Vietnam - Salmon (Prepared or Preserved) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingVietnam: Preserved Salmon Market 2024
Preserved Salmon Market Size in Vietnam
In 2021, the Vietnamese preserved salmon market increased by 34% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.
Preserved Salmon Production in Vietnam
In value terms, preserved salmon production expanded markedly to $X in 2021 estimated in export price. In general, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 53%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.
Preserved Salmon Exports
Exports from Vietnam
In 2021, after five years of growth, there was significant decline in shipments abroad of salmon (prepared or preserved), when their volume decreased by -14.6% to X tons. In general, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 163% against the previous year. The exports peaked at X tons in 2020, and then reduced in the following year.
In value terms, preserved salmon exports fell markedly to $X in 2021. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 171%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
Japan (X tons) was the main destination for preserved salmon exports from Vietnam, accounting for a 85% share of total exports. Moreover, preserved salmon exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total exports with a 4.4% share.
From 2012 to 2021, the average annual growth rate of volume to Japan stood at +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+94.4% per year) and Singapore (+129.3% per year).
In value terms, Japan ($X) remains the key foreign market for salmon (prepared or preserved) exports from Vietnam, comprising 85% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 6.2% share of total exports. It was followed by Singapore, with a 4.4% share.
From 2012 to 2021, the average annual growth rate of value to Japan totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+94.7% per year) and Singapore (+127.3% per year).
Export Prices by Country
The average preserved salmon export price stood at $X per ton in 2021, dropping by -12.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Singapore ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.2%), while the prices for the other major destinations experienced more modest paces of growth.
Preserved Salmon Imports
Imports into Vietnam
Preserved salmon imports into Vietnam contracted notably to X kg in 2021, waning by -95.7% compared with the year before. In general, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 533%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.
In value terms, preserved salmon imports fell rapidly to $X in 2021. Over the period under review, imports saw a deep setback. The growth pace was the most rapid in 2015 when imports increased by 618%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.
Imports by Country
In 2021, Norway (X kg) constituted the largest supplier of preserved salmon to Vietnam, with a 90% share of total imports. Moreover, preserved salmon imports from Norway exceeded the figures recorded by the second-largest supplier, Singapore (X kg), tenfold.
From 2012 to 2021, the average annual growth rate of volume from Norway totaled -13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-62.0% per year) and Japan (-33.3% per year).
In value terms, Norway ($X) constituted the largest supplier of salmon (prepared or preserved) to Vietnam, comprising 90% of total imports. The second position in the ranking was taken by Singapore ($X), with an 8.8% share of total imports.
From 2012 to 2021, the average annual growth rate of value from Norway stood at -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-59.9% per year) and Japan (-31.3% per year).
Import Prices by Country
In 2021, the average preserved salmon import price amounted to $X per ton, picking up by 2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the preserved salmon market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10202510 - Prepared or preserved salmon, whole or in pieces (excluding minced products and prepared meals and dishes)
Country coverage:
- Vietnam
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Vietnam
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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