South-Eastern Asia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in South-Eastern Asia

The Southeast Asian frozen fish and seafood market expanded markedly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Production of Frozen Fish And Seafood in South-Eastern Asia

In value terms, frozen fish and seafood production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports in South-Eastern Asia

Frozen fish and seafood exports soared to X tons in 2022, jumping by X% compared with 2021 figures. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam was the key exporting country with an export of about X tons, which resulted at X% of total exports. Indonesia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%). Myanmar (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen fish and seafood exports from Vietnam stood at X%. At the same time, Myanmar (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia, Thailand and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

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

In Vietnam, frozen fish and seafood exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a pronounced downturn. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Fish And Seafood

Imports in South-Eastern Asia

In 2022, purchases abroad of frozen fish and seafood increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, frozen fish and seafood imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the key importer of frozen fish and seafood in South-Eastern Asia, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Vietnam (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%), the Philippines (X%) and Indonesia (X%). Singapore (X tons) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of frozen fish and seafood. At the same time, Malaysia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), Thailand (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish and seafood importing markets in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total imports. The Philippines, Singapore and Indonesia lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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