Vietnam: Market for Dried Or Smoked Fish 2025

Market Size for Dried Or Smoked Fish in Vietnam

The Vietnamese dried or smoked fish market skyrocketed to $X in 2021, increasing by 16% against the previous year. In general, consumption, however, saw a perceptible curtailment. Dried or smoked fish consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Dried Or Smoked Fish in Vietnam

In value terms, dried or smoked fish production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, posted mild growth. The most prominent rate of growth was recorded in 2017 with an increase of 62%. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Dried Or Smoked Fish

Exports from Vietnam

In 2021, after seven years of growth, there was significant decline in overseas shipments of dried or smoked fish, when their volume decreased by -19.9% to X tons. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 91%. The exports peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, dried or smoked fish exports contracted to $X in 2021. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 103%. The exports peaked at $X in 2020, and then reduced in the following year.

Exports by Country

China (X tons) was the main destination for dried or smoked fish exports from Vietnam, with a 41% share of total exports. Moreover, dried or smoked fish exports to China exceeded the volume sent to the second major destination, Russia (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+4.3% per year) and Malaysia (+20.0% per year).

In value terms, China ($X) remains the key foreign market for dried or smoked fish exports from Vietnam, comprising 41% of total exports. The second position in the ranking was held by Japan ($X), with a 15% share of total exports. It was followed by Russia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +57.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+27.5% per year) and Russia (+7.7% per year).

Export Prices by Country

The average dried or smoked fish export price stood at $X per ton in 2021, rising by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports into Vietnam

In 2021, approx. X tons of dried or smoked fish were imported into Vietnam; rising by 132% against 2020. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 1,997% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports surged to $X in 2021. In general, imports saw a significant increase. The growth pace was the most rapid in 2013 when imports increased by 1,244% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Portugal (X tons) constituted the largest dried or smoked fish supplier to Vietnam, accounting for a 48% share of total imports. Moreover, dried or smoked fish imports from Portugal exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. Chile (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Portugal amounted to +49.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+111.2% per year) and Chile (+193.1% per year).

In value terms, the largest dried or smoked fish suppliers to Vietnam were Chile ($X), Portugal ($X) and Norway ($X), with a combined 74% share of total imports.

Among the main suppliers, Chile, with a CAGR of +180.5%, saw the highest rates of growth with regard to 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 2021, the average dried or smoked fish import price amounted to $X per ton, declining by -22.2% against the previous year. Overall, the import price saw a abrupt contraction. The growth pace was the most rapid in 2019 an increase of 35%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Chile ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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