South-Eastern Asia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in South-Eastern Asia

In 2021, after five years of growth, there was significant decline in the Southeast Asian preserved anchovies market, when its value decreased by -6.4% to $X. Overall, consumption, however, posted noticeable growth. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Preserved Anchovies Production in South-Eastern Asia

In value terms, preserved anchovies production fell to $X in 2021 estimated in export price. In general, production, however, showed a temperate increase. The growth pace was the most rapid in 2018 when the production volume increased by 64% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Preserved Anchovies Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of anchovies (prepared or preserved) decreased by -0.2% to X tons, falling for the fifth year in a row after five years of growth. Over the period under review, exports, however, continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of 79% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, preserved anchovies exports skyrocketed to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +12.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -2.3% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 113%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Thailand (X tons) and Vietnam (X tons) were the main exporters of anchovies (prepared or preserved) in South-Eastern Asia, together creating 69% of total exports. Indonesia (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (12%) and the Philippines (5.3%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +41.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest preserved anchovies supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Thailand ($X), with a 27% share of total exports. It was followed by Malaysia, with a 7.3% share.

In Vietnam, preserved anchovies exports increased at an average annual rate of +41.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.0% per year) and Malaysia (+3.2% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, rising by 25% against the previous year. In general, the export price showed resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 28% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of anchovies (prepared or preserved) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a mild setback. The pace of growth was the most pronounced in 2016 with an increase of 121% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, preserved anchovies imports soared to $X in 2021. Total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.3% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 68% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Thailand was the major importing country with an import of about X tons, which finished at 47% of total imports. It was distantly followed by the Philippines (X tons), Singapore (X tons) and Malaysia (X tons), together making up a 47% share of total imports. Brunei Darussalam (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the anchovies (prepared or preserved) imports, with a CAGR of +33.3% from 2012 to 2021. At the same time, the Philippines (+12.4%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Brunei Darussalam (-1.4%), Singapore (-3.3%) and Malaysia (-21.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and the Philippines increased by +44 and +14 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, with a combined 87% share of total imports.

Among the main importing countries, Thailand, with a CAGR of +23.4%, saw the highest rates of growth with regard to 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 2021, the import price in South-Eastern Asia amounted to $X per ton, dropping by -22.9% against the previous year. Import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 an increase of 29%. Over the period under review, import prices reached the peak figure at $X per ton in 2020, and then declined sharply in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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