Overview of the Global Market for Flours, Meals And Pellets Of Fish

Market Size for Flours, Meals And Pellets Of Fish

In 2021, the global fish meals and pellet market increased by 2.6% to $X, rising for the fourth year in a row after four years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Global consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish

In value terms, fish meals and pellet production reduced to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, global production growth failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish

Exports

In 2021, overseas shipments of flours, meals and pellets of fish were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 62% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, fish meals and pellet exports rose slightly to $X in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 34%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the global exports failed to regain momentum.

Exports by Country

In 2021, China (X tons), Costa Rica (X tons), Myanmar (X tons) and Indonesia (X tons) was the major exporter of flours, meals and pellets of fish in the world, comprising 54% of total export. Pakistan (X tons) held a 5.5% share (based on physical terms) of total exports, which put it in second place, followed by the United States (4.9%). The following exporters - Latvia (X tons), Peru (X tons), Denmark (X tons), South Africa (X tons), Canada (X tons), Vietnam (X tons) and the Netherlands (X tons) - together made up 20% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +39.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest fish meals and pellet supplying countries worldwide were Costa Rica ($X), China ($X) and Indonesia ($X), with a combined 58% share of global exports. Peru, Canada, Denmark, Vietnam, the United States, Myanmar, the Netherlands, Latvia, Pakistan and South Africa lagged somewhat behind, together comprising a further 27%.

Vietnam, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fish meals and pellet export price amounted to $X per ton, approximately mirroring the previous year. Overall, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fish meals and pellet export price increased by +66.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+13.3%), while the other global leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports

In 2021, purchases abroad of flours, meals and pellets of fish increased by 3.3% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 19%. Global imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, fish meals and pellet imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 11% against the previous year. Over the period under review, global imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Japan was the key importer of flours, meals and pellets of fish in the world, with the volume of imports accounting for X tons, which was near 27% of total imports in 2021. It was distantly followed by the UK (X tons), Nigeria (X tons), Sweden (X tons), Denmark (X tons) and Democratic People's Republic of Korea (X tons), together mixing up a 37% share of total imports. The following importers - Malaysia (X tons), Germany (X tons), Canada (X tons), China (X tons), Russia (X tons), the Netherlands (X tons) and the United States (X tons) - together made up 20% of total imports.

Imports into Japan decreased at an average annual rate of -2.5% from 2012 to 2021. At the same time, Democratic People's Republic of Korea (+64.9%), Nigeria (+34.4%), the UK (+25.3%), Malaysia (+21.7%), Germany (+16.5%), Russia (+10.5%), Denmark (+8.7%), the United States (+2.3%) and China (+2.3%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +64.9% from 2012-2021. By contrast, Sweden (-4.2%), the Netherlands (-4.9%) and Canada (-9.8%) illustrated a downward trend over the same period. While the share of the UK (+9.5 p.p.), Nigeria (+7.1 p.p.), Democratic People's Republic of Korea (+5.3 p.p.), Malaysia (+3.1 p.p.), Germany (+2.6 p.p.) and Denmark (+2.6 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the Netherlands (-1.7 p.p.), Sweden (-5.1 p.p.), Canada (-5.9 p.p.) and Japan (-11.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported flours, meals and pellets of fish worldwide, comprising 41% of global imports. The second position in the ranking was held by China ($X), with an 8.7% share of global imports. It was followed by the UK, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in Japan totaled -3.6%. The remaining importing countries recorded the following average annual rates of imports growth: China (+17.4% per year) and the UK (+24.8% per year).

Import Prices by Country

The average fish meals and pellet import price stood at $X per ton in 2021, rising by 3.5% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 24%. Global import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, 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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