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

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

In 2021, the Southeast Asian dried or smoked fish market increased by 5.1% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Production of Dried Or Smoked Fish in South-Eastern Asia

In value terms, dried or smoked fish production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 12% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Exports of Dried Or Smoked Fish

Exports in South-Eastern Asia

In 2021, exports of dried or smoked fish in South-Eastern Asia reduced remarkably to X tons, waning by -21% compared with the previous year. Over the period under review, exports saw a deep reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, dried or smoked fish exports reduced to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 increased by +53.5% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. The level of export peaked at $X in 2020, and then dropped in the following year.

Exports by Country

Vietnam (X tons) and Thailand (X tons) represented roughly 72% of total exports in 2021. It was distantly followed by Indonesia (X tons), making up a 17% share of total exports. Malaysia (X tons), Myanmar (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +11.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest dried or smoked fish supplier in South-Eastern Asia, comprising 51% of total exports. The second position in the ranking was held by Indonesia ($X), with a 22% share of total exports. It was followed by Thailand, with a 12% share.

In Vietnam, dried or smoked fish exports expanded at an average annual rate of +17.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-1.7% per year) and Thailand (-7.8% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 14% against the previous year. Over the period under review, the export price posted a prominent increase. The growth pace was the most rapid in 2019 when the export price increased by 23%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Myanmar ($X per ton), while Thailand ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports in South-Eastern Asia

In 2021, dried or smoked fish imports in South-Eastern Asia soared to X tons, rising by 39% compared with the year before. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, dried or smoked fish imports surged to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the main importer of dried or smoked fish in South-Eastern Asia, with the volume of imports accounting for X tons, which was approx. 70% of total imports in 2021. It was distantly followed by Singapore (X tons), Thailand (X tons) and Vietnam (X tons), together generating a 27% share of total imports. Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to dried or smoked fish imports into Malaysia stood at +17.2%. At the same time, Vietnam (+27.6%), Brunei Darussalam (+21.1%) and Thailand (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +27.6% from 2012-2021. By contrast, Singapore (-4.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia and Vietnam increased by +31 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 88% of total imports. Thailand and Brunei Darussalam lagged somewhat behind, together comprising a further 10%.

In terms of the main importing countries, Brunei Darussalam, with a CAGR of +23.4%, 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, shrinking by -5.5% against the previous year. In general, the import price saw a deep downturn. The pace of growth was the most pronounced in 2019 an increase of 18%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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