Asia: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Asia

The Asian frozen cuttlefishes market stood at $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption continues to indicate a notable increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Frozen Cuttlefishes Production in Asia

In value terms, frozen cuttlefishes production amounted to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Frozen Cuttlefishes Exports

Exports in Asia

After five years of decline, overseas shipments of frozen cuttlefishes increased by X% to X tons in 2022. In general, exports, however, continue to indicate a dramatic downturn. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports rose markedly to $X in 2022. Over the period under review, exports, however, faced a precipitous decrease. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam was the major exporter of frozen cuttlefishes in Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. India (X tons) held the second position in the ranking, followed by China (X tons) and Indonesia (X tons). All these countries together took near X% share of total exports. The following exporters - Malaysia (X tons), Democratic People's Republic of Korea (X tons) and Sri Lanka (X tons) - each amounted to a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen cuttlefishes exports from Vietnam stood at X%. Sri Lanka (X%), Malaysia (X%), Indonesia (X%), India (X%), China (X%) and Democratic People's Republic of Korea (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Sri Lanka (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.), India (X p.p.), Democratic People's Republic of Korea (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen cuttlefishes supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by India, with a X% share.

In Vietnam, frozen cuttlefishes exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price showed a buoyant increase. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in years to come.

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 ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Frozen Cuttlefishes Imports

Imports in Asia

In 2022, overseas purchases of frozen cuttlefishes increased by X% to X tons, rising for the third year in a row after five years of decline. Over the period under review, imports, however, faced a deep contraction. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports soared to $X in 2022. Overall, imports, however, faced a abrupt setback. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons) and Democratic People's Republic of Korea (X tons) represented the main importers of frozen cuttlefishes in 2022, finishing at near X% and X% of total imports, respectively. It was distantly followed by Thailand (X tons), the United Arab Emirates (X tons) and Malaysia (X tons), together comprising a X% share of total imports. The following importers - South Korea (X tons) and Japan (X tons) - each reached a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest frozen cuttlefishes importing markets in Asia were Thailand ($X), China ($X) and Democratic People's Republic of Korea ($X), together accounting for X% of total imports.

In terms of the main importing countries, Democratic People's Republic of Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat 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 South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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