Eastern Asia: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Eastern Asia

For the third consecutive year, the East Asian preserved mackerel market recorded decline in sales value, which decreased by -2.6% to $X in 2021. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Mackerel Production in Eastern Asia

In value terms, preserved mackerel production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 32%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Preserved Mackerel Exports

Exports in Eastern Asia

After two years of growth, shipments abroad of mackerel (prepared or preserved) decreased by -15.5% to X tons in 2021. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 increased by +58.0% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 36% against the previous year. As a result, the exports reached the peak of X tons, and then declined sharply in the following year.

In value terms, preserved mackerel exports declined to $X in 2021. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 16% against the previous year. The level of export peaked at $X in 2020, and then reduced in the following year.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 98% of total exports in 2021. Japan (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the mackerel (prepared or preserved) exports, with a CAGR of +6.4% from 2012 to 2021. Japan (-8.1%) illustrated a downward trend over the same period. While the share of China (+6.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-4.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest preserved mackerel supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was held by Japan ($X), with a 4.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.7%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 11% against the previous year. Overall, the export price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 an increase of 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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 China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.4%).

Preserved Mackerel Imports

Imports in Eastern Asia

In 2021, purchases abroad of mackerel (prepared or preserved) decreased by -1.1% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 94%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved mackerel imports contracted to $X in 2021. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 75%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan dominates imports structure, accounting for X tons, which was approx. 94% of total imports in 2021. The following importers - South Korea (X tons) and Hong Kong SAR (X tons) - each recorded a 4.4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved mackerel imports into Japan stood at +8.8%. At the same time, South Korea (+14.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +14.3% from 2012-2021. By contrast, Hong Kong SAR (-1.5%) illustrated a downward trend over the same period. Japan (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported mackerel (prepared or preserved) in Eastern Asia, comprising 95% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 2.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan amounted to +5.5%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+0.6% per year) and South Korea (+18.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 an increase of 24% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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