Indonesia: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Indonesia

After two years of growth, the Indonesian frozen fish and seafood market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen fish and seafood consumption peaked at $X in 2022, and then reduced in the following year.

Production of Frozen Fish and Seafood in Indonesia

In value terms, frozen fish and seafood production expanded slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports from Indonesia

In 2023, after two years of decline, there was growth in overseas shipments of frozen fish and seafood, when their volume increased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, frozen fish and seafood exports fell modestly to $X in 2023. The total export 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 pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then declined in the following year.

Exports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main destinations of frozen fish and seafood exports from Indonesia, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for frozen fish and seafood exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2023, waning by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Indonesia

After two years of growth, supplies from abroad of frozen fish and seafood decreased by X% to X tons in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, frozen fish and seafood imports shrank dramatically to $X in 2023. Over the period under review, total imports indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest frozen fish and seafood supplier to Indonesia, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, the largest frozen fish and seafood suppliers to Indonesia were China ($X), Russia ($X) and the United States ($X), with a combined X% share of total imports. South Korea, Japan, Argentina, Tunisia, Norway, Seychelles, Pakistan, Malaysia, Vietnam and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Tunisia, with a CAGR of X%, saw 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

The average frozen fish and seafood import price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, frozen fish and seafood import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2022, and then fell modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform