Eastern Asia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Eastern Asia

In 2021, the East Asian preserved salmon market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Preserved Salmon Production in Eastern Asia

In value terms, preserved salmon production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable decline. The growth pace was the most rapid in 2016 when the production volume increased by 28%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Preserved Salmon Exports

Exports in Eastern Asia

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -45.7% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports showed a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 30%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports declined significantly to $X in 2021. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 95% of total exports in 2021. The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - each resulted at a 4.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon exports from China stood at -6.9%. At the same time, Taiwan (Chinese) (+23.2%) and Japan (+17.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +23.2% from 2012-2021. Japan (+2 p.p.) and Taiwan (Chinese) (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -3.7% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest preserved salmon supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Japan ($X), with a 5% share of total exports.

In China, preserved salmon exports declined by an average annual rate of -7.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+17.7% per year) and Taiwan (Chinese) (+21.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 22% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 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 export price figures.

Preserved Salmon Imports

Imports in Eastern Asia

For the fifth year in a row, Eastern Asia recorded decline in purchases abroad of salmon (prepared or preserved), which decreased by -9.9% to X tons in 2021. In general, imports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of 9.5% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved salmon imports shrank to $X in 2021. Overall, imports showed a slight slump. The most prominent rate of growth was recorded in 2016 when imports increased by 14% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan prevails in imports structure, amounting to X tons, which was near 89% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), comprising a 6.5% share of total imports. Hong Kong SAR (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved salmon imports into Japan stood at -3.1%. At the same time, Hong Kong SAR (+16.6%) and Taiwan (Chinese) (+15.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.6% from 2012-2021. Taiwan (Chinese) (+5 p.p.) and Hong Kong SAR (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -8.8% from 2012 to 2021, respectively.

In value terms, Japan ($X) constitutes the largest market for imported salmon (prepared or preserved) in Eastern Asia, comprising 84% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 7.6% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to -3.3%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+15.4% per year) and Hong Kong SAR (+17.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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