Overview of the Global Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

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

The global meat and fish extracts market was finally on the rise to reach $X in 2021, after seven years of decline. In general, consumption, however, continues to indicate a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the global market failed to regain momentum.

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

In value terms, meat and fish extracts production amounted to $X in 2021 estimated in export price. In general, production, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2013 with an increase of 8%. As a result, production attained the peak level of $X. From 2014 to 2021, global production growth remained at a lower figure.

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

Exports

In 2021, the amount of extracts and juices of meat, fish, crustaceans and molluscs exported worldwide was estimated at X tons, almost unchanged from the previous year. In general, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.5% against 2012 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 22% against the previous year. Over the period under review, the global exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, meat and fish extracts exports dropped to $X in 2021. Overall, total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +49.2% against 2012 indices. The pace of growth was the most pronounced in 2020 when exports increased by 20%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Thailand (X tons), Italy (X tons) and China (X tons) represented roughly 63% of total exports in 2021. It was distantly followed by France (X tons) and the United States (X tons), together mixing up a 10% share of total exports. The following exporters - South Korea (X tons), Belgium (X tons), Spain (X tons), New Zealand (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Brazil (X tons) and Canada (X tons) - together made up 20% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Canada (with a CAGR of +43.5%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the largest meat and fish extracts supplier worldwide, comprising 19% of global exports. The second position in the ranking was held by Italy ($X), with an 8.8% share of global exports. It was followed by France, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in New Zealand stood at +5.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+9.3% per year) and France (+9.4% per year).

Export Prices by Country

In 2021, the average meat and fish extracts export price amounted to $X per ton, declining by -13.7% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 10% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Thailand ($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 (+14.4%), while the other global leaders experienced more modest paces of growth.

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

Imports

In 2021, approx. X tons of extracts and juices of meat, fish, crustaceans and molluscs were imported worldwide; with a decrease of -1.7% against 2020. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of global imports remained at a somewhat lower figure.

In value terms, meat and fish extracts imports contracted to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 7.8%. Global imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) was the largest importer of extracts and juices of meat, fish, crustaceans and molluscs, committing 28% of total imports. Japan (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (13%), the Philippines (7%) and Hungary (5.1%). The United States (X tons), France (X tons), Canada (X tons), Singapore (X tons), the UK (X tons) and Belgium (X tons) took a minor share of total imports.

Imports into South Korea increased at an average annual rate of +7.9% from 2012 to 2021. At the same time, the United States (+14.2%), the Philippines (+4.5%), Hong Kong SAR (+4.2%), Hungary (+2.7%) and Japan (+1.4%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in the world, with a CAGR of +14.2% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, France (-1.6%), Belgium (-2.1%), Canada (-2.4%) and the UK (-4.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, the United States and Hong Kong SAR increased by +11, +2.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and the United States ($X) were the countries with the highest levels of imports in 2021, together comprising 37% of global imports.

The United States, with a CAGR of +17.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average meat and fish extracts import price amounted to $X per ton, shrinking by -4.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 27%. Global import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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