Southern Asia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Southern Asia

In 2021, the South Asian preserved salmon market increased by 3.7% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in Southern Asia

In value terms, preserved salmon production expanded to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 5.4% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports in Southern Asia

In 2021, after two years of growth, there was significant decline in shipments abroad of salmon (prepared or preserved), when their volume decreased by -50.2% to X tons. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 853%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved salmon exports fell rapidly to $X in 2021. Over the period under review, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2019 with an increase of 1,446%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Sri Lanka represented the major exporter of salmon (prepared or preserved) in Southern Asia, with the volume of exports reaching X tons, which was near 72% of total exports in 2021. It was distantly followed by Bangladesh (X kg), mixing up a 21% share of total exports. India (X kg) and Maldives (X kg) took a little share of total exports.

Exports from Sri Lanka decreased at an average annual rate of -17.1% from 2012 to 2021. At the same time, Bangladesh (+42.8%) and India (+3.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +42.8% from 2012-2021. By contrast, Maldives (-28.8%) illustrated a downward trend over the same period. Bangladesh (+21 p.p.), India (+3.3 p.p.) and Maldives (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -27% from 2012 to 2021, respectively.

In value terms, Sri Lanka ($X) remains the largest preserved salmon supplier in Southern Asia, comprising 63% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 24% share of total exports. It was followed by Maldives, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in Sri Lanka amounted to -21.1%. In the other countries, the average annual rates were as follows: Bangladesh (+31.8% per year) and Maldives (-28.8% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, declining by -5.3% against the previous year. In general, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2019 an increase of 62%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 Maldives (+0.0%), while the other leaders experienced a decline in the export price figures.

Preserved Salmon Imports

Imports in Southern Asia

Preserved salmon imports contracted dramatically to X tons in 2021, shrinking by -30% on the year before. Over the period under review, imports, however, posted a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 196%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved salmon imports dropped slightly to $X in 2021. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 180%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Pakistan was the major importing country with an import of around X tons, which accounted for 46% of total imports. India (X tons) took the second position in the ranking, followed by Maldives (X tons), Nepal (X tons), Bangladesh (X tons), Sri Lanka (X tons) and Afghanistan (X tons). All these countries together held approx. 54% share of total imports.

Pakistan was also the fastest-growing in terms of the salmon (prepared or preserved) imports, with a CAGR of +55.1% from 2012 to 2021. At the same time, India (+12.5%) and Bangladesh (+12.2%) displayed positive paces of growth. Sri Lanka experienced a relatively flat trend pattern. By contrast, Maldives (-1.6%), Afghanistan (-3.4%) and Nepal (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Pakistan, India and Bangladesh increased by +44, +4.7 and +2 percentage points, respectively.

In value terms, Pakistan ($X) constitutes the largest market for imported salmon (prepared or preserved) in Southern Asia, comprising 41% of total imports. The second position in the ranking was taken by India ($X), with a 21% share of total imports. It was followed by Maldives, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Pakistan totaled +72.5%. The remaining importing countries recorded the following average annual rates of imports growth: India (+19.3% per year) and Maldives (+0.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, surging by 38% against the previous year. Import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved salmon import price increased by +100.9% against 2018 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 2021, amid the top importers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+12.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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