Eastern Asia: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Eastern Asia

The East Asian inedible fish products market dropped modestly to $X in 2022, remaining constant against the previous year. Overall, consumption, however, posted a resilient increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in Eastern Asia

In value terms, inedible fish products production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 39%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports in Eastern Asia

In 2022, shipments abroad of inedible fish products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2019 with an increase of 52% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, inedible fish products exports totaled $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 19%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, South Korea (X tons) was the main exporter of inedible fish products, creating 58% of total exports. Taiwan (Chinese) (X tons) held the second position in the ranking, followed by China (X tons) and Japan (X tons). All these countries together held near 40% share of total exports.

Exports from South Korea increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Japan (+4.5%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.5% from 2012-2022. By contrast, Taiwan (Chinese) (-7.1%) and China (-8.4%) illustrated a downward trend over the same period. While the share of South Korea (+25 p.p.) and Japan (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-10.8 p.p.) and China (-12.8 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest inedible fish products supplier in Eastern Asia, comprising 52% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-1.2% per year) and Taiwan (Chinese) (-6.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, waning by -6.8% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 an increase of 33%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 (+11.1%), while the other leaders experienced mixed trends in the export price figures.

Inedible Fish Products Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in overseas purchases of inedible fish products, which decreased by -10.5% to X tons in 2022. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2019 when imports increased by 85% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports expanded remarkably to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 58% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Japan was the key importing country with an import of about X tons, which amounted to 56% of total imports. China (X tons) ranks second in terms of the total imports with a 19% share, followed by Taiwan (Chinese) (15%) and South Korea (9.2%). Hong Kong SAR (X tons) held a little share of total imports.

Imports into Japan decreased at an average annual rate of -9.1% from 2012 to 2022. At the same time, South Korea (+11.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.6% from 2012-2022. Taiwan (Chinese) and China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-4.7%) illustrated a downward trend over the same period. While the share of China (+7.8 p.p.), South Korea (+7.6 p.p.) and Taiwan (Chinese) (+7.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Japan (-22.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest inedible fish products importing markets in Eastern Asia were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 86% of total imports. South Korea and Hong Kong SAR lagged somewhat behind, together accounting for a further 14%.

South Korea, with a CAGR of +7.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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, increasing by 17% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products import price increased by +34.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by 44% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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