Vietnam: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2025

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Vietnam

For the third year in a row, the Vietnamese meat and fish extracts market recorded decline in sales value, which decreased by -3.4% to $X in 2021. Over the period under review, consumption showed a abrupt downturn. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Vietnam

In value terms, meat and fish extracts production stood at $X in 2021 estimated in export price. Overall, production saw a pronounced downturn. The pace of growth was the most pronounced in 2013 when the production volume increased by 8.7%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports from Vietnam

In 2021, overseas shipments of extracts and juices of meat, fish, crustaceans and molluscs increased by 38% to X tons, rising for the fourth year in a row after two years of decline. In general, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 270%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, meat and fish extracts exports expanded markedly to $X in 2021. Over the period under review, exports recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 317% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X tons) was the main destination for meat and fish extracts exports from Vietnam, with a 97% share of total exports. It was followed by Malaysia (X tons), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +40.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+50.4% per year) and the Philippines (-30.9% per year).

In value terms, South Korea ($X) remains the key foreign market for extracts and juices of meat, fish, crustaceans and molluscs exports from Vietnam, comprising 97% of total exports. The second position in the ranking was held by Malaysia ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea totaled +43.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+66.9% per year) and the Philippines (-23.4% per year).

Export Prices by Country

In 2021, the average meat and fish extracts export price amounted to $X per ton, which is down by -16.5% against the previous year. In general, the export price, however, enjoyed perceptible growth. The growth pace was the most rapid in 2014 an increase of 86%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to South Korea ($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 Malaysia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports into Vietnam

In 2021, imports of extracts and juices of meat, fish, crustaceans and molluscs into Vietnam contracted remarkably to X tons, shrinking by -15.8% on 2020. In general, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 260% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, meat and fish extracts imports dropped dramatically to $X in 2021. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 262%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and New Zealand (X tons) were the main suppliers of meat and fish extracts imports to Vietnam, together accounting for 92% of total imports.

From 2012 to 2021, the biggest increases were recorded for New Zealand (with a CAGR of +40.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest meat and fish extracts suppliers to Vietnam were Japan ($X), China ($X) and New Zealand ($X), with a combined 92% share of total imports.

In terms of the main suppliers, New Zealand, with a CAGR of +51.2%, 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

The average meat and fish extracts import price stood at $X per ton in 2021, with a decrease of -14.6% against the previous year. Overall, the import price, however, showed tangible growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 60%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and New Zealand ($X per ton), while the price for South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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