Indonesia: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Indonesia

For the third consecutive year, the Indonesian frozen fish meat market recorded growth in sales value, which increased by 438% to $X in 2021. Over the period under review, consumption continues to indicate a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Fish Meat Production in Indonesia

In value terms, frozen fish meat production shrank slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +2.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 51% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Frozen Fish Meat Exports

Exports from Indonesia

In 2021, shipments abroad of frozen fish meat decreased by -25.6% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a pronounced slump. The most prominent rate of growth was recorded in 2015 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, frozen fish meat exports declined notably to $X in 2021. Over the period under review, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 10%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), South Korea (X tons) and China (X tons) were the main destinations of frozen fish meat exports from Indonesia, with a combined 59% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +28.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X) remains the key foreign market for frozen fish meat exports from Indonesia, comprising 29% of total exports. The second position in the ranking was taken by Japan ($X), with a 13% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-11.5% per year) and South Korea (-5.4% per year).

Export Prices by Country

In 2021, the average frozen fish meat export price amounted to $X per ton, increasing by 8.2% against the previous year. In general, the export price, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Vietnam ($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 China (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into Indonesia

Frozen fish meat imports into Indonesia soared to X tons in 2021, jumping by 91% against 2020 figures. Overall, imports showed a prominent expansion. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen fish meat imports surged to $X in 2021. In general, imports enjoyed a strong expansion. The growth pace was the most rapid in 2016 with an increase of 99%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest frozen fish meat supplier to Indonesia, accounting for a 73% share of total imports. Moreover, frozen fish meat imports from Vietnam exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. China (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+38.3% per year) and China (+34.6% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen fish meat to Indonesia, comprising 70% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by China, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam amounted to +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+46.1% per year) and China (+37.8% per year).

Import Prices by Country

The average frozen fish meat import price stood at $X per ton in 2021, shrinking by -8.4% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen fish meat import price decreased by -27.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 51%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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