Indonesia: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Indonesia

After two years of growth, the Indonesian frozen fish and seafood market decreased by X% to $X in 2023. The market 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 in certain years. Frozen fish and seafood consumption peaked at $X in 2022, and then dropped in the following year.

Production of Frozen Fish and Seafood in Indonesia

In value terms, frozen fish and seafood production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports from Indonesia

In 2023, after two years of decline, there was growth in overseas shipments of frozen fish and seafood, when their volume increased by X% to X tons. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish and seafood exports fell modestly to $X in 2023. The total export 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 pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then declined in the following year.

Exports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main destinations of frozen fish and seafood exports from Indonesia, with a combined X% share of total exports. Vietnam, Thailand, Taiwan (Chinese), Malaysia and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for frozen fish and seafood exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the average frozen fish and seafood export price amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Indonesia

In 2023, after two years of growth, there was significant decline in supplies from abroad of frozen fish and seafood, when their volume decreased by X% to X tons. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, frozen fish and seafood imports declined remarkably to $X in 2023. Overall, total imports indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of frozen fish and seafood to Indonesia, with a X% share of total imports. Moreover, frozen fish and seafood imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was taken by Japan (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, the largest frozen fish and seafood suppliers to Indonesia were China ($X), Russia ($X) and the United States ($X), together comprising X% of total imports. South Korea, Japan, Chile, Tunisia, Norway, Seychelles, Pakistan, Malaysia, Vietnam and India lagged somewhat behind, together comprising a further X%.

Tunisia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, leveling off at the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform