Asia-Pacific: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Asia-Pacific

In 2023, the Asia-Pacific frozen fish and seafood market increased by X% to $X, rising for the seventh year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level in 2023 and is likely to see steady growth in years to come.

Production of Frozen Fish and Seafood in Asia-Pacific

In value terms, frozen fish and seafood production expanded modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Frozen Fish and Seafood

Exports in Asia-Pacific

In 2023, overseas shipments of frozen fish and seafood decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, frozen fish and seafood exports dropped to $X in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then reduced in the following year.

Exports by Country

The biggest shipments were from China (X tons), Vietnam (X tons) and India (X tons), together accounting for X% of total export. Indonesia (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%) and Taiwan (Chinese) (X%). Japan (X tons), Pakistan (X tons), New Zealand (X tons), Thailand (X tons) and Myanmar (X tons) took a little share of total exports.

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, the largest frozen fish and seafood supplying countries in Asia-Pacific were China ($X), India ($X) and Vietnam ($X), with a combined X% share of total exports. Indonesia, South Korea, Taiwan (Chinese), Thailand, Japan, New Zealand, Pakistan and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Pakistan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, waning by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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.

Imports of Frozen Fish and Seafood

Imports in Asia-Pacific

In 2023, the amount of frozen fish and seafood imported in Asia-Pacific shrank slightly to X tons, approximately reflecting the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then fell in the following year.

In value terms, frozen fish and seafood imports shrank to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2023, China (X tons) was the largest importer of frozen fish and seafood, comprising X% of total imports. Thailand (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), South Korea (X%) and Vietnam (X%). The following importers - the Philippines (X tons) and Malaysia (X tons) - each finished at a X% share of total imports.

China was also the fastest-growing in terms of the frozen fish and seafood imports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%), the Philippines (X%) and South Korea (X%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. By contrast, Japan (X%) and Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish and seafood importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Thailand, Vietnam, Malaysia and the Philippines lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then fell 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