Japan: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Japan

In 2021, the Japanese preserved mackerel market decreased by -16.6% to $X, falling for the third year in a row after three years of growth. Over the period under review, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -26.4% against 2018 indices. Preserved mackerel consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Mackerel Production in Japan

In value terms, preserved mackerel production fell significantly to $X in 2021 estimated in export price. Overall, production continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2020 with an increase of 115% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Preserved Mackerel Exports

Exports from Japan

In 2021, exports of mackerel (prepared or preserved) from Japan shrank significantly to X tons, declining by -26.2% on the previous year's figure. Over the period under review, exports recorded a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, preserved mackerel exports dropped rapidly to $X in 2021. Overall, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2016 when exports increased by 38% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), New Zealand (X tons) and Micronesia (X tons) were the main destinations of preserved mackerel exports from Japan, together accounting for 49% 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 the United States (with a CAGR of +13.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for mackerel (prepared or preserved) exports from Japan, comprising 33% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 9.7% share of total exports. It was followed by Micronesia, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+8.1% per year) and Micronesia (+5.9% per year).

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 20%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average 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 Cambodia ($X per ton), while the average price for exports to New Zealand ($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 Cambodia (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Japan

In 2021, purchases abroad of mackerel (prepared or preserved) decreased by -1.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by 98%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved mackerel imports declined to $X in 2021. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 77%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Vietnam (X tons) were the main suppliers of preserved mackerel imports to Japan, together accounting for 92% of total imports. The Philippines lagged somewhat behind, comprising a further 7.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +193.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved mackerel suppliers to Japan were China ($X), Vietnam ($X) and Thailand ($X), with a combined 95% share of total imports. These countries were followed by the Philippines, which accounted for a further 4%.

The Philippines, with a CAGR of +184.1%, 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

The average preserved mackerel import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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