Asia: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Asia

The Asian frozen whole fish market was estimated at $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Frozen Whole Fish Production in Asia

In value terms, frozen whole fish production expanded remarkably to $X in 2023 estimated in export price. The total production indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Frozen Whole Fish Exports

Exports in Asia

In 2023, shipments abroad of frozen whole fish increased by X% to X tons, rising for the second consecutive year after four years of decline. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of export peaked at X tons in 2017; afterwards, it flattened through to 2023.

In value terms, frozen whole fish exports dropped slightly to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2022, and then contracted slightly in the following year.

Exports by Country

In 2023, China (X tons), distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons), India (X tons), Japan (X tons), Indonesia (X tons) and Vietnam (X tons) represented the largest exporters of frozen whole fish, together generating X% of total exports. Oman (X tons), Myanmar (X tons), Pakistan (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest frozen whole fish supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, 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 Whole Fish Imports

Imports in Asia

In 2023, purchases abroad of frozen whole fish increased by X% to X tons, rising for the second year in a row after four years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, frozen whole fish imports dropped to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2023, China (X tons) was the key importer of frozen whole fish, comprising X% of total imports. It was distantly followed by Thailand (X tons), South Korea (X tons), Japan (X tons) and Vietnam (X tons), together achieving a X% share of total imports. The following importers - the Philippines (X tons) and Malaysia (X tons) - together made up X% of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%), the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Vietnam (X%), Thailand (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Japan (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen whole fish importing markets in Asia were China ($X), Japan ($X) and Thailand ($X), together accounting for X% of total imports. South Korea, Vietnam, the Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform