Japan: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Japan

In 2021, the Japanese preserved anchovies market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a noticeable setback. Preserved anchovies consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Preserved Anchovies Production in Japan

In value terms, preserved anchovies production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of 42%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Preserved Anchovies Exports

Exports from Japan

In 2021, the amount of anchovies (prepared or preserved) exported from Japan soared to X tons, picking up by 80% compared with 2020 figures. Over the period under review, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, preserved anchovies exports surged to $X in 2021. Overall, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons), the United States (X tons) and Hong Kong SAR (X tons) were the main destinations of preserved anchovies exports from Japan, together accounting for 75% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +98.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved anchovies exported from Japan were the United States ($X), Thailand ($X) and Hong Kong SAR ($X), with a combined 68% share of total exports.

Thailand, with a CAGR of +91.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved anchovies export price stood at $X per ton in 2021, falling by -7.8% against the previous year. In general, the export price saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Thailand ($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 Vietnam (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Japan

In 2021, supplies from abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 44% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports shrank slightly to $X in 2021. In general, imports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 57%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest preserved anchovies supplier to Japan, with a 34% share of total imports. Moreover, preserved anchovies imports from China exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+2.6% per year) and Italy (-7.1% per year).

In value terms, Italy ($X), China ($X) and South Korea ($X) appeared to be the largest preserved anchovies suppliers to Japan, with a combined 58% share of total imports. These countries were followed by Peru, Spain, Albania, Thailand and Morocco, which together accounted for a further 42%.

Albania, with a CAGR of +47.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved anchovies import price amounted to $X per ton, which is down by -8.9% against the previous year. Over the period under review, the import price recorded a slight decrease. The pace of growth was the most pronounced in 2018 an increase of 12%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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