Malaysia: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Malaysia

The Malaysian inedible fish products market dropped slightly to $X in 2022, declining by -3.5% against the previous year. Over the period under review, consumption saw a perceptible setback. Inedible fish products consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in Malaysia

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. In general, production saw a noticeable setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 82%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports from Malaysia

After three years of decline, shipments abroad of inedible fish products increased by 27% to X tons in 2022. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 230%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports expanded remarkably to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 426%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for inedible fish products exports from Malaysia, with a 72% share of total exports. Moreover, inedible fish products exports to Thailand exceeded the volume sent to the second major destination, New Zealand (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+18.3% per year) and Australia (+3.8% per year).

In value terms, New Zealand ($X), Thailand ($X) and Japan ($X) constituted the largest markets for inedible fish products exported from Malaysia worldwide, together comprising 73% of total exports.

Japan, with a CAGR of +57.9%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average inedible fish products export price stood at $X per ton in 2022, which is down by -17.2% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2013 when the average export price increased by 60%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($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 Australia (-0.8%), while the prices for the other major destinations experienced a decline.

Inedible Fish Products Imports

Imports into Malaysia

In 2022, supplies from abroad of inedible fish products decreased by -1% to X tons, falling for the third year in a row after two years of growth. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 238% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, inedible fish products imports contracted slightly to $X in 2022. Overall, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2014 when imports increased by 350%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Mauritius (X tons) constituted the largest supplier of inedible fish products to Malaysia, with a 46% share of total imports. Moreover, inedible fish products imports from Mauritius exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Denmark (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mauritius stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+43.7% per year) and Denmark (-1.8% per year).

In value terms, Mauritius ($X), China ($X) and Denmark ($X) constituted the largest inedible fish products suppliers to Malaysia, with a combined 69% share of total imports. New Zealand, South Korea, Indonesia, Hong Kong SAR, Vietnam, India and Spain lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, New Zealand, with a CAGR of +27.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, reducing by -2.4% against the previous year. In general, the import price saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 53%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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