Vietnam: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Vietnam

The Vietnamese frozen fish and seafood market totaled $X in 2022, rising by X% against the previous year. 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 in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Fish And Seafood in Vietnam

In value terms, frozen fish and seafood production expanded slightly to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion 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 decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from Vietnam

Frozen fish and seafood exports from Vietnam soared to X tons in 2022, with an increase of X% compared with the previous year. Overall, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for frozen fish and seafood exports from Vietnam, with a X% share of total exports. Moreover, frozen fish and seafood exports to the United Arab Emirates exceeded the volume sent to the second major destination, China (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for frozen fish and seafood exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price showed a deep reduction. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Vietnam

In 2022, the amount of frozen fish and seafood imported into Vietnam rose notably to X tons, increasing by X% against the year before. Overall, imports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a slight downturn. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Myanmar (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of frozen fish and seafood imports to Vietnam, with a combined X% share of total imports.

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

In value terms, Myanmar ($X) constituted the largest supplier of frozen fish and seafood to Vietnam, comprising X% of total imports. The second position in the ranking was held by Indonesia ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Myanmar amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and China (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Myanmar ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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