Eastern Asia: Preserved Herring Market 2024

Preserved Herring Market Size in Eastern Asia

The East Asian preserved herring market expanded modestly to $X in 2021, surging by 4.9% against the previous year. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Preserved Herring Production in Eastern Asia

In value terms, preserved herring production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% 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 2017 with an increase of 22%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Herring Exports

Exports in Eastern Asia

In 2021, shipments abroad of herrings (prepared or preserved) decreased by -27.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 78%. As a result, the exports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, preserved herring exports shrank to $X in 2021. Overall, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 17%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 90% of total exports in 2021. It was distantly followed by Japan (X tons), mixing up an 8.9% share of total exports.

Exports from China decreased at an average annual rate of -1.3% from 2012 to 2021. At the same time, Japan (+3.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.4% from 2012-2021. From 2012 to 2021, the share of Japan increased by +2.9 percentage points.

In value terms, China ($X) remains the largest preserved herring supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Japan ($X), with a 28% share of total exports.

In China, preserved herring exports declined by an average annual rate of -2.6% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 31% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 33%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-0.8%).

Preserved Herring Imports

Imports in Eastern Asia

In 2021, purchases abroad of herrings (prepared or preserved) decreased by -3.6% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 5.9%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports contracted slightly to $X in 2021. Overall, imports saw a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 10%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan dominates imports structure, recording X tons, which was near 93% of total imports in 2021. The following importers - China (X tons) and South Korea (X tons) - together made up 5.2% of total imports.

Imports into Japan decreased at an average annual rate of -7.1% from 2012 to 2021. At the same time, China (+4.0%) and South Korea (+1.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +4.0% from 2012-2021. From 2012 to 2021, the share of China increased by +2.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported herrings (prepared or preserved) in Eastern Asia, comprising 93% of total imports. The second position in the ranking was held by China ($X), with a 2.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at -7.1%. The remaining importing countries recorded the following average annual rates of imports growth: China (+1.3% per year) and South Korea (-0.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($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 (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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