South-Eastern Asia: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in South-Eastern Asia

In 2021, after two years of growth, there was decline in the Southeast Asian frozen cuttlefishes market, when its value decreased by -4.1% to $X. In general, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Production in South-Eastern Asia

In value terms, frozen cuttlefishes production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 12% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then dropped in the following year.

Frozen Cuttlefishes Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of frozen cuttlefishes increased by 0.8% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 8.4%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports expanded slightly to $X in 2021. Overall, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 23%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Vietnam (X tons) represented the key exporter of frozen cuttlefishes, generating 79% of total exports. It was distantly followed by the Philippines (X tons), generating a 13% share of total exports. The following exporters - Malaysia (X tons) and Indonesia (X tons) - together made up 5.1% of total exports.

From 2012 to 2021, average annual rates of growth with regard to frozen cuttlefishes exports from Vietnam stood at -4.0%. The Philippines (-3.7%), Malaysia (-29.0%) and Indonesia (-38.8%) illustrated a downward trend over the same period. While the share of Vietnam (+59 p.p.) and the Philippines (+9.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-7.9 p.p.) and Indonesia (-29.8 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest frozen cuttlefishes supplier in South-Eastern Asia, comprising 77% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 12% share of total exports. It was followed by Indonesia, with a 2.8% share.

In Vietnam, frozen cuttlefishes exports plunged by an average annual rate of -6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (-1.3% per year) and Indonesia (-28.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, increasing by 2.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2017 when the export price increased by 29% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+17.5%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of frozen cuttlefishes increased by 3.1% to X tons, rising for the second consecutive year after four years of decline. Overall, imports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2015 when imports increased by 21% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen cuttlefishes imports rose significantly to $X in 2021. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 19%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The Philippines was the largest importer of frozen cuttlefishes in South-Eastern Asia, with the volume of imports reaching X tons, which was near 74% of total imports in 2021. It was distantly followed by Thailand (X tons) and Malaysia (X tons), together committing a 23% share of total imports. Singapore (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of +10.3% from 2012 to 2021. Malaysia (-13.9%), Singapore (-14.1%) and Thailand (-21.2%) illustrated a downward trend over the same period. The Philippines (+65 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -25% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, with a combined 96% share of total imports.

The Philippines, with a CAGR of +4.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, increasing by 4.6% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2017 when the import price increased by 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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