Southern Asia: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Southern Asia

In 2022, the South Asian frozen fish fillet market increased by 40% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Frozen Fish Fillet Production in Southern Asia

In value terms, frozen fish fillet production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Frozen Fish Fillet Exports

Exports in Southern Asia

In 2022, approx. X tons of frozen fish fillet were exported in Southern Asia; growing by 31% against the year before. Over the period under review, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 87%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen fish fillet exports surged to $X in 2022. Overall, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 79%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) and Pakistan (X tons) dominates exports structure, together constituting 89% of total exports. Bangladesh (X tons) ranks next in terms of the total exports with a 5.7% share, followed by Sri Lanka (5.2%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Pakistan (with a CAGR of +18.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, India ($X) remains the largest frozen fish fillet supplier in Southern Asia, comprising 57% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 26% share of total exports. It was followed by Sri Lanka, with a 9.6% share.

In India, frozen fish fillet exports shrank by an average annual rate of -10.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+18.7% per year) and Sri Lanka (-20.4% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, surging by 10% against the previous year. Over the period under review, the export price enjoyed a notable increase. The pace of growth was the most pronounced in 2013 an increase of 128%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.3%), while the other leaders experienced mixed trends in the export price figures.

Frozen Fish Fillet Imports

Imports in Southern Asia

In 2022, the amount of frozen fish fillet imported in Southern Asia skyrocketed to X tons, growing by 42% on the previous year's figure. Overall, imports posted a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 83% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports skyrocketed to $X in 2022. In general, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the major importer of frozen fish fillet in Southern Asia, with the volume of imports recording X tons, which was near 71% of total imports in 2022. It was distantly followed by Pakistan (X tons), mixing up a 25% share of total imports. Bangladesh (X tons) took a little share of total imports.

India was also the fastest-growing in terms of the frozen fish fillet imports, with a CAGR of +28.6% from 2012 to 2022. At the same time, Pakistan (+20.8%) and Bangladesh (+6.2%) displayed positive paces of growth. India (+39 p.p.) and Pakistan (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh saw its share reduced by -3.2% from 2012 to 2022, respectively.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) were the countries with the highest levels of imports in 2022, together comprising 95% of total imports.

Among the main importing countries, India, with a CAGR of +32.3%, saw the highest growth rate of the value of imports, 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, jumping by 67% against the previous year. In general, the import price recorded a modest increase. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per ton), while India ($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 (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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