Eastern Asia: Market for Flours, Meals And Pellets Of Fish 2023

Market Size for Flours, Meals And Pellets Of Fish in Eastern Asia

In 2021, the East Asian fish meals and pellet market increased by 1.2% to $X, rising for the third consecutive year after six years of decline. Overall, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish in Eastern Asia

In value terms, fish meals and pellet production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in Eastern Asia

In 2021, overseas shipments of flours, meals and pellets of fish were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2017 with an increase of 69% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, fish meals and pellet exports expanded remarkably to $X in 2021. In general, exports, however, continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of 22%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) represented roughly 98% of total exports in 2021.

China was also the fastest-growing in terms of the flours, meals and pellets of fish exports, with a CAGR of -2.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest fish meals and pellet supplier in Eastern Asia.

In China, fish meals and pellet exports decreased by an average annual rate of -3.0% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 70%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -0.7% per year.

Imports of Flours, Meals And Pellets Of Fish

Imports in Eastern Asia

In 2021, supplies from abroad of flours, meals and pellets of fish increased by 12% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a slight setback. The pace of growth appeared the most rapid in 2017 when imports increased by 52%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, fish meals and pellet imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a slight reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) was the major importer of flours, meals and pellets of fish, making up 74% of total imports. Democratic People's Republic of Korea (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by China (8.4%). Taiwan (Chinese) (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet imports into Japan stood at -2.5%. At the same time, Democratic People's Republic of Korea (+64.9%) and China (+2.3%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +64.9% from 2012-2021. By contrast, Taiwan (Chinese) (-3.6%) illustrated a downward trend over the same period. While the share of Democratic People's Republic of Korea (+15 p.p.) and China (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-9.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported flours, meals and pellets of fish in Eastern Asia, comprising 73% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Democratic People's Republic of Korea, with a 7.1% share.

In Japan, fish meals and pellet imports declined by an average annual rate of -3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+17.4% per year) and Democratic People's Republic of Korea (+71.3% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 5.4% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 30% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by China (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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