Japan: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Japan

The Japanese inedible fish products market fell to $X in 2022, with a decrease of -10.3% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Inedible fish products consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in Japan

In value terms, inedible fish products production dropped to $X in 2022 estimated in export price. Overall, production, however, saw slight growth. The most prominent rate of growth was recorded in 2013 with an increase of 89% against the previous year. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports from Japan

In 2022, shipments abroad of inedible fish products increased by 802% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a notable expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, inedible fish products exports surged to $X in 2022. In general, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 79%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X tons) was the main destination for inedible fish products exports from Japan, with a 85% share of total exports. Moreover, inedible fish products exports to Thailand exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +88.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+90.2% per year) and the United States (-16.1% per year).

In value terms, Thailand ($X) emerged as the key foreign market for inedible fish products exports from Japan, comprising 53% of total exports. The second position in the ranking was taken by the United States ($X), with a 24% share of total exports. It was followed by South Korea, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand stood at +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-17.7% per year) and South Korea (+13.6% per year).

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, falling by -84.9% against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 192%. As a result, the export price reached the peak level of $X per ton, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+54.9%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Japan

For the third consecutive year, Japan recorded decline in purchases abroad of inedible fish products, which decreased by -23% to X tons in 2022. Overall, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports contracted dramatically to $X in 2022. Over the period under review, imports showed a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 59% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of inedible fish products imports to Japan, with a combined 95% share of total imports. Thailand and the United States lagged somewhat behind, together comprising a further 1.9%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +2.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest inedible fish products suppliers to Japan were China ($X), South Korea ($X) and Indonesia ($X), with a combined 83% share of total imports.

South Korea, with a CAGR of +2.7%, recorded the highest rates of growth with regard to 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

The average inedible fish products import price stood at $X per ton in 2022, surging by 10% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products import price increased by +45.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 32% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+43.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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