South-Eastern Asia: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in South-Eastern Asia

The Southeast Asian inedible fish products market shrank dramatically to $X in 2022, waning by -17.3% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in South-Eastern Asia

In value terms, inedible fish products production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 69% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports in South-Eastern Asia

In 2022, the amount of inedible fish products exported in South-Eastern Asia fell to X tons, reducing by -14.9% on the year before. In general, exports, however, saw strong growth. The pace of growth was the most pronounced in 2018 with an increase of 87% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, inedible fish products exports expanded modestly to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2019 when exports increased by 68% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam represented the key exporting country with an export of about X tons, which finished at 59% of total exports. It was distantly followed by Singapore (X tons), Indonesia (X tons), Cambodia (X tons) and Thailand (X tons), together committing a 39% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +12.5% from 2012 to 2022. At the same time, Cambodia (+58.4%), Malaysia (+9.2%), Thailand (+8.9%) and Indonesia (+2.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +58.4% from 2012-2022. By contrast, Singapore (-1.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Cambodia increased by +18 and +9.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest inedible fish products supplying countries in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 85% of total exports. Singapore, Cambodia and Malaysia lagged somewhat behind, together comprising a further 15%.

Cambodia, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 22% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 76% 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 somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Cambodia ($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 (+8.9%), while the other leaders experienced more modest paces of growth.

Inedible Fish Products Imports

Imports in South-Eastern Asia

In 2022, the amount of inedible fish products imported in South-Eastern Asia fell significantly to X tons, with a decrease of -63.1% against 2021 figures. In general, imports, however, posted a noticeable expansion. The pace of growth was the most pronounced in 2021 with an increase of 223%. As a result, imports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, inedible fish products imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 36% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Thailand represented the main importer of inedible fish products in South-Eastern Asia, with the volume of imports reaching X tons, which was approx. 64% of total imports in 2022. Singapore (X tons) ranks second in terms of the total imports with a 20% share, followed by Indonesia (7.3%) and Vietnam (6.1%). Malaysia (X tons) held a relatively small share of total imports.

Thailand was also the fastest-growing in terms of the inedible fish products imports, with a CAGR of +18.6% from 2012 to 2022. At the same time, Indonesia (+16.2%) displayed positive paces of growth. By contrast, Singapore (-2.3%), Malaysia (-5.5%) and Vietnam (-13.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Indonesia increased by +47 and +5 percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 86% share of total imports.

Indonesia, with a CAGR of +14.6%, recorded the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per ton in 2022, surging by 185% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Vietnam ($X per ton), while Thailand ($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 (+20.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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