South-Eastern Asia: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in South-Eastern Asia

The Southeast Asian fish meals and pellet market skyrocketed to $X in 2021, growing by 30% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish in South-Eastern Asia

In value terms, fish meals and pellet production reached $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in South-Eastern Asia

Fish meals and pellet exports reduced to X tons in 2021, declining by -12.4% against the previous year's figure. In general, exports showed a slight reduction. The most prominent rate of growth was recorded in 2017 with an increase of 205% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, fish meals and pellet exports declined to $X in 2021. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 237% against the previous year. The level of export peaked at $X in 2020, and then declined in the following year.

Exports by Country

Myanmar (X tons) and Indonesia (X tons) dominates exports structure, together making up 81% of total exports. Vietnam (X tons) ranks next in terms of the total exports with a 9.5% share, followed by Malaysia (5.1%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +39.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the largest fish meals and pellet supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total exports. It was followed by Myanmar, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value in Indonesia totaled +10.1%. In the other countries, the average annual rates were as follows: Vietnam (+27.4% per year) and Myanmar (+15.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, increasing by 2.8% against the previous year. Over the period under review, the export price showed strong growth. The most prominent rate of growth was recorded in 2020 when the export price increased by 66%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+23.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in South-Eastern Asia

In 2021, the amount of flours, meals and pellets of fish imported in South-Eastern Asia reached X tons, picking up by 2% against the year before. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% 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 +20.5% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 50%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, fish meals and pellet imports rose to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 -15.0% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia dominates imports structure, resulting at X tons, which was approx. 72% of total imports in 2021. Brunei Darussalam (X tons) held an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Myanmar (6.4%). Singapore (X tons), Vietnam (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet imports into Malaysia stood at +21.7%. At the same time, Brunei Darussalam (+25.4%), Vietnam (+12.3%), Myanmar (+10.4%), Lao People's Democratic Republic (+7.7%) and Indonesia (+5.7%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +25.4% from 2012-2021. By contrast, Singapore (-16.0%) illustrated a downward trend over the same period. Malaysia (+49 p.p.) and Brunei Darussalam (+6.7 p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by -28.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported flours, meals and pellets of fish in South-Eastern Asia, comprising 51% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Indonesia, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia amounted to +24.5%. In the other countries, the average annual rates were as follows: Singapore (-10.9% per year) and Indonesia (+10.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, leveling off at the previous year. Overall, the import price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by 28%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the 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 Indonesia ($X per ton), while Brunei Darussalam ($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 (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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