Eastern Asia: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Eastern Asia

In 2023, the East Asian 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 indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2023 and is likely to see steady growth in years to come.

Production of Frozen Fish and Seafood in Eastern Asia

In value terms, frozen fish and seafood production reached $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 consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports in Eastern Asia

In 2023, after two years of growth, there was decline in shipments abroad of frozen fish and seafood, when their volume decreased by X% to X tons. Overall, exports recorded a slight reduction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish and seafood exports dropped to $X in 2023. In general, exports continue to indicate a mild setback. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

China represented the largest exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons), together creating a X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Korea and Japan increased by X and X percentage points, respectively.

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

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

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then contracted 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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Imports of Frozen Fish and Seafood

Imports in Eastern Asia

In 2023, purchases abroad of frozen fish and seafood increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

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% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

China represented the largest importer of frozen fish and seafood in Eastern Asia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%). Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) took a little 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, South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (X%) and Hong Kong SAR (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, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, China, with a CAGR of X%, recorded 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

The import price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform