South-Eastern Asia: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in South-Eastern Asia

In 2021, after three years of decline, there was significant growth in the Southeast Asian dried or salted fish market, when its value increased by 11% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Dried Or Salted Fish in South-Eastern Asia

In value terms, dried or salted fish production stood at $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Dried Or Salted Fish

Exports in South-Eastern Asia

In 2021, dried or salted fish exports in South-Eastern Asia dropped rapidly to X tons, which is down by -29.7% on 2020 figures. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, dried or salted fish exports fell significantly to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 32% against the previous year. As a result, the exports attained the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Vietnam represented the largest exporter of dried or salted fish in South-Eastern Asia, with the volume of exports finishing at X tons, which was near 60% of total exports in 2021. Thailand (X tons) ranks second in terms of the total exports with a 23% share, followed by Myanmar (5.7%), Indonesia (4.9%) and Malaysia (4.7%).

Vietnam was also the fastest-growing in terms of the dried or salted fish exports, with a CAGR of +16.4% from 2012 to 2021. At the same time, Myanmar (+14.5%) displayed positive paces of growth. By contrast, Malaysia (-3.3%), Thailand (-13.9%) and Indonesia (-14.2%) illustrated a downward trend over the same period. While the share of Vietnam (+48 p.p.) and Myanmar (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-9.7 p.p.) and Thailand (-43.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest dried or salted fish supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by Myanmar, with a 6.6% share.

In Vietnam, dried or salted fish exports increased at an average annual rate of +13.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-10.9% per year) and Myanmar (+15.2% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, rising by 6% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or salted fish export price decreased by -13.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the export price increased by 21%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Salted Fish

Imports in South-Eastern Asia

In 2021, supplies from abroad of dried or salted fish increased by 29% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, dried or salted fish imports rose significantly to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 14%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia represented the key importing country with an import of around X tons, which reached 71% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 10% share, followed by Thailand (9.9%) and Singapore (6.5%).

Malaysia was also the fastest-growing in terms of the dried or salted fish imports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Singapore (+10.5%) and Indonesia (+1.4%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Malaysia and Singapore increased by +36 and +3 percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported dried or salted fish in South-Eastern Asia, comprising 65% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by Indonesia, with an 8.3% share.

In Malaysia, dried or salted fish imports expanded at an average annual rate of +4.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (+3.6% per year) and Indonesia (-0.4% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, shrinking by -12.1% against the previous year. Overall, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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