Extracts and juices of meat, fish and aquatic invertebrates market in Australia

Earlier Report Observations

The Australian market for extracts and juices of meat, fish and aquatic invertebrates began at 392.8 thousand tons in 2018, supported by growing aquaculture diversification and government investments in research to utilize seafood by-products. Market volume then contracted to 327.4 thousand tons in 2019 and fell sharply to 254.4 thousand tons in 2020, as the COVID-19 pandemic disrupted global supply chains and reduced import flows.

After reaching a low of 232.3 thousand tons in 2021, the market stabilized at 238.2 thousand tons in 2022, sustained by continued aquaculture growth and innovation in value-added products. A strong rebound followed in 2023, with the market expanding to 395.7 thousand tons.

Production extracts and juices of meat, fish and aquatic invertebrates in Australia

In kind, 2018-2021, t

From 2018 to 2021, Australia ranked 30th globally in the production of extracts and juices from meat, fish, and aquatic invertebrates.

Top producers of extracts and juices of meat, fish and aquatic invertebrates, 2018-2021

World map of production of extracts and juices of meat, fish and aquatic invertebrates, 2018-2021

Following two years of growth, Australia's production of extracts and juices from meat, fish, and aquatic invertebrates declined. In 2021, output reached 78.6 t, marking a 21.2% decrease from the previous year. Over the 2018-2021 period, production fell by 17.1%, with a compound annual growth rate of -6.1%. The peak was recorded in 2020 at 99.8 t, while the largest annual increase occurred in 2019 at 3.5%.

Annual dynamics of production in Australia in kind, 2018-2021, t

Exports extracts and juices of meat, fish and aquatic invertebrates from Australia

Exports in kind, t

Export volumes showed an unstable trend during this period. They reached their lowest point in 2019 at 22.6 t and peaked in 2021 at 57.3 t, representing a 2.5-fold increase. The 2021 figure reflected a substantial year-on-year growth of 122.9% compared to 2020. The most significant decline was recorded in 2019 at 36.2%.

Annual dynamics of product's exports from Australia in kind, 2018-2021, t

Between 2018 and 2021, New Zealand remained the dominant export destination in volume terms, accounting for 71.6% of total flows, with the remainder distributed across various other markets.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Australia in kind, 2018-2021

Exports in value, K $ US

Export values displayed volatility throughout the timeframe. They bottomed in 2019 at 99 K $ US and peaked in 2020 at 616 K $ US, a 6.2-fold difference. In 2021, exports amounted to 287 K $ US, showing a sharp decrease of 53.4% from 2020. The largest decline occurred in 2019 at 65.6%, while the most significant increase was recorded in 2020 at 521.5%.

Annual dynamics of product's exports from Australia in value, 2018-2021, K $ US

From 2018 to 2021, the core markets for exports in value terms were New Zealand (30.9%), China (26.3%), and the United States (21.5%), together representing 78.6% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Australia in value, 2018-2021

Imports extracts and juices of meat, fish and aquatic invertebrates to Australia

Imports in kind, t

After two years of decline, imports of extracts and juices from meat, fish, and aquatic invertebrates into Australia increased. In 2021, imports totalled 211.0 t, up 17.0% from 2020. Over the 2018-2021 period, imports decreased by 36.7%, with a compound annual growth rate of -14.1%. The lowest volume was recorded in 2020 at 180.3 t, with the largest annual decline occurring that year at 28.4%.

Annual dynamics of product's imports to Australia in kind, 2018-2021, t

Between 2018 and 2021, the primary suppliers of extracts and juices from meat, fish, and aquatic invertebrates to Australia in volume terms were Thailand (49.7%), the United States (16.5%), and New Zealand (14.2%), jointly accounting for 80.5% of total imports.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Australia in kind, 2018-2021

Imports in value, K $ US

Import values of extracts and juices from meat, fish, and aquatic invertebrates into Australia rose for the second consecutive year. In 2021, imports reached 2 081 K $ US, reflecting a 32.0% increase year-on-year. Over the 2018-2021 period, imports decreased by 44%, with a compound annual growth rate of -17.6%. The minimum value was recorded in 2019 at 1 569 K $ US, with the largest decline that year at 57.8%.

Annual dynamics of product's imports to Australia in value, 2018-2021, K $ US

From 2018 to 2021, the leading sources for imports in value terms were Thailand (31.2%), the United States (26.8%), and New Zealand (22.2%), which together accounted for 80.2% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Australia in value, 2018-2021