Japan: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Japan

The Japanese fresh fish fillet market rose remarkably to $X in 2021, growing by 5.6% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Fresh Fish Fillet Production in Japan

In value terms, fresh fish fillet production reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate mild growth. The most prominent rate of growth was recorded in 2016 with an increase of 26%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Fresh Fish Fillet Exports

Exports from Japan

Fresh fish fillet exports from Japan skyrocketed to X tons in 2021, rising by 40% on 2020 figures. The total export volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh fish fillet exports surged to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached 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 fresh fish fillet exports from Japan, with a 47% share of total exports. Moreover, fresh fish fillet exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+20.6% per year) and Taiwan (Chinese) (+17.5% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and Singapore ($X) were the largest markets for fresh fish fillet exported from Japan worldwide, together accounting for 70% of total exports. Taiwan (Chinese), Thailand, China, Canada and the UK lagged somewhat behind, together accounting for a further 23%.

China, with a CAGR of +51.6%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average fresh fish fillet export price amounted to $X per ton, increasing by 7.6% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet export price increased by +71.0% against 2013 indices. The most prominent rate of growth was recorded in 2020 an increase of 24%. The export price peaked in 2021 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 China ($X per ton), while the average price for exports to the UK ($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 Taiwan (Chinese) (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Japan

In 2021, the amount of fresh or chilled fish fillets imported into Japan soared to X tons, jumping by 22% against the previous year. In general, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet imports skyrocketed to $X in 2021. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 35% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Norway (X tons) was the main supplier of fresh fish fillet to Japan, with a 93% share of total imports. Moreover, fresh fish fillet imports from Norway exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Norway stood at +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.7% per year) and South Korea (-18.4% per year).

In value terms, Norway ($X) constituted the largest supplier of fresh or chilled fish fillets to Japan, comprising 92% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway totaled +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-2.7% per year) and South Korea (-17.9% per year).

Import Prices by Country

In 2021, the average fresh fish fillet import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2016 an increase of 12%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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