Vietnam: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2024

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Vietnam

In 2022, after three years of decline, there was growth in the Vietnamese meat and fish extracts market, when its value increased by X% to $X. Over the period under review, consumption, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Vietnam

In value terms, meat and fish extracts production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports from Vietnam

In 2022, shipments abroad of extracts and juices of meat, fish, crustaceans and molluscs decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, saw a strong increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, meat and fish extracts exports reduced sharply to $X in 2022. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

South Korea (X tons) was the main destination for meat and fish extracts exports from Vietnam, accounting for a X% share of total exports. Moreover, meat and fish extracts exports to South Korea exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

In value terms, South Korea ($X) remains the key foreign market for extracts and juices of meat, fish, crustaceans and molluscs exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average meat and fish extracts export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Malaysia ($X per ton) and Germany ($X per ton), while the average price for exports to South Korea ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports into Vietnam

In 2022, purchases abroad of extracts and juices of meat, fish, crustaceans and molluscs increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, meat and fish extracts imports surged to $X in 2022. In general, imports showed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), New Zealand (X tons) and Japan (X tons) were the main suppliers of meat and fish extracts imports to Vietnam, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest meat and fish extracts suppliers to Vietnam were China ($X), New Zealand ($X) and Japan ($X), together accounting for X% of total imports.

Among the main suppliers, New Zealand, 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

In 2022, the average meat and fish extracts import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, posted a mild increase. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Spain ($X per ton) and South Korea ($X per ton), while the price for China ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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