Southern Asia: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Southern Asia

The South Asian fresh fish fillet market dropped to $X in 2021, waning by -9.1% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +10.7% against 2019 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Fresh Fish Fillet Production in Southern Asia

In value terms, fresh fish fillet production fell to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +12.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Fresh Fish Fillet Exports

Exports in Southern Asia

In 2021, overseas shipments of fresh or chilled fish fillets were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 132%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh fish fillet exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by 236%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sri Lanka was the largest exporter of fresh or chilled fish fillets in Southern Asia, with the volume of exports finishing at X tons, which was near 82% of total exports in 2021. It was distantly followed by India (X tons), creating a 16% share of total exports.

Sri Lanka was also the fastest-growing in terms of the fresh or chilled fish fillets exports, with a CAGR of -8.2% from 2012 to 2021. India (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sri Lanka increased by +11 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sri Lanka ($X) remains the largest fresh fish fillet supplier in Southern Asia, comprising 94% of total exports. The second position in the ranking was held by India ($X), with a 5.7% share of total exports.

In Sri Lanka, fresh fish fillet exports declined by an average annual rate of -8.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 23% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 52% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India amounted to $X per ton.

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

Fresh Fish Fillet Imports

Imports in Southern Asia

Fresh fish fillet imports skyrocketed to X tons in 2021, jumping by 53% compared with 2020. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 244%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, fresh fish fillet imports surged to $X in 2021. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 136%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Pakistan dominates imports structure, finishing at X tons, which was near 91% of total imports in 2021. Nepal (X tons) and Maldives (X tons) followed a long way behind the leaders.

Pakistan was also the fastest-growing in terms of the fresh or chilled fish fillets imports, with a CAGR of +42.1% from 2012 to 2021. At the same time, Maldives (+39.4%) and Nepal (+24.0%) displayed positive paces of growth. Pakistan (+49 p.p.) significantly strengthened its position in terms of the total imports, while Nepal saw its share reduced by -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Pakistan ($X) constitutes the largest market for imported fresh or chilled fish fillets in Southern Asia, comprising 78% of total imports. The second position in the ranking was taken by Maldives ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Pakistan stood at +34.9%. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (+43.0% per year) and Nepal (+7.4% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, growing by 8.2% against the previous year. In general, the import price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the import price increased by 41% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Maldives (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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