South-Eastern Asia: Preserved Salmon Market 2024

Preserved Salmon Market Size in South-Eastern Asia

In 2021, the Southeast Asian preserved salmon market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption showed a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in South-Eastern Asia

In value terms, preserved salmon production rose significantly to $X in 2021 estimated in export price. Over the period under review, production showed a mild setback. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of salmon (prepared or preserved) decreased by -1.4% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 37%. Over the period under review, the exports reached the maximum at X tons in 2020, and then fell in the following year.

In value terms, preserved salmon exports declined modestly to $X in 2021. Total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.2% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 54%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Thailand represented the main exporter of salmon (prepared or preserved) in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. 74% of total exports in 2021. It was distantly followed by Vietnam (X tons), comprising a 25% share of total exports.

Exports from Thailand increased at an average annual rate of +1.6% from 2012 to 2021. At the same time, Vietnam (+13.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +13.3% from 2012-2021. From 2012 to 2021, the share of Vietnam increased by +14 percentage points.

In value terms, Thailand ($X) remains the largest preserved salmon supplier in South-Eastern Asia, comprising 68% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 29% share of total exports.

In Thailand, preserved salmon exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, shrinking by -3.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 21%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.3%).

Preserved Salmon Imports

Imports in South-Eastern Asia

In 2021, the amount of salmon (prepared or preserved) imported in South-Eastern Asia dropped dramatically to X tons, which is down by -45% on the previous year's figure. In general, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2013 with an increase of 38%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved salmon imports shrank markedly to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 42%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Singapore represented the main importer of salmon (prepared or preserved) in South-Eastern Asia, with the volume of imports accounting for X tons, which was approx. 56% of total imports in 2021. Malaysia (X tons) held the second position in the ranking, distantly followed by the Philippines (X tons) and Thailand (X tons). All these countries together took near 39% share of total imports. Indonesia (X tons) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of salmon (prepared or preserved). At the same time, Thailand (+1.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +1.2% from 2012-2021. By contrast, the Philippines (-4.7%), Malaysia (-6.7%) and Indonesia (-7.2%) illustrated a downward trend over the same period. While the share of Singapore (+19 p.p.) and Thailand (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Malaysia (-7.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported salmon (prepared or preserved) in South-Eastern Asia, comprising 68% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +9.4%. In the other countries, the average annual rates were as follows: Malaysia (-5.4% per year) and Thailand (+2.2% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, picking up by 50% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Thailand ($X per ton), while Malaysia ($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 (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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