Eastern Asia: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Eastern Asia

For the third consecutive year, the East Asian frozen cuttlefishes market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption continues to indicate moderate growth. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Frozen Cuttlefishes Production in Eastern Asia

In value terms, frozen cuttlefishes production amounted to $X in 2022 estimated in export price. The total production indicated a buoyant increase 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, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Frozen Cuttlefishes Exports

Exports in Eastern Asia

In 2022, the amount of frozen cuttlefishes exported in Eastern Asia dropped rapidly to X tons, shrinking by X% on the previous year's figure. Overall, exports faced a sharp setback. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports dropped to $X in 2022. In general, exports faced a dramatic slump. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of about X tons, which finished at X% of total exports. Democratic People's Republic of Korea (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (X%). The following exporters - South Korea (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the frozen cuttlefishes exports, with a CAGR of X% from 2012 to 2022. Democratic People's Republic of Korea (X%), Hong Kong SAR (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen cuttlefishes supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price showed resilient growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in Eastern Asia

In 2022, purchases abroad of frozen cuttlefishes increased by X% to X tons, rising for the third year in a row after five years of decline. Overall, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes imports surged to $X in 2022. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons) and Democratic People's Republic of Korea (X tons) dominates imports structure, together committing X% of total imports. The following importers - South Korea (X tons), Japan (X tons) and Hong Kong SAR (X tons) - each reached an X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Democratic People's Republic of Korea (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest frozen cuttlefishes importing markets in Eastern Asia were China ($X), Democratic People's Republic of Korea ($X) and South Korea ($X), together accounting for X% of total imports.

Democratic People's Republic of Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, remaining constant against the previous year. Overall, the import price, however, posted measured growth. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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