Australia and Oceania: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Australia and Oceania

In 2023, after three years of growth, there was significant decline in the frozen fish and seafood market in Australia and Oceania, when its value decreased by X% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2022, and then declined in the following year.

Production of Frozen Fish and Seafood in Australia and Oceania

In value terms, frozen fish and seafood production amounted to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; afterwards, it flattened through to 2023.

Exports of Frozen Fish and Seafood

Exports in Australia and Oceania

In 2023, the amount of frozen fish and seafood exported in Australia and Oceania amounted to X tons, standing approx. at the previous year. Overall, exports, however, recorded a slight descent. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports amounted to $X in 2023. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand represented the largest exporter of frozen fish and seafood in Australia and Oceania, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. Micronesia (X tons) ranks second in terms of the total exports with a X% share, followed by Papua New Guinea (X%) and Fiji (X%). The following exporters - Australia (X tons) and Solomon Islands (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Micronesia (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, New Zealand ($X) remains the largest frozen fish and seafood supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Micronesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in New Zealand was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and Micronesia (X% per year).

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, leveling off at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then shrank 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 Australia ($X per ton), while Micronesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Papua New Guinea (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Fish and Seafood

Imports in Australia and Oceania

In 2023, frozen fish and seafood imports in Australia and Oceania fell to X tons, which is down by X% compared with 2022 figures. Overall, imports recorded a noticeable slump. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, frozen fish and seafood imports dropped to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Australia represented the major importer of frozen fish and seafood in Australia and Oceania, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. Papua New Guinea (X tons) ranks second in terms of the total imports with a X% share, followed by American Samoa (X%), Fiji (X%) and New Zealand (X%). Solomon Islands (X tons) and Samoa (X tons) followed a long way behind the leaders.

Imports into Australia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Solomon Islands (X%), Papua New Guinea (X%) and Samoa (X%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2023. By contrast, American Samoa (X%), New Zealand (X%) and Fiji (X%) illustrated a downward trend over the same period. Papua New Guinea (X p.p.), Australia (X p.p.) and Solomon Islands (X p.p.) significantly strengthened its position in terms of the total imports, while Fiji saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported frozen fish and seafood in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by American Samoa, with a X% share.

In Australia, frozen fish and seafood imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and American Samoa (X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2023, approximately mirroring the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked 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 Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform