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

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

In 2023, the East Asian market for frozen, dried and smoked fish increased by X% to $X, rising for the seventh year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in years to come.

Production of Frozen, Dried And Smoked Fish in 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports in Eastern Asia

In 2023, the amount of frozen, dried and smoked fish exported in Eastern Asia reduced slightly to X tons, approximately mirroring 2022 figures. Overall, exports recorded a mild shrinkage. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen, dried and smoked fish exports fell to $X in 2023. In general, exports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of around X tons, which amounted to X% of total exports. South Korea (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%) and Japan (X%).

Exports from China decreased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, frozen, dried and smoked fish exports shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted 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 China ($X per ton), while Japan ($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 other leaders experienced mixed trends in the export price figures.

Imports of Frozen, Dried And Smoked Fish

Imports in Eastern Asia

In 2023, supplies from abroad of frozen, dried and smoked fish increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import 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 in certain years. The most prominent rate of growth was recorded in 2022 with an increase of X%. The volume of import peaked in 2023 and is likely to see gradual growth in years to come.

In value terms, frozen, dried and smoked fish imports dropped to $X in 2023. Total imports indicated a measured increase 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2023, China (X tons) was the major importer of frozen, dried and smoked fish, committing X% of total imports. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together took near X% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the frozen, dried and smoked fish imports, with a CAGR of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. 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 Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total imports.

Among the main importing countries, China, 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 2023, the import price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform