Australia and Oceania: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Australia and Oceania

In 2023, the frozen fish and seafood market in Australia and Oceania decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced in the following year.

Production of Frozen Fish and Seafood in Australia and Oceania

In value terms, frozen fish and seafood production totaled $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Exports of Frozen Fish and Seafood

Exports in Australia and Oceania

In 2023, frozen fish and seafood exports in Australia and Oceania stood at X tons, growing by X% on 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish and seafood exports reduced modestly to $X in 2023. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, New Zealand (X tons), distantly followed by Micronesia (X tons), Papua New Guinea (X tons), Australia (X tons) and Fiji (X tons) represented the main exporters of frozen fish and seafood, together achieving X% of total exports. Solomon Islands (X tons) took a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Micronesia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, New Zealand ($X) remains the largest frozen fish and seafood supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Micronesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in New Zealand was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and Micronesia (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then dropped slightly 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 Australia ($X per ton), while Micronesia ($X per ton) was amongst the lowest.

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

Imports of Frozen Fish and Seafood

Imports in Australia and Oceania

In 2023, imports of frozen fish and seafood in Australia and Oceania fell to X tons, waning by X% against 2022. Overall, imports saw a perceptible decline. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports failed to regain momentum.

In value terms, frozen fish and seafood imports reduced to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Australia was the key importer of frozen fish and seafood in Australia and Oceania, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. Papua New Guinea (X tons) ranks second in terms of the total imports with a X% share, followed by American Samoa (X%), Fiji (X%) and New Zealand (X%). The following importers - Solomon Islands (X tons) and Samoa (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to frozen fish and seafood imports into Australia stood at X%. At the same time, Solomon Islands (X%), Papua New Guinea (X%) and Samoa (X%) displayed positive paces of growth. Moreover, Solomon Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2023. By contrast, American Samoa (X%), New Zealand (X%) and Fiji (X%) illustrated a downward trend over the same period. While the share of Papua New Guinea (X p.p.), Australia (X p.p.) and Solomon Islands (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Fiji (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported frozen fish and seafood in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by American Samoa, with a X% share.

In Australia, frozen fish and seafood imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and American Samoa (X% per year).

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, flattening at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then fell modestly 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 Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform