South-Eastern Asia: Preserved Herring Market 2024

Preserved Herring Market Size in South-Eastern Asia

In 2023, the Southeast Asian preserved herring market increased by less than X% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a prominent 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, consumption increased by X% against 2021 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Preserved Herring Production in South-Eastern Asia

In value terms, preserved herring production declined to $X in 2023 estimated in export price. The total production indicated a tangible expansion 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, production increased by X% against 2021 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Preserved Herring Exports

Exports in South-Eastern Asia

Preserved herring exports contracted sharply to X tons in 2023, declining by X% on the previous year. Over the period under review, exports showed a abrupt slump. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, preserved herring exports contracted rapidly to $X in 2023. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam represented the main exporter of herrings (prepared or preserved) in South-Eastern Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Thailand (X tons), achieving a X% share of total exports. The Philippines (X tons) took a little share of total exports.

Exports from Vietnam decreased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Vietnam (X p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest preserved herring supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with an X% share of total exports.

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

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, growing by X% against 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% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

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 Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Preserved Herring Imports

Imports in South-Eastern Asia

In 2023, overseas purchases of herrings (prepared or preserved) increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, preserved herring imports surged to $X in 2023. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Singapore (X tons) and Vietnam (X tons) prevails in imports structure, together constituting X% of total imports. It was distantly followed by Thailand (X tons), making up a X% share of total imports. Lao People's Democratic Republic (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved herring importing markets in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Thailand ($X), with a combined X% share of total imports. Lao People's Democratic Republic lagged somewhat behind, accounting for a further X%.

In terms of the main importing countries, Lao People's Democratic Republic, 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

In 2023, the import price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a perceptible setback. The growth pace was the most rapid in 2015 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 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 Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform