New Zealand: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in New Zealand

The New Zealand inedible fish products market fell to $X in 2022, which is down by -11.7% against the previous year. Overall, consumption, however, recorded a modest expansion. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in New Zealand

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 73%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Inedible Fish Products Exports

Exports from New Zealand

In 2022, overseas shipments of inedible fish products increased by 9.3% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 37% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, inedible fish products exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 76% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Australia (X tons), Malaysia (X tons) and Germany (X tons) were the main destinations of inedible fish products exports from New Zealand, together accounting for 87% of total exports. The United States, Canada, New Caledonia and Cook Islands lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +34.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inedible fish products exported from New Zealand were Malaysia ($X), Australia ($X) and Germany ($X), with a combined 72% share of total exports. The United States, Canada, Cook Islands and New Caledonia lagged somewhat behind, together accounting for a further 10%.

Canada, with a CAGR of +7.8%, recorded the highest growth rate of the value of exports, among 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, picking up by 23% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 53% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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 Cook Islands ($X per ton), while the average price for exports to Australia ($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 the United States (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into New Zealand

In 2022, supplies from abroad of inedible fish products decreased by -28.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 54% against the previous year. Imports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, inedible fish products imports dropped sharply to $X in 2022. Overall, imports recorded a perceptible setback. The growth pace was the most rapid in 2020 with an increase of 31%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of inedible fish products to New Zealand, with a 45% share of total imports. Moreover, inedible fish products imports from China exceeded the figures recorded by the second-largest supplier, Fiji (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +34.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Fiji (+22.0% per year) and Malaysia (+2.9% per year).

In value terms, China ($X) constituted the largest supplier of inedible fish products to New Zealand, comprising 57% of total imports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total imports. It was followed by Chile, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.5% per year) and Chile (-8.7% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, rising by 13% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 15%. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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