ASEAN: Frozen Fish Market 2024

Frozen Fish Market Size in ASEAN

The ASEAN frozen fish market expanded modestly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Frozen Fish Production in ASEAN

In value terms, frozen fish production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports in ASEAN

In 2022, overseas shipments of frozen fish were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, frozen fish exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Indonesia (X tons), Myanmar (X tons) and Thailand (X tons), together generating a X% share of total exports. Malaysia (X tons) and the Philippines (X tons) took a little share of total exports.

Exports from Vietnam increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), the Philippines (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Thailand (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Vietnam, frozen fish exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Frozen Fish Imports

Imports in ASEAN

In 2022, imports of frozen fish in ASEAN stood at X tons, surging by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, frozen fish imports soared to $X in 2022. Total imports indicated a moderate 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, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand represented the main importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Vietnam (X tons), the Philippines (X tons), Malaysia (X tons) and Indonesia (X tons), together achieving a X% share of total imports. Singapore (X tons) took a minor share of total imports.

Thailand experienced a relatively flat trend pattern with regard to volume of imports of frozen fish. At the same time, Vietnam (X%), Malaysia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported frozen fish in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

In Thailand, frozen fish imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the Philippines (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of X% 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 2019 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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