Vietnam: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Vietnam

The Vietnamese market for frozen, dried and smoked fish rose significantly to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Production of Frozen, Dried And Smoked Fish in Vietnam

In value terms, frozen, dried and smoked fish production rose 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; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Frozen, Dried And Smoked Fish

Exports from Vietnam

After two years of growth, overseas shipments of frozen, dried and smoked fish decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, frozen, dried and smoked fish exports shrank to $X in 2023. Over the period under review, total exports indicated noticeable growth 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

China (X tons), the United States (X tons) and Malaysia (X tons) were the main destinations of frozen, dried and smoked fish exports from Vietnam, with a combined X% share of total exports. The Philippines, Brazil, Mexico, Canada, the UK, Japan, Australia, the Netherlands, South Korea and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for frozen, dried and smoked fish exported from Vietnam were the United States ($X), China ($X) and Japan ($X), with a combined X% share of total exports. South Korea, Canada, Australia, the UK, the Philippines, Germany, Malaysia, the Netherlands, Brazil and Mexico lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average export price for frozen, dried and smoked fish amounted to $X per ton, waning 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 2018 an increase of X%. The export price peaked at $X per ton in 2022, and then declined modestly in the following year.

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

Imports of Frozen, Dried And Smoked Fish

Imports into Vietnam

In 2023, purchases abroad of frozen, dried and smoked fish decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports recorded a pronounced slump. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, frozen, dried and smoked fish imports shrank to $X in 2023. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Norway (X tons), China (X tons) and Chile (X tons) were the main suppliers of frozen, dried and smoked fish imports to Vietnam, with a combined X% share of total imports. The United States, India, the Philippines, the UK, Poland, Turkey, Ecuador, the Netherlands, New Zealand and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, India ($X), Norway ($X) and China ($X) appeared to be the largest frozen, dried and smoked fish suppliers to Vietnam, together comprising X% of total imports. Chile, Ecuador, the United States, Turkey, Poland, the Philippines, the UK, New Zealand, the Netherlands and Japan lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, recorded the highest growth rate of 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

In 2023, the average import price for frozen, dried and smoked fish amounted to $X per ton, declining by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform