Eastern Asia: Preserved Tuna Market 2024

Preserved Tuna Market Size in Eastern Asia

In 2021, the East Asian preserved tuna market decreased by -1.6% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Preserved Tuna Production in Eastern Asia

In value terms, preserved tuna production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 19%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Preserved Tuna Exports

Exports in Eastern Asia

In 2021, after four years of growth, there was decline in overseas shipments of tuna (prepared or preserved), when their volume decreased by less than 0.1% to X tons. Over the period under review, exports, however, showed resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 29%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, preserved tuna exports surged to $X in 2021. Overall, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 33%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 97% of total exports in 2021. South Korea (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +10.1% from 2012 to 2021. At the same time, South Korea (+12.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +12.4% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest preserved tuna supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at +9.4%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 21% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($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 South Korea (+2.0%).

Preserved Tuna Imports

Imports in Eastern Asia

After seven years of growth, purchases abroad of tuna (prepared or preserved) decreased by -0.3% to X tons in 2021. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 8.4%. The volume of import peaked at X tons in 2020, and then declined modestly in the following year.

In value terms, preserved tuna imports shrank slightly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 15% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan prevails in imports structure, accounting for X tons, which was near 85% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), creating a 6.1% share of total imports. The following importers - China (X tons), Hong Kong SAR (X tons) and South Korea (X tons) - together made up 8.9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved tuna imports into Japan stood at +2.0%. At the same time, South Korea (+9.2%), China (+7.2%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +9.2% from 2012-2021. By contrast, Hong Kong SAR (-1.8%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported tuna (prepared or preserved) in Eastern Asia, comprising 88% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.8% share of total imports. It was followed by China, with a 3.7% share.

In Japan, preserved tuna imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.9% per year) and China (+6.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, waning by -3% against the previous year. In general, the import price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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) (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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