ASEAN: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in ASEAN

The ASEAN frozen fish meat market contracted rapidly to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption, however, saw buoyant growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Frozen Fish Meat Production in ASEAN

In value terms, frozen fish meat production fell to $X in 2023 estimated in export price. In general, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Frozen Fish Meat Exports

Exports in ASEAN

In 2023, overseas shipments of frozen fish meat decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, frozen fish meat exports dropped to $X in 2023. Overall, exports recorded a slight shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Vietnam prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. Indonesia (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together took near X% share of total exports. The following exporters - Malaysia (X tons) and the Philippines (X tons) - each recorded a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to frozen fish meat exports from Vietnam stood at X%. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%), Malaysia (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam and the Philippines increased by X and X percentage points, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam was relatively modest. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Frozen Fish Meat Imports

Imports in ASEAN

In 2023, purchases abroad of frozen fish meat decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then shrank markedly in the following year.

In value terms, frozen fish meat imports declined dramatically to $X in 2023. Overall, imports, however, showed a strong increase. The growth pace was the most rapid in 2014 with an increase of X%. The level of import peaked at $X in 2022, and then dropped rapidly in the following year.

Imports by Country

Thailand was the largest importing country with an import of about X tons, which recorded X% of total imports. It was distantly followed by Malaysia (X tons), the Philippines (X tons) and Vietnam (X tons), together committing a X% share of total imports. The following importers - Indonesia (X tons) and Singapore (X tons) - together made up X% of total imports.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Singapore (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. The Philippines experienced a relatively flat trend pattern. By contrast, Vietnam (X%) illustrated a downward trend over the same period. Thailand (X p.p.), the Philippines (X p.p.), Malaysia (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Vietnam saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

In Thailand, frozen fish meat imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, 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