South-Eastern Asia: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in South-Eastern Asia

The Southeast Asian frozen fish meat market surged to $X in 2021, with an increase of 43% against the previous year. Over the period under review, consumption, however, recorded resilient growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Frozen Fish Meat Production in South-Eastern Asia

In value terms, frozen fish meat production reached $X in 2021 estimated in export price. In general, production, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Frozen Fish Meat Exports

Exports in South-Eastern Asia

Frozen fish meat exports expanded notably to X tons in 2021, surging by 9.1% against the previous year. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 12% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen fish meat exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam represented the major exporting country with an export of about X tons, which reached 75% of total exports. Thailand (X tons) took the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. 19% share of total exports. The Philippines (X tons) and Malaysia (X tons) took a minor share of total exports.

Vietnam experienced a relatively flat trend pattern with regard to volume of exports of frozen fish meat. At the same time, the Philippines (+87.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +87.4% from 2012-2021. By contrast, Indonesia (-4.5%), Malaysia (-5.8%) and Thailand (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and the Philippines increased by +10 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen fish meat supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports. It was followed by Indonesia, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam totaled +3.7%. In the other countries, the average annual rates were as follows: Thailand (-5.7% per year) and Indonesia (-8.3% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 6.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.8%), while the other leaders experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports in South-Eastern Asia

In 2021, the amount of frozen fish meat imported in South-Eastern Asia surged to X tons, jumping by 23% against the previous year. Over the period under review, imports showed a prominent increase. The growth pace was the most rapid in 2017 with an increase of 31%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, frozen fish meat imports surged to $X in 2021. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

Thailand was the largest importing country with an import of around X tons, which accounted for 56% of total imports. Malaysia (X tons) took a 26% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (8.7%). Vietnam (X tons), Indonesia (X tons) and Singapore (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of +18.7% from 2012 to 2021. At the same time, Singapore (+19.2%), Malaysia (+17.4%), Indonesia (+9.9%) and the Philippines (+2.2%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +19.2% from 2012-2021. By contrast, Vietnam (-8.6%) illustrated a downward trend over the same period. While the share of Thailand (+15 p.p.), the Philippines (+8.7 p.p.) and Malaysia (+5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-26.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Malaysia ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2021, with a combined 91% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +30.4%, 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, with an increase of 1.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+27.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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