Myanmar: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Myanmar

The Myanmar's frozen fish meat market reduced sharply to $X in 2023, waning by X% against the previous year. In general, consumption recorded a sharp downturn. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Frozen Fish Meat Production in Myanmar

In value terms, frozen fish meat production stood at $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 observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Frozen Fish Meat Exports

Exports from Myanmar

In 2023, exports of frozen fish meat from Myanmar soared to X tons, growing by X% compared with the previous year's figure. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, frozen fish meat exports surged to $X in 2023. In general, exports saw a significant expansion. The growth pace was the most rapid in 2015 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons), Vietnam (X tons) and Singapore (X tons) were the main destinations of frozen fish meat exports from Myanmar, together accounting for X% of total exports. South Korea, China, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for frozen fish meat exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by China, with a X% share.

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

Export Prices by Country

In 2023, the average frozen fish meat export price amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into Myanmar

In 2023, imports of frozen fish meat into Myanmar dropped sharply to X tons, declining by X% against 2022 figures. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, frozen fish meat imports shrank notably to $X in 2023. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then dropped rapidly in the following year.

Imports by Country

In 2023, Norway (X tons) constituted the largest supplier of frozen fish meat to Myanmar, accounting for a X% share of total imports. Moreover, frozen fish meat imports from Norway exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold.

From 2012 to 2023, the average annual rate of growth in terms of volume from Norway totaled X%.

In value terms, Norway ($X) constituted the largest supplier of frozen fish meat to Myanmar, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from Norway stood at X%.

Import Prices by Country

In 2023, the average frozen fish meat import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Thailand stood at $X per ton.

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

Source: IndexBox Platform