South-Eastern Asia: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in South-Eastern Asia

The Southeast Asian market for caviar (salmon) and caviar substitutes rose rapidly to $X in 2021, with an increase of 12% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Caviar (Salmon) And Caviar Substitutes in South-Eastern Asia

In value terms, caviar (salmon) and caviar substitutes production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 22%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in South-Eastern Asia

In 2021, overseas shipments of caviar (salmon) and caviar substitutes were finally on the rise to reach X tons after three years of decline. In general, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2014 when exports increased by 30%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes exports soared to $X in 2021. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 75%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia represented the key exporter of caviar (salmon) and caviar substitutes in South-Eastern Asia, with the volume of exports accounting for X tons, which was near 69% of total exports in 2021. It was distantly followed by Thailand (X tons) and Vietnam (X tons), together achieving a 28% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of -9.5% from 2012 to 2021. At the same time, Vietnam (+30.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +30.8% from 2012-2021. By contrast, Singapore (-10.7%) and Thailand (-21.9%) illustrated a downward trend over the same period. Indonesia (+21 p.p.) and Vietnam (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -30% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest caviar (salmon) and caviar substitutes supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.5% share of total exports. It was followed by Vietnam, with a 7.5% share.

In Indonesia, caviar (salmon) and caviar substitutes exports plunged by an average annual rate of -7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-14.3% per year) and Vietnam (+36.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 19% against the previous year. In general, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2017 when the export price increased by 71% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while Thailand ($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 (+9.7%), while the other leaders experienced more modest paces of growth.

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas purchases of caviar (salmon) and caviar substitutes, which increased by 29% to X tons in 2021. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 93%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, caviar (salmon) and caviar substitutes imports soared to $X in 2021. Overall, imports recorded significant growth. The growth pace was the most rapid in 2013 when imports increased by 108%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Thailand was the main importing country with an import of about X tons, which accounted for 48% of total imports. Singapore (X tons) ranks second in terms of the total imports with a 24% share, followed by Malaysia (15%) and Vietnam (7.9%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to caviar (salmon) and caviar substitutes imports into Thailand stood at +27.0%. At the same time, Singapore (+31.6%), Indonesia (+23.4%), Vietnam (+15.5%) and Malaysia (+7.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +31.6% from 2012-2021. Thailand (+17 p.p.) and Singapore (+13 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam and Malaysia saw its share reduced by -4.1% and -28% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, with a combined 91% share of total imports. Vietnam and Indonesia lagged somewhat behind, together accounting for a further 8%.

In terms of the main importing countries, Indonesia, with a CAGR of +60.4%, 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 2021, the import price in South-Eastern Asia amounted to $X per ton, jumping by 21% against the previous year. Import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 55% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+30.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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