Japan: Preserved Herring Market 2024

Preserved Herring Market Size in Japan

After two years of growth, the Japanese preserved herring market decreased by -4% to $X in 2021. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Preserved Herring Production in Japan

In value terms, preserved herring production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 19% against the previous year. Preserved herring production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Preserved Herring Exports

Exports from Japan

In 2021, overseas shipments of herrings (prepared or preserved) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 64%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for preserved herring exports from Japan, accounting for a 35% share of total exports. Moreover, preserved herring exports to Vietnam exceeded the volume sent to the second major destination, Cambodia (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+81.8% per year) and Taiwan (Chinese) (-11.3% per year).

In value terms, Vietnam ($X) remains the key foreign market for herrings (prepared or preserved) exports from Japan, comprising 35% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 16% share of total exports. It was followed by Cambodia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-11.1% per year) and Cambodia (+59.8% per year).

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, flattening at the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 8.6%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and South Korea ($X per ton), while the average price for exports to Thailand ($X per ton) and Cambodia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Japan

In 2021, supplies from abroad of herrings (prepared or preserved) decreased by -5.9% to X tons, falling for the third consecutive year after two years of growth. In general, imports saw a deep reduction. The pace of growth was the most pronounced in 2018 when imports increased by 7.2%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved herring imports dropped to $X in 2021. Overall, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest preserved herring supplier to Japan, with a 89% share of total imports. Moreover, preserved herring imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume from China totaled -7.4%.

In value terms, China ($X) constituted the largest supplier of herrings (prepared or preserved) to Japan, comprising 85% of total imports. The second position in the ranking was taken by Thailand ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -7.6%.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, approximately equating the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 11%. As a result, import price attained the peak level of $X per ton. From 2014 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 country with the highest price was Thailand ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.0%).

Source: IndexBox Platform

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