South-Eastern Asia: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in South-Eastern Asia

In 2023, the Southeast Asian market for frozen, dried and smoked fish decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2022, and then reduced modestly in the following year.

Production of Frozen, Dried And Smoked Fish in South-Eastern Asia

In value terms, frozen, dried and smoked fish production expanded slightly to $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 pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. 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, Dried And Smoked Fish

Exports in South-Eastern Asia

Frozen, dried and smoked fish exports reduced to X tons in 2023, with a decrease of X% on the previous year's figure. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, frozen, dried and smoked fish exports reduced to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Vietnam represented the key exporting country with an export of about X tons, which amounted to X% of total exports. Indonesia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Myanmar (X%) and Thailand (X%). Malaysia (X tons) and the Philippines (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to frozen, dried and smoked fish exports from Vietnam stood at X%. At the same time, Myanmar (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%), Indonesia (X%) and Thailand (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen, dried and smoked fish supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Vietnam, frozen, dried and smoked fish exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then reduced slightly 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 Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Imports of Frozen, Dried And Smoked Fish

Imports in South-Eastern Asia

In 2023, supplies from abroad of frozen, dried and smoked fish decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen, dried and smoked fish imports contracted to $X in 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Thailand was the major importer of frozen, dried and smoked fish in South-Eastern Asia, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. It was distantly followed by Vietnam (X tons), the Philippines (X tons), Malaysia (X tons) and Indonesia (X tons), together committing a X% share of total imports. Singapore (X tons) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to frozen, dried and smoked fish imports into Thailand stood at X%. At the same time, the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Singapore and Indonesia experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Philippines and Malaysia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen, dried and smoked fish importing markets in South-Eastern Asia were Thailand ($X), Vietnam ($X) and the Philippines ($X), with a combined X% share of total imports.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, standing approx. at the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform