Vietnam: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Vietnam

The Vietnamese seafood meals and pellets market was estimated at $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Seafood meals and pellets consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Vietnam

In value terms, seafood meals and pellets production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Vietnam

In 2022, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by X% to X tons, rising for the second consecutive year after four years of decline. Overall, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, seafood meals and pellets exports soared to $X in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for seafood meals and pellets exports from Vietnam, with a X% share of total exports. Moreover, seafood meals and pellets exports to China exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

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

In value terms, China ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

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

Export Prices by Country

In 2022, the average seafood meals and pellets export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Thailand ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Vietnam

In 2022, the amount of flours, meals and pellets of fish or of crustaceans and molluscs imported into Vietnam expanded rapidly to X tons, increasing by X% against 2021 figures. Overall, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, seafood meals and pellets imports surged to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest seafood meals and pellets supplier to Vietnam, accounting for a X% share of total imports. Moreover, seafood meals and pellets imports from India exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by Peru (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Peru (X% per year).

In value terms, India ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Vietnam, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Peru (X% per year).

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X%. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($X per ton) and Peru ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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