Jellyfish, Dried, Salted Or In Brine, Smoked Market

The article discusses the current and projected trends in the global market for jellyfish, focusing on consumption and production. It highlights the expected growth in the market over the next eight years, with specific forecasts for volume and value. China is identified as the leading consumer and producer of jellyfish, with detailed statistics on consumption and production trends in the country. The article also analyzes import and export data, including key players in the market and price trends over the years.

Market Forecast

Driven by increasing demand for jellyfish, dried, salted or in brine, smoked worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 103K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $230M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Jellyfish, Dried, Salted Or In Brine, Smoked

Global consumption of jellyfish, dried, salted or in brine, smoked contracted to 87K tons in 2022, waning by -5.7% against 2021. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.2% against 2016 indices. Global consumption peaked at 92K tons in 2021, and then fell in the following year.

The size of the market for jellyfish, dried, salted or in brine, smoked worldwide totaled $164M in 2022, growing by 7.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.5% against 2017 indices. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in years to come.

Consumption By Country

China (57K tons) constituted the country with the largest volume of consumption of jellyfish, dried, salted or in brine, smoked, accounting for 66% of total volume. Moreover, consumption of jellyfish, dried, salted or in brine, smoked in China exceeded the figures recorded by the second-largest consumer, Indonesia (5.6K tons), tenfold. The third position in this ranking was held by South Korea (4.2K tons), with a 4.9% share.

In China, consumption of jellyfish, dried, salted or in brine, smoked expanded at an average annual rate of +7.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (-3.7% per year) and South Korea (-0.5% per year).

In value terms, China ($97M) led the market, alone. The second position in the ranking was taken by Indonesia ($9.4M). It was followed by Thailand.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +8.2%. The remaining consuming countries recorded the following average annual rates of market growth: Indonesia (-2.7% per year) and Thailand (+34.9% per year).

In 2022, the highest levels of per capita consumption of jellyfish, dried, salted or in brine, smoked was registered in Bahrain (1,455 kg per 1000 persons), followed by Malaysia (85 kg per 1000 persons), Thailand (45 kg per 1000 persons) and China (40 kg per 1000 persons), while the world average per capita consumption of jellyfish, dried, salted or in brine, smoked was estimated at 0.1 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the per capita consumption of jellyfish, dried, salted or in brine, smoked in Bahrain stood at +2.6%. In the other countries, the average annual rates were as follows: Malaysia (+0.7% per year) and Thailand (+34.1% per year).

Production

World Production of Jellyfish, Dried, Salted Or In Brine, Smoked

In 2022, global production of jellyfish, dried, salted or in brine, smoked contracted modestly to 71K tons, waning by -3.4% against the year before. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 26%. As a result, production attained the peak volume of 85K tons. From 2014 to 2022, global production of growth remained at a somewhat lower figure.

In value terms, production of jellyfish, dried, salted or in brine, smoked declined modestly to $72M in 2022 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -28.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 64%. As a result, production reached the peak level of $101M. From 2019 to 2022, global production of growth remained at a lower figure.

Production By Country

China (30K tons) constituted the country with the largest volume of production of jellyfish, dried, salted or in brine, smoked, accounting for 43% of total volume. Moreover, production of jellyfish, dried, salted or in brine, smoked in China exceeded the figures recorded by the second-largest producer, Indonesia (11K tons), threefold. The third position in this ranking was taken by Thailand (7.2K tons), with a 10% share.

In China, production of jellyfish, dried, salted or in brine, smoked remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (-4.9% per year) and Thailand (+6.0% per year).

Imports

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

Global imports of jellyfish, dried, salted or in brine, smoked fell remarkably to 60K tons in 2022, waning by -21.9% on the year before. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 114%. As a result, imports reached the peak of 77K tons, and then shrank dramatically in the following year.

In value terms, imports of jellyfish, dried, salted or in brine, smoked fell to $104M in 2022. Overall, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 106% against the previous year. As a result, imports reached the peak of $120M, and then shrank in the following year.

Imports By Country

China was the largest importer of jellyfish, dried, salted or in brine, smoked in the world, with the volume of imports amounting to 32K tons, which was near 53% of total imports in 2022. It was distantly followed by South Korea (17K tons) and Malaysia (6.8K tons), together constituting a 40% share of total imports. The following importers - Japan (1.3K tons) and Taiwan (Chinese) (1K tons) - each resulted at a 3.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +63.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($54M) constitutes the largest market for imported jellyfish, dried, salted or in brine, smoked worldwide, comprising 52% of global imports. The second position in the ranking was taken by South Korea ($26M), with a 25% share of global imports. It was followed by Malaysia, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +20.9%. In the other countries, the average annual rates were as follows: South Korea (+8.1% per year) and Malaysia (+67.7% per year).

Import Prices By Country

The average import price for jellyfish, dried, salted or in brine, smoked stood at $1,729 per ton in 2022, rising by 11% against the previous year. In general, the import price, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2013 an increase of 14%. As a result, import price reached the peak level of $3,184 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($4,736 per ton), while Malaysia ($1,252 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%), while the other global leaders experienced more modest paces of growth.

Exports

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

Global exports of jellyfish, dried, salted or in brine, smoked contracted dramatically to 44K tons in 2022, waning by -24.1% on 2021 figures. Over the period under review, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2013 with an increase of 85% against the previous year. Over the period under review, the global exports of attained the maximum at 58K tons in 2021, and then fell rapidly in the following year.

In value terms, exports of jellyfish, dried, salted or in brine, smoked reduced dramatically to $119M in 2022. In general, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +35.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. As a result, the exports attained the peak of $142M, and then dropped markedly in the following year.

Exports By Country

South Korea represented the largest exporting country with an export of around 14K tons, which reached 31% of total exports. Malaysia (6.6K tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (12%), China (11%), Thailand (11%) and Japan (7.4%). Pakistan (1.5K tons) held a little share of total exports.

South Korea was also the fastest-growing in terms of the jellyfish, dried, salted or in brine, smoked exports, with a CAGR of +104.5% from 2012 to 2022. At the same time, Pakistan (+28.3%), Malaysia (+12.4%) and Thailand (+1.6%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, China (-2.5%) and Indonesia (-6.1%) illustrated a downward trend over the same period. South Korea (+31 p.p.), Malaysia (+15 p.p.) and Pakistan (+3 p.p.) significantly strengthened its position in terms of the global exports, while Japan, Thailand, China and Indonesia saw its share reduced by -4.9%, -5.4%, -14.7% and -27% from 2012 to 2022, respectively.

In value terms, China ($32M), Japan ($20M) and South Korea ($18M) were the countries with the highest levels of exports in 2022, together accounting for 59% of global exports.

South Korea, with a CAGR of +77.1%, recorded the highest rates of growth with regard to the value of exports, among 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 2022, the average export price for jellyfish, dried, salted or in brine, smoked amounted to $2,682 per ton, with an increase of 10% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 29%. As a result, the export price reached the peak level of $4,188 per ton. From 2017 to 2022, the average export prices remained at a lower figure.

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 China ($6,367 per ton), while South Korea ($1,331 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform