Southern Asia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Southern Asia

In 2022, the South Asian frozen fish and seafood market decreased by X% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Fish And Seafood in Southern Asia

In value terms, frozen fish and seafood production shrank modestly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports in Southern Asia

In 2022, overseas shipments of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. Total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports rose modestly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Pakistan (X tons), committing a X% share of total exports. The following exporters - Maldives (X tons) and Bangladesh (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish and seafood exports from India stood at X%. At the same time, Maldives (X%), Pakistan (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Maldives increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest frozen fish and seafood supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with an X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports in Southern Asia

In 2022, overseas purchases of frozen fish and seafood decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, frozen fish and seafood imports contracted to $X in 2022. In general, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

India was the major importing country with an import of around X tons, which finished at X% of total imports. Bangladesh (X tons) took the second position in the ranking, distantly followed by Sri Lanka (X tons), Maldives (X tons) and Pakistan (X tons). All these countries together took near X% share of total imports. Nepal (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Maldives ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Pakistan, Sri Lanka and Nepal lagged somewhat behind, together comprising a further X%.

Pakistan, with a CAGR of X%, saw 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

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish and seafood import price increased by X% against 2020 indices. As a result, import price reached 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 2022, amid the top importers, the country with the highest price was Maldives ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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