South-Eastern Asia: Fish Parts Market 2024

Fish Parts Market Size in South-Eastern Asia

In 2022, the Southeast Asian fish parts market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, enjoyed moderate growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fish Parts Production in South-Eastern Asia

In value terms, fish parts production rose notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 37%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Fish Parts Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in overseas shipments of fish heads, tails and maws, which increased by 23% to X tons in 2022. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 36%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, fish parts exports surged to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +113.5% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam was the largest exporting country with an export of about X tons, which recorded 72% of total exports. Indonesia (X tons) held the second position in the ranking, followed by Singapore (X tons). All these countries together held approx. 21% share of total exports. Malaysia (X tons) and Thailand (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the fish heads, tails and maws exports, with a CAGR of +23.8% from 2012 to 2022. At the same time, Malaysia (+21.1%) and Indonesia (+10.2%) displayed positive paces of growth. By contrast, Thailand (-7.0%) and Singapore (-8.4%) illustrated a downward trend over the same period. While the share of Vietnam (+67 p.p.), Indonesia (+9.5 p.p.) and Malaysia (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest fish parts supplier in South-Eastern Asia, comprising 56% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 23% share of total exports. It was followed by Singapore, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +31.5%. In the other countries, the average annual rates were as follows: Indonesia (+14.1% per year) and Singapore (-8.5% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 19% against the previous year. In general, the export price posted a prominent expansion. The growth pace was the most rapid in 2013 an increase of 42%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.3%), while the other leaders experienced more modest paces of growth.

Fish Parts Imports

Imports in South-Eastern Asia

Fish parts imports dropped remarkably to X tons in 2022, which is down by -15.2% compared with 2021. Over the period under review, imports recorded a perceptible descent. The pace of growth was the most pronounced in 2018 when imports increased by 62%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, fish parts imports expanded markedly to $X in 2022. Overall, imports recorded a noticeable decline. The growth pace was the most rapid in 2015 with an increase of 34%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam was the main importer of fish heads, tails and maws in South-Eastern Asia, with the volume of imports accounting for X tons, which was approx. 52% of total imports in 2022. Singapore (X tons) ranks second in terms of the total imports with a 31% share, followed by Thailand (15%). Malaysia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of -0.7%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Singapore ($X) constitutes the largest market for imported fish heads, tails and maws in South-Eastern Asia, comprising 66% of total imports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total imports. It was followed by Thailand, with a 14% share.

In Singapore, fish parts imports shrank by an average annual rate of -4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (-0.6% per year) and Thailand (+2.3% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 24% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the import price increased by 26% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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