Australian seafood market trends

Published 2020년 12월 21일

Tridge summary

The article highlights the dynamic trends in Australia's fishery trade and consumption patterns, with a focus on seaweed and seafood. It reveals a significant surge in seaweed snack demand, primarily driven by health perceptions and the growing popularity of Korean seasoned seaweed. Despite a decline in the overall fishery trade, Australia's trade deficit has seen partial recovery, largely due to increasing imports. The trade with Korea, while being a significant portion of the total imports, is dominated by laver exports to Australia, which have shown steady growth. On the other hand, exports of salmon, toothfish, and other seafood items have experienced mixed trends. The Australian fresh seafood market is on a growth trajectory, fueled by health and ethical consumption trends, with crustaceans seeing the highest increase among the seafood categories. Furthermore, the article notes the influence of increasing migration from Asian countries on the demand for Asian food and seafood in Australia, contributing to a rise in seafood consumption.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Demand for seaweed snacks surged as'seaweed = health food' Australia does not produce seaweed, so imports are highly dependent on it. Korean imports increase in distribution, such as seaweed for seaweed, seaweed for sushi, seaweed snacks, and kimjaban… Average annual average of 16.5%↑ from 2013 to 2019 Fishery trade structure focused on imports Australia's fishery trade has declined by an average of 0.3% annually, reaching $2.61 billion in 2019. Exports are about $1.09 billion and imports are about $1.52 billion, showing a trade structure centered on imports of seafood. The overall trend of imports and exports has repeatedly increased and decreased, but the trade deficit, which reached $600 million, has partially recovered since 2015, maintaining an average of $400 million. As of 2017, Australia exports $1.1 billion a year of seafood to about 80 countries around the world. The major seafood exporters are Asian countries, and out of the top 10 exporting countries as of 2019, 8 ...

Source: Fisheco