Southern Asia: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in Southern Asia

The South Asian frozen cuttlefishes market expanded modestly to $X in 2021, with an increase of 1.9% against the previous year. Overall, consumption, however, posted a buoyant increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Frozen Cuttlefishes Production in Southern Asia

In value terms, frozen cuttlefishes production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 24%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Frozen Cuttlefishes Exports

Exports in Southern Asia

In 2021, the amount of frozen cuttlefishes exported in Southern Asia surged to X tons, rising by 21% on 2020 figures. Over the period under review, exports, however, saw a dramatic contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 51%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports skyrocketed to $X in 2021. In general, exports, however, showed a dramatic slump. The pace of growth was the most pronounced in 2019 when exports increased by 57%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

India was the key exporting country with an export of about X tons, which recorded 60% of total exports. It was distantly followed by Pakistan (X tons) and Sri Lanka (X tons), together committing a 40% share of total exports.

Exports from India decreased at an average annual rate of -29.5% from 2012 to 2021. At the same time, Sri Lanka (+3.0%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +3.0% from 2012-2021. By contrast, Pakistan (-3.1%) illustrated a downward trend over the same period. Pakistan (+24 p.p.) and Sri Lanka (+13 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -36.7% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest frozen cuttlefishes supplier in Southern Asia, comprising 59% of total exports. The second position in the ranking was held by Pakistan ($X), with a 21% share of total exports.

In India, frozen cuttlefishes exports plunged by an average annual rate of -27.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+1.2% per year) and Sri Lanka (+2.5% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, increasing by 5.6% against the previous year. Over the last nine years, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2016 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Frozen Cuttlefishes Imports

Imports in Southern Asia

In 2021, purchases abroad of frozen cuttlefishes increased by 3.1% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of 105%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen cuttlefishes imports skyrocketed to $X in 2021. In general, imports, however, showed a deep reduction. The growth pace was the most rapid in 2016 when imports increased by 215% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) was the major importer of frozen cuttlefishes, achieving 49% of total imports. Sri Lanka (X tons) held the second position in the ranking, followed by Maldives (X tons). All these countries together held approx. 48% share of total imports. Pakistan (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +10.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest frozen cuttlefishes importing markets in Southern Asia were India ($X), Maldives ($X) and Sri Lanka ($X), together comprising 96% of total imports. These countries were followed by Pakistan, which accounted for a further 2.9%.

Pakistan, with a CAGR of +17.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, jumping by 41% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 54%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Maldives ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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