Prepared or Preserved Fish and Dishes Market

The global market for prepared or preserved fish and dishes other than dried, smoked, salted, or in brine is expected to show growth trends in both volume and value until 2030. Consumption, production, imports, and exports are analyzed, with key insights on market performance, top consuming countries, highest production levels, import and export volumes, and average prices. Projections for market size, consumption habits, and production trends provide valuable information for industry stakeholders to plan for the future.

Market Forecast

Driven by increasing demand for prepared or preserved fish and dishes other than dried, smoked, salted or in brine worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 39M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $279.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

After two years of growth, consumption of prepared or preserved fish and dishes other than dried, smoked, salted or in brine decreased by -0.4% to 35M tons in 2022. The total consumption volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 7.8%. Over the period under review, global consumption of reached the peak volume at 35M tons in 2021, and then declined in the following year.

The size of the market for prepared or preserved fish and dishes other than dried, smoked, salted or in brine worldwide contracted slightly to $211.7B in 2022, falling by -3.4% 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). The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $219.1B, and then fell slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.1M tons), the United States (2.7M tons) and Norway (2.3M tons), with a combined 29% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +29.3%), while brine for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared or preserved fish and dishes markets worldwide were China ($31.9B), Japan ($24.9B) and the United States ($17.5B), with a combined 35% share of the global market. India, Indonesia, Pakistan, Mexico, Bangladesh, Norway, France, Russia, Brazil and Nigeria lagged somewhat behind, together accounting for a further 26%.

Among the main consuming countries, Norway, with a CAGR of +25.8%, recorded the highest growth rate of market size over the period under review, while brine for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of prepared or preserved fish and dishes other than dried, smoked, salted or in brine was registered in Norway (417 kg per person), followed by Japan (9.6 kg per person), the United States (8.1 kg per person) and France (7.8 kg per person), while the world average per capita consumption of prepared or preserved fish and dishes was estimated at 4.4 kg per person.

In Norway, per capita consumption of prepared or preserved fish and dishes other than dried, smoked, salted or in brine increased at an average annual rate of +28.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Japan (+6.7% per year) and the United States (-2.9% per year).

Production

World Production of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

In 2022, production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine decreased by -0.8% to 35M tons for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 8.1%. Global production peaked at 35M tons in 2021, and then declined modestly in the following year.

In value terms, production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine shrank to $205B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $216.6B, and then contracted in the following year.

Production By Country

China (6.5M tons) constituted the country with the largest volume of production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine, comprising approx. 19% of total volume. Moreover, production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine in China exceeded the figures recorded by the second-largest producer, Norway (2.3M tons), threefold. The third position in this ranking was held by India (2M tons), with a 5.8% share.

In China, production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine increased at an average annual rate of +4.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Norway (+29.1% per year) and India (+2.7% per year).

Imports

World Imports of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

In 2022, the amount of prepared or preserved fish and dishes other than dried, smoked, salted or in brine imported worldwide expanded slightly to 5.1M tons, with an increase of 1.8% against the previous year. The total import volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 6.2% against the previous year. Over the period under review, global imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine amounted to $29.3B in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 10% against the previous year. Over the period under review, global imports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (764K tons), followed by Japan (408K tons), Germany (279K tons), Spain (267K tons), Italy (262K tons) and France (249K tons) were the key importers of prepared or preserved fish and dishes other than dried, smoked, salted or in brine, together constituting 44% of total imports. The following importers - the UK (228K tons), the Netherlands (127K tons), South Korea (120K tons), Australia (120K tons), Thailand (112K tons), Canada (110K tons) and Malaysia (78K tons) - together made up 17% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +10.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared or preserved fish and dishes importing markets worldwide were the United States ($6B), Japan ($3.1B) and Germany ($1.6B), with a combined 37% share of global imports. Italy, France, Spain, the UK, the Netherlands, Canada, Australia, South Korea, Thailand and Malaysia lagged somewhat behind, together comprising a further 32%.

Thailand, with a CAGR of +7.1%, saw 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 2022, the average import price for prepared or preserved fish and dishes other than dried, smoked, salted or in brine amounted to $5,712 per ton, surging by 2.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.3%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($7,887 per ton), while Malaysia ($2,214 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

In 2022, shipments abroad of prepared or preserved fish and dishes other than dried, smoked, salted or in brine decreased by -0.5% to 5.5M tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 8.3% against the previous year. The global exports peaked at 5.5M tons in 2021, and then reduced modestly in the following year.

In value terms, exports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine expanded modestly to $33.7B in 2022. The total export value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. Over the period under review, the global exports of reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports By Country

In 2022, China (1.4M tons), distantly followed by Thailand (806K tons), Vietnam (346K tons) and Ecuador (344K tons) represented the major exporters of prepared or preserved fish and dishes other than dried, smoked, salted or in brine, together achieving 53% of total exports. Spain (224K tons), Morocco (193K tons), Indonesia (188K tons), Germany (162K tons), the Netherlands (158K tons), Poland (132K tons), Chile (113K tons), India (98K tons) and the Philippines (93K tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +15.8%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($9.7B) remains the largest prepared or preserved fish and dishes supplier worldwide, comprising 29% of global exports. The second position in the ranking was held by Thailand ($3.9B), with an 11% share of global exports. It was followed by Vietnam, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-3.0% per year) and Vietnam (+9.5% per year).

Export Prices By Country

In 2022, the average export price for prepared or preserved fish and dishes other than dried, smoked, salted or in brine amounted to $6,122 per ton, surging by 2.7% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 9.9%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($8,783 per ton), while Chile ($3,511 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform