Indonesia: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Indonesia

After four years of decline, the Indonesian market for fish fillets and other fish meat increased by 105% to $X in 2022. In general, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Fish Fillets and Other Fish Meat in Indonesia

In value terms, production of fish fillets and other fish meat fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 14%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Fish Fillets and Other Fish Meat

Exports from Indonesia

After four years of growth, overseas shipments of fish fillets and other fish meat decreased by -0.6% to X tons in 2022. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 9.9%. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, exports of fish fillets and other fish meat skyrocketed to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +106.3% against 2013 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of fish fillets and other fish meat from Indonesia, with a 30% share of total exports. Moreover, exports of fish fillets and other fish meat to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.4% per year) and Italy (+28.5% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Indonesia, comprising 45% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total exports. It was followed by Italy, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+3.0% per year) and Italy (+27.7% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, with an increase of 23% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Indonesia

In 2022, imports of fish fillets and other fish meat into Indonesia soared to X tons, rising by 16% compared with 2021. Overall, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 139%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, imports of fish fillets and other fish meat soared to $X in 2022. In general, imports recorded prominent growth. The growth pace was the most rapid in 2016 when imports increased by 115% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of fish fillets and other fish meat to Indonesia, accounting for a 50% share of total imports. Moreover, imports of fish fillets and other fish meat from Vietnam exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+165.2% per year) and India (+42.2% per year).

In value terms, Vietnam ($X) constituted the largest supplier of fish fillets and other fish meat to Indonesia, comprising 36% of total imports. The second position in the ranking was held by Canada ($X), with a 15% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+129.8% per year) and the United States (+8.5% per year).

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, growing by 49% against the previous year. Overall, the import price showed a temperate expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Pakistan ($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 (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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