India: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in India

In 2021, after two years of growth, there was significant decline in the Indian frozen fish meat market, when its value decreased by -58% to $X. Overall, consumption, however, posted strong growth. Frozen fish meat consumption peaked at $X in 2020, and then fell sharply in the following year.

Frozen Fish Meat Production in India

In value terms, frozen fish meat production rose slightly to $X in 2021 estimated in export price. Overall, production, however, posted a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 41%. Frozen fish meat production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Frozen Fish Meat Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of frozen fish meat, when their volume increased by 13% to X tons. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, frozen fish meat exports skyrocketed to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 41% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for frozen fish meat exports from India, accounting for a 39% share of total exports. Moreover, frozen fish meat exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+47.6% per year) and Taiwan (Chinese) (+0.5% per year).

In value terms, Japan ($X) remains the key foreign market for frozen fish meat exports from India, comprising 34% of total exports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total exports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+51.7% per year) and Taiwan (Chinese) (-0.1% per year).

Export Prices by Country

In 2021, the average frozen fish meat export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 16%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into India

In 2021, purchases abroad of frozen fish meat increased by 27% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a perceptible decrease. The growth pace was the most rapid in 2013 when imports increased by 67%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, frozen fish meat imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 120%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest frozen fish meat supplier to India, with a 76% share of total imports. Moreover, frozen fish meat imports from the United States exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-18.1% per year) and Malaysia (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen fish meat to India, comprising 84% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by Japan, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-18.0% per year) and Japan (+8.4% per year).

Import Prices by Country

In 2021, the average frozen fish meat import price amounted to $X per ton, picking up by 9% against the previous year. Overall, the import price continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 41% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :