by -13% to X tons, falling for the second year in a row after four years of growth. In general, imports saw a mild reduction. The growth pace was the most rapid in 2017 with an increase of 6%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, frozen whole fish imports rose to $X in 2021. Overall, imports recorded a mild setback. The most prominent rate of growth was recorded in 2017 with an increase of 11%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China represented the largest importing country with an import of around X tons, which reached 52% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 25% share, followed by Japan (19%). Taiwan (Chinese) (X tons) held a minor share of total imports.

Imports into China decreased at an average annual rate of -2.1% from 2012 to 2021. At the same time, South Korea (+2.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.5% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-2.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea increased by +7.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen whole fish importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 94% share of total imports. Taiwan (Chinese) lagged somewhat behind, comprising a further 3.3%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +6.8%, recorded 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

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, 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 Taiwan (Chinese) (+6.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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