Eastern Asia: Market for Fresh Or Chilled Salmonoids Meat 2024

Market Size for Fresh Or Chilled Salmonoids Meat in Eastern Asia

The East Asian market for fresh or chilled salmonoids meat reduced to $X in 2022, waning by -4.2% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.1% against 2020 indices. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Fresh Or Chilled Salmonoids Meat in Eastern Asia

In value terms, fresh or chilled salmonoids meat production fell to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.5% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Fresh Or Chilled Salmonoids Meat

Exports in Eastern Asia

In 2022, overseas shipments of fresh or chilled salmonoids meat were finally on the rise to reach X kg after three years of decline. Over the period under review, exports, however, faced a precipitous slump. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fresh or chilled salmonoids meat exports skyrocketed to $X in 2022. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 172% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) prevails in exports structure, recording X kg, which was approx. 96% of total exports in 2022. South Korea (X kg) followed a long way behind the leaders.

Taiwan (Chinese) was also the fastest-growing in terms of the fresh or chilled salmonoids meat exports, with a CAGR of -25.9% from 2012 to 2022. South Korea (-38.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese) and South Korea increased by +94 and +3.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fresh or chilled salmonoids meat supplying countries in Eastern Asia were South Korea ($X) and Taiwan (Chinese) ($X).

In terms of the main exporting countries, South Korea, with a CAGR of -49.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, reducing by -98.4% against the previous year. Over the period under review, the export price recorded a sharp reduction. The growth pace was the most rapid in 2020 when the export price increased by 94%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-19.0%).

Imports of Fresh Or Chilled Salmonoids Meat

Imports in Eastern Asia

Fresh or chilled salmonoids meat imports dropped dramatically to X kg in 2022, declining by -66.1% compared with the year before. Overall, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 679%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, fresh or chilled salmonoids meat imports contracted sharply to $X in 2022. Over the period under review, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 1,183% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the major importing country with an import of around X kg, which accounted for 68% of total imports. It was distantly followed by Taiwan (Chinese) (X kg), creating a 32% share of total imports.

Hong Kong SAR was also the fastest-growing in terms of the fresh or chilled salmonoids meat imports, with a CAGR of +22.8% from 2012 to 2022. At the same time, Taiwan (Chinese) (+7.8%) displayed positive paces of growth. While the share of Hong Kong SAR (+45 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (-6.7 p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported fresh or chilled salmonoids meat in Eastern Asia, comprising 87% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total imports.

In Hong Kong SAR, fresh or chilled salmonoids meat imports increased at an average annual rate of +29.8% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 55% against the previous year. In general, the import price saw a strong increase. The pace of growth was the most pronounced in 2021 an increase of 65%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.8%).

Source: IndexBox Platform

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