Vietnam: Market for Jellyfish, Dried, Salted Or In Brine, Smoked 2024

Market Size for Jellyfish, Dried, Salted Or In Brine, Smoked in Vietnam

In 2022, the Vietnamese market for jellyfish, dried, salted or in brine, smoked increased by 1.3% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a precipitous setback. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Jellyfish, Dried, Salted Or In Brine, Smoked in Vietnam

In value terms, production of jellyfish, dried, salted or in brine, smoked reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 with an increase of 14%. Over the period under review, production of attained the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Jellyfish, Dried, Salted Or In Brine, Smoked

Exports from Vietnam

In 2022, after two years of growth, there was decline in shipments abroad of jellyfish, dried, salted or in brine, smoked, when their volume decreased by less than 0.1% to X tons. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 114% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of jellyfish, dried, salted or in brine, smoked declined slightly to $X in 2022. In general, exports saw a pronounced decline. The pace of growth was the most pronounced in 2014 when exports increased by 130%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for exports of jellyfish, dried, salted or in brine, smoked from Vietnam, accounting for a 88% share of total exports. Moreover, exports of jellyfish, dried, salted or in brine, smoked to Malaysia exceeded the volume sent to the second major destination, South Korea (X tons), eightfold. The third position in this ranking was held by Japan (X kg), with a 0.8% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-11.8% per year) and Japan (-34.0% per year).

In value terms, Malaysia ($X) remains the key foreign market for jellyfish, dried, salted or in brine, smoked exports from Vietnam, comprising 89% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.2% share of total exports. It was followed by Japan, with a 0.6% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-15.5% per year) and Japan (-35.5% per year).

Export Prices by Country

The average export price for jellyfish, dried, salted or in brine, smoked stood at $X per ton in 2022, declining by -2.4% against the previous year. Overall, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2019 an increase of 18%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Japan ($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 Australia (+2.3%), while the prices for the other major destinations experienced a decline.

Imports of Jellyfish, Dried, Salted Or In Brine, Smoked

Imports into Vietnam

In 2015, purchases abroad of jellyfish, dried, salted or in brine, smoked decreased by -18.8% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 270% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2015, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of jellyfish, dried, salted or in brine, smoked reduced to $X in 2015. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 277% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2015, the growth of imports of failed to regain momentum.

Imports by Country

Indonesia (X tons), Mexico (X tons) and Japan (X tons) were the main suppliers of imports of jellyfish, dried, salted or in brine, smoked to Vietnam, together accounting for 78% of total imports.

From 2012 to 2015, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +312.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest jellyfish, dried, salted or in brine, smoked suppliers to Vietnam were Japan ($X), Mexico ($X) and Indonesia ($X), together accounting for 81% of total imports.

Among the main suppliers, Mexico, with a CAGR of +364.9%, 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 2015, the average import price for jellyfish, dried, salted or in brine, smoked amounted to $X per ton, increasing by 21% against the previous year. Over the period under review, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of 51% against the previous year. The import price peaked in 2015 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2015, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

From 2012 to 2015, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+91.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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