Japan: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Japan

For the fifth consecutive year, the Japanese frozen cuttlefishes market recorded decline in sales value, which decreased by -30.4% to $X in 2021. In general, consumption continues to indicate a dramatic decline. The most prominent rate of growth was recorded in 2016 with an increase of 1.9% against the previous year. Frozen cuttlefishes consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from Japan

In 2021, shipments abroad of frozen cuttlefishes decreased by -13% to X tons, falling for the third consecutive year after two years of growth. In general, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 108%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports shrank modestly to $X in 2021. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 91%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for frozen cuttlefishes exports from Japan, accounting for a 38% share of total exports. Moreover, frozen cuttlefishes exports to Spain exceeded the volume sent to the second major destination, South Africa (X tons), threefold. Peru (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-16.5% per year) and Peru (-14.2% per year).

In value terms, Spain ($X) remains the key foreign market for frozen cuttlefishes exports from Japan, comprising 39% of total exports. The second position in the ranking was held by South Africa ($X), with a 19% share of total exports. It was followed by Vietnam, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-3.6% per year) and Vietnam (-27.0% per year).

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, growing by 12% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 83% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Oman ($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 (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Japan

In 2021, the amount of frozen cuttlefishes imported into Japan fell sharply to X tons, which is down by -28.3% compared with the year before. In general, imports saw a dramatic curtailment. The smallest decline of -7.4% was in 2016. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports shrank markedly to $X in 2021. Overall, imports saw a sharp shrinkage. The pace of growth appeared the most rapid in 2016 when imports increased by 3.3%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of frozen cuttlefishes to Japan, with a 69% share of total imports. Moreover, frozen cuttlefishes imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. Morocco (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Vietnam totaled -21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-40.2% per year) and Morocco (-34.5% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen cuttlefishes to Japan, comprising 47% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam stood at -21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-33.1% per year) and China (-32.1% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, approximately equating the previous year. Overall, the import price recorded buoyant growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 42% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Indonesia ($X per ton), while the price for Taiwan (Chinese) ($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 (+42.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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