Global Fish Parts Market 2024

Fish Parts Market Size

The global fish parts market reached $X in 2022, remaining constant against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2020 indices. Over the period under review, the global market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Fish Parts Production

In value terms, fish parts production expanded to $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -2.6% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 25% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Fish Parts Exports

Exports

In 2022, approx. X tons of fish heads, tails and maws were exported worldwide; surging by 15% compared with the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 24%. The global exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fish parts exports surged to $X in 2022. In general, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.4% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by 43%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Norway (X tons), Iceland (X tons) and Vietnam (X tons) was the largest exporter of fish heads, tails and maws in the world, committing 55% of total export. Tanzania (X tons) ranks next in terms of the total exports with a 5.8% share, followed by Belarus (5%). The following exporters - Botswana (X tons), Hong Kong SAR (X tons), Portugal (X tons), China (X tons), Indonesia (X tons) and Singapore (X tons) - together made up 17% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +183.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest fish parts supplying countries worldwide were Hong Kong SAR ($X), Vietnam ($X) and Iceland ($X), with a combined 40% share of global exports. Tanzania, Norway, Indonesia, Singapore, China, Belarus, Botswana and Portugal lagged somewhat behind, together accounting for a further 24%.

Among the main exporting countries, Botswana, with a CAGR of +161.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average fish parts export price stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 41% against the previous year. The global export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+20.4%), while the other global leaders experienced more modest paces of growth.

Fish Parts Imports

Imports

In 2022, overseas purchases of fish heads, tails and maws decreased by -11.9% to X tons, falling for the fourth year in a row after five years of growth. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 52% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of global imports remained at a lower figure.

In value terms, fish parts imports reached $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X tons) was the largest importer of fish heads, tails and maws, committing 44% of total imports. China (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (8.9%), Russia (5.3%) and Vietnam (4.8%). The following importers - Democratic Republic of the Congo (X tons), Portugal (X tons), Singapore (X tons), Benin (X tons), Macao SAR (X tons) and South Korea (X tons) - together made up 14% of total imports.

From 2012 to 2022, average annual rates of growth with regard to fish parts imports into Nigeria stood at +32.6%. At the same time, Benin (+55.8%), China (+26.7%), Democratic Republic of the Congo (+19.9%), Russia (+19.2%), Macao SAR (+17.9%), South Korea (+13.5%) and Portugal (+9.8%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in the world, with a CAGR of +55.8% from 2012-2022. By contrast, Hong Kong SAR (-1.8%), Vietnam (-1.9%) and Singapore (-6.0%) illustrated a downward trend over the same period. While the share of Nigeria (+44 p.p.), China (+10 p.p.), Russia (+3.3 p.p.), Benin (+2 p.p.) and Democratic Republic of the Congo (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Vietnam (-7.8 p.p.), Singapore (-8.6 p.p.) and Hong Kong SAR (-14.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported fish heads, tails and maws worldwide, comprising 49% of global imports. The second position in the ranking was held by Macao SAR ($X), with a 13% share of global imports. It was followed by Nigeria, with an 11% share.

In Hong Kong SAR, fish parts imports increased at an average annual rate of +1.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Macao SAR (+24.9% per year) and Nigeria (+6.7% per year).

Import Prices by Country

The average fish parts import price stood at $X per ton in 2022, picking up by 27% against the previous year. In general, the import price, however, continues to indicate a noticeable downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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