Sector Trend Analysis – Fish and seafood trends in Indonesia

Note: This report includes forecasting data that is based on baseline historical data.

Executive summary

Indonesia ranked as the fortieth largest market for fish and seafood in the world in 2023, with a market value share of 0.3% and imports valued at US$632.0 million (363.7 kilotonnes).

The top three suppliers of fish and seafood to the Indonesia in 2023 were China, with a market value share of 21.0% (equivalent to US$133.0 million and 110.2 kilotonnes), followed by South Korea with a 7.7% market value share (US$48.9 million and 25.4 kilotonnes), and Norway with a 7'0% market value share (US$44.5 million and 9.5 kilotonnes).

Canada was the 10th largest supplier of fish and seafood products to the Indonesia, with a 3.5% market value share. Canada provided US$22.0 million and 2.4 kilotonnes of fish and seafood to Indonesia in 2023. But the compound annual growth rate (CAGR) growth declined at −8.4% in value from 2019 to 2023.

Indonesia's' total fish and seafood global imports increased by a CAGR of 10.8% from 2019 to 2023. Top imported fish and seafood products to the Indonesia were frozen mackerel, valued at US$112.7 million (105.1 kilotonnes), followed by frozen crab, even smoked, whether in shell or not, valued at US$67.1 million (8.9 kilotonnes), and flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates valued at US$63.6 million (121.1 kilotonnes) in 2023.

The Indonesia's top three fish and seafood imports from Canada were frozen crab, even smoked, (HS: 030614), which amounted to US$20.0 million and 1.9 million kilograms; frozen fillets of flat fish (HS: 030484), which amounted to US$753.8 thousands and 332.077 kilograms; and frozen shrimp and prawns, even smoked, (HS: 030617), which amounted to US$544.4 thousand and 99,218 kilograms in 2023.

The retail sales of fish and seafood in the Indonesia have seen a steady growth over the past few years. The retail sales of fish and seafood increased from US$13,199.6 million in 2019 to US$18,467.2 million in 2023, with a CAGR of 8.2%.

 

Trade overview

Indonesia ranked as the fortieth largest market for fish and seafood in the world in 2023, with a market value share of 0.3% and imports valued at US$632.0 million (363.7 kilotonnes). Over the period of 2019 to 2023, the Indonesia experienced an increase in imports from US$419.4 million in 2019 (246.9 kilotonnes), resulting in a CAGR of 10.8%.

Canada was the sixteenth largest market for fish and seafood in 2023, accounting for 1.9% of the total world market share. Canada's imports were valued at US$3,405.7 million and 500.5 kilotonnes in 2023, representing an increase compared to 2019, with a CAGR of 1.1% from 2019 to 2023.

Top ten global fish and seafood markets, in US$ millions, historical
Country 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
World 162,117.2 150,146.9 173,986.1 192,793.9 180,682.4 2.8 100
United States 23,520.8 22,976.7 30,181.4 32,384.5 27,126.8 3.6 15.0
China 18,413.6 15,267.6 17,760.3 23,347.1 23,245.8 6.0 12.9
Japan 15,564.6 13,577.9 14,386.4 15,432.2 13,847.2 −2.9 7.7
Spain 8,151.8 7,357.2 8,895.6 9,630.3 9,235.1 3.2 5.1
Italy 6,731.0 6,151.6 7,541.9 7,967.9 8,089.4 4.7 4.5
France 6,835.0 6,530.6 7,939.2 8,290.3 7,944.8 3.8 4.4
Sweden 5,270.6 5,072.4 5,612.1 6,150.6 6,497.2 5.4 3.6
Germany 5,984.1 6,078.4 6,088.5 6,659.5 6,440.0 1.9 3.6
South Korea 5,717.6 5,537.8 6,039.6 6,809.3 6,211.6 2.1 3.4
Netherlands 4,521.2 4,610.6 5,155.7 5,556.3 5,573.2 5.4 3.1
Canada 16 3,256.5 2,978.9 3,698.1 3,975.3 3,405.7 1.1 1.9
Indonesia 40 419.4 394.9 464.9 681.1 632.0 10.8 0.3

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

World's global fish and seafood in volume to Indonesia increased at a CAGR of 10.2% from 2019 to 2023 even though the world total to all countries declined in volume at a CAGR of −0.8% from 2019 to 2023.

Top ten global fish and seafood markets, volume measured in kilotonnes, historical
Country 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
World 40,002.5 38,257.3 40,083.6 40,552.7 38,683.1 −0.8 100
China 6,256.8 5,667.2 5,744.6 6,469.9 6,762.9 2.0 17.5
United States 2,825.9 2,907.5 3,268.4 3,330.8 3,121.9 2.5 8.1
Japan 2,464.4 2,251.3 2,199.6 2,219.8 2,154.0 −3.3 5.6
Thailand 2,047.6 2,149.3 2,114.7 2,171.2 1,920.5 −1.6 5.0
Spain 1,820.8 1,713.7 1,815.1 1,846.5 1,774.3 −0.6 4.6
South Korea 1,531.4 1,536.6 1,652.7 1,713.7 1,435.6 −1.6 3.7
France 1,229.5 1,226.3 1,353.4 1,337.8 1,232.9 0.1 3.2
Denmark 1,243.9 1,181.4 1,804.5 1,141.7 1,223.3 −0.4 3.2
Netherlands 1,066.9 1,104.7 1,175.4 1,158.9 1,157.0 2.0 3.0
Italy 1,145.0 1,046.8 1,152.0 1,145.3 1,133.2 −0.3 2.9
Canada 20 544.3 520.3 582.0 597.2 500.5 −2.1 1.3
Indonesia 25 246.9 254.7 247.1 339.6 363.7 10.2 0.9

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

The top three suppliers of fish and seafood to the Indonesia in 2023 were China, with a market value share of 21.0% (equivalent to US$133.0 million and 110.2 kilotonnes), followed by South Korea with a 7.7% market value share (US$48.9 million and 25.4 kilotonnes), and Norway with a 7.0% market value share (US$44.5 million and 9.5 kilotonnes). World's global fish and seafood in value to the Indonesia increased at a CAGR of 10.8% from 2019 to 2023.

Canada was the 10th largest supplier of fish and seafood products to the Indonesia, with a 3.5% market value share. Canada provided US$22.0 million and 2.4 kilotonnes of fish and seafood to Indonesia in 2023. But the CAGR growth declined at −8.4% in value from 2019 to 2023.

Top ten global suppliers of fish and seafood to Indonesia, in US$ million, historical
Country 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
World 419.4 394.9 464.6 681.0 631.9 10.8 100
China 68.5 48.5 63.4 116.2 133.0 18.0 21.0
South Korea 16.0 25.6 27.6 59.5 48.9 32.2 7.7
Norway 49.1 36.8 27.9 19.0 44.5 −2.4 7.0
Russia 9.9 9.8 22.4 69.2 40.4 42.1 6.4
Chile 19.5 15.0 17.3 33.3 31.0 12.3 4.9
United States 36.4 39.0 29.3 34.8 28.2 −6.2 4.5
Indonesia 7.2 6.2 26.7 20.4 26.3 38.3 4.2
Australia 10.2 7.8 32.6 33.8 25.2 25.4 4.0
Seychelles 15.4 22.6 11.4 12.5 23.1 10.7 3.7
Canada 31.3 9.7 19.0 46.1 22.0 −8.4 3.5

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

World's global fish and seafood in volume to the Indonesia increased at a CAGR of 10.1% from 2019 to 2023.

Canada ranked 25th largest supplier in volume to the Indonesia, but the CAGR growth increased at 1.1% from 2019 to 2023, and the market share is 0.7%.

Top ten global suppliers of fish and seafood to the Indonesia,volume measured in kilotonnes, historical
Country 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
World 247.2 254.4 247.0 339.6 363.5 10.1 100
China 51.7 31.2 46.6 87.4 110.2 20.8 30.3
Netherlands 19.9 62.5 37.4 35.2 38.0 17.6 10.5
South Korea 14.7 19.4 20.4 34.4 25.4 14.7 7.0
Pakistan 7.1 18.7 8.1 13.2 16.2 22.9 4.5
Denmark 0.0 1.2 7.8 15.0 15.9 N/C 4.4
United Kingdom 5.3 1.5 9.1 18.1 15.0 29.7 4.1
Seychelles 9.9 16.0 7.5 6.7 11.8 4.5 3.2
Japan 5.9 9.5 10.9 19.1 11.8 18.9

3.2

India 0.7 0.9 1.6 3.5 10.8 98.2 3.0
France 11.7 4.1 0.1 7.4 10.7 −2.2 2.9
Norway 12 9.7 8.2 9.8 4.5 9.5 −0.5 2.6
Canada 25 2.3 1.0 2.1 4.0 2.4 1.1 0.7

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

N/C: Not calculable

Indonesia's' total fish and seafood global imports increased by a CAGR of 10.8% from 2019 to 2023. Top imported fish and seafood products to the Indonesia were frozen mackerel, valued at US$112.7 million (105.1 kilotonnes), followed by frozen crab, even smoked, whether in shell or not, valued at US$67.1 million (8.9 kilotonnes), and flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates valued at US$63.6 million (121.1 kilotonnes) in 2023.

Indonesia's top ten fish and seafood imports, by product, in US$ millions, historical
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 418.8 394.1 464.2 680.7 631.5 10.8
030354 frozen mackerel 50.1 29.6 54.3 89.7 112.7 22.5
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 66.9 51.2 66.9 109.9 67.1 0.1
230120 flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption 54.7 81.7 62.0 61.4 63.6 3.8
030363 frozen cod 5.6 10.6 20.0 60.5 36.5 59.8
030617 frozen shrimp and prawns, even smoked, whether in shell or not, including shrimp and prawns in shell, cooked by steaming or by boiling in water 16.2 17.4 32.7 25.2 31.2 17.8
030214 fresh or chilled atlantic salmonand danube salmon 18.0 7.3 27.4 39.1 29.9 13.5
030211 fresh or chilled trout 19.7 17.9 8.1 9.8 21.6 2.3
030343 frozen skipjack or stripe-bellied bonito 26.0 34.9 28.1 38.1 21.4 −4.8
030499 frozen fish meat, nowhere else specified (excluding fillets) 3.9 3.1 5.5 14.8 19.9 50.3
121221 seaweeds and other algae, fresh, chilled, frozen or dried, whether or not ground, fit for human consumption 2.7 5.6 6.3 13.7 19.8 64.6

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

The Indonesia's top ten fish and seafood imports, by product, volume measured in kilotonnes historical
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 503.4 485.9 356.7 511.7 539.5 1.7
230120 flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption 104.6 122.0 96.5 112.0 121.1 3.7
030354 frozen mackerel 47.6 23.8 45.0 78.6 105.1 21.9
030353 frozen sardines, brisling or sprats 8.1 21.5 7.2 18.4 21.5 27.6
030359 frozen anchovies, indian mackerels, seerfishes, jacks, crevalles, silver pomfrets , pacific saury , scads, capelin, kawakawa, bonitos, marlins, sailfishes and spearfish 4.0 2.0 4.2 11.7 13.5 35.5
030343 frozen skipjack or stripe-bellied bonito 18.1 25.8 20.0 22.1 11.5 −10.7
030499 frozen fish meat, nowhere else specified (excluding fillets) 2.1 1.9 3.7 7.7 9.6 46.2
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 6.3 5.1 7.7 10.0 8.9 9.0
030363 frozen cod 1.6 3.1 5.6 12.1 7.9 49.1
150420 fats and oils of fish and their fractions, whether or not refined (excluding liver oils and chemically modified) 13.0 9.1 8.7 6.9 7.2 −13.7
030743 cuttle fish and squid, frozen, with or without shell 2.9 2.0 5.5 5.7 6.1 20.4

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

Top five global fish and seafood suppliers by top five products to Indonesia, in US$ millions

China

Indonesia's fish and seafood importing from China increased at a CAGR of 18.3% from 2019 to 2023. Top three products are frozen mackerel valued at US$95.8 million, cuttle fish and squid, frozen, with or without shell valued at US$12.5 million and prepared or preserved mackerel valued at US$5.9 million in 2023.

TheIndonesia imported top five fish and seafood from China, in US$ million
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 68.1 48.3 63.4 116.0 133.3 18.3
030354 frozen mackerel 34.7 15.1 32.4 67.1 95.8 28.9
030743 cuttle fish and squid, frozen, with or without shell 6.8 4.6 5.6 11.3 12.5 16.4
160415 prepared or preserved mackerel, whole or in pieces (excluding minced) 0.8 2.3 3.9 6.3 5.9 64.8
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 5.5 7.4 6.6 8.2 4.7 −3.9
030481 frozen fillets of pacific salmon, atlantic salmon and danube salmon 0.9 0.8 0.9 2.6 2.2 25.0

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

South Korea

Indonesia's fish and seafood importing from South Korea increased significantly at a CAGR of 32.6% from 2019 to 2023. Top three products are flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates valued at US$17.1 million, seaweeds and other algae, fresh, chilled, frozen or dried valued at US$16.3 million and frozen skipjack or stripe-bellied bonito valued at US$4.5 million in 2023.

Indonesia imported top five fish and seafood from South Korea, in US$ million
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 15.7 25.2 27.5 59.2 48.5 32.6
230120 flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption 11.4 12.3 12.3 13.6 17.1 10.7
121221 seaweeds and other algae, fresh, chilled, frozen or dried, whether or not ground, fit for human consumption 2.2 5.1 5.0 11.3 16.3 65.0
030343 frozen skipjack or stripe-bellied bonito 0.0 1.7 4.6 20.5 4.5 38.3
030357 frozen swordfish 0.0 0.1 0.1 0.6 2.8 203.7
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 0.0 0.3 0.0 0.0 1.8 N/C

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth

N/C: Not calculabe

Norway

Indonesia' fish and seafood importing from Norway decreased at a CAGR of −2.6% from 2019 to 2023. Top three products are fresh or chilled trout valued at US$18.1 million, frozen mackerel valued at US$6.8 million and fresh or chilled atlantic salmon and danube salmon valued at US$5.3 million in 2023.

Indonesia imported top five fish and seafood from Norway, in US$ million
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 49.3 36.8 27.8 19.0 44.4 −2.6
030211 fresh or chilled trout 19.7 17.7 3.7 2.1 18.1 −2.1
030354 frozen mackerel 5.8 7.1 12.4 2.1 6.8 4.1
030214 fresh or chilled atlantic salmon and danube salmon 10.1 1.3 1.1 1.1 5.3 −14.9
030363 frozen cod 0.0 0.0 0.0 0.9 3.7 N/C
230120 flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption 2.0 3.1 3.1 2.8 2. 9.7

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth

N/C: Not calculabe

Russia

Indonesia's fish and seafood importing from Russia increased significantly at a CAGR of 42.1% from 2019 to 2023. Top three products are frozen cod valued at US$23.7 million, frozen crab, even smoked, valued at US$11.0 million and frozen alaska pollack valued at US$4.0 million in 2023.

Indonesia imported top five fish and seafood from Russia, in US$ million
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2018-2022
Fish and Seafood Total 9.9 9.7 22.4 69.1 40.4 42.1
030363 frozen cod 5.4 8.8 19.7 50.6 23.7 44.7
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 2.6 0.5 1.0 11.3 11.0 43.4
030367 frozen alaska pollack 0.0 0.0 0.2 0.7 4.0 N/C
030364 frozen haddock 0.0 0.0 0.3 5.1 0.9 73.2
030311 frozen sockeye salmon [red salmon] 0.0 0.0 0.4 0.4 0.5 11.8

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth

N/C: Not calculabe

Chile

Indonesia' fish and seafood importing from Chile increased at a CAGR of 12.4% from 2019 to 2023. Top three products are fats and oils of fish and their fractions valued at US$14.7 million, frozen pacific salmon valued at US$9.5 million and frozen, atlantic salmon and danube salmon valued at US$2.9 million in 2023.

Indonesia imported top five fish and seafood from Chile, in US$ million
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood Total 19.5 15.1 17.3 33.4 31.1 12.4
150420 fats and oils of fish and their fractions, whether or not refined (excluding liver oils and chemically modified) 9.0 6.4 7.8 9.4 14.7 13.1
030312 frozen pacific salmon (excluding sockeye salmon "red salmon") 0.7 0.5 1.4 7.0 9.5 91.9
030313 frozen, atlantic salmon and danube salmon 3.4 2.4 2.6 9.1 2.9 −3.9
230120 flours, meals and pellets of fish or crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption 1.1 3.3 3.0 1.6 1.4 6.2
030614 frozen crab, even smoked, whether in shell or not, including crab in shell, cooked by steaming or by boiling in water 3.9 2.0 1.9 2.4 1.2 −25.5

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth

Canada's performance

In 2023, Canada became Indonesia's 10th largest supplier of fish and seafood. The total value of fish and seafood imports from Canada in 2023 was US$22.0 million, which represents a −8.4% decrease in growth rate from 2019 to 2023 compared to the US$31.3 million registered in 2019.

The Indonesia's top three fish and seafood imports from Canada were frozen crab, even smoked, (HS: 030614), which amounted to US$20.0 million and 1.9 million kilograms; frozen fillets of flat fish (HS: 030483), which amounted to US$753.8 thousands and 332.077 kilograms; and frozen shrimp and prawns, even smoked, (HS: 030617), which amounted to US$544.4 thousand and 99,218 kilograms in 2023.

Indonesia's top 5 fish and seafood imports from Canada by product, in US$ thousands, historical
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Total - fish and seafood imports 31,324.5 9,748.6 19,039.1 46,067.6 22,043.6 −8.4
030614 frozen crab, even smoked, whether in shell or not, including crab in shell 30,321.1 8,643.3 16,450.6 41,783.5 20,049.8 −9.8
030483 frozen fillets of flat fish 40.5 1,770.0 2,796.1 753.8 165.0 (2020-2023)
030617 frozen shrimp and prawns, even smoked, whether in shell or not, including shrimp and prawns in shell, cooked by steaming or by boiling in water 0.0 119.7 0.0 210.3 544.4 65.7
150420 fats and oils of fish and their fractions, whether or not refined 12.4 30.7 10.7 76.5 325.7 126.4
030612 frozen lobster even smoked, whether in shell or not, including lobster in shell, cooked by steaming or by boiling in water 0.0 1.1 0.0 0.0 108.2 361.6

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

The volume of fish and seafood imports from Canada increased by 1.3% from 2019 to 2023, from 2,283 thousands kilograms in 2019 to 2,405 thousand kilograms in 2023.

The Indonesia's top 5 fish and seafood imports from Canada by product, volume measured in kilograms, historical
HS Code Description 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Total - fish and seafood imports 2,283,344 956,179 2,133,715 3,980,014 2,405,934 1.3
030614 frozen crab, even smoked, whether in shell or not, including crab in shell 2,086,261 774,681 742,839 2,076,650 1,900,181 −2.3
030483 frozen fillets of flat fish 23,794 1,197,527 1,668,096 332,077 N/C
030617 frozen shrimp and prawns, even smoked, whether in shell or not, including shrimp and prawns in shell, cooked by steaming or by boiling in water (excluding cold-water shrimp and prawns) 14,378 16,313 99,218 N/C
030389 frozen fish,, nowhere else specified 41,084 37,770 2,671 22,922 −13.6
150420 fats and oils of fish and their fractions, whether or not refined 459 1,147 385 5,490 21,870 162.7

Source: Global Trade Tracker, 2024

*CAGR: Compound Annual Growth Rate

N/C: Not calculatable

Retail sales by category

The retail sales of fish and seafood in the Indonesia have seen a steady growth over the past few years. The retail sales of fish and seafood increased from US$13,199.6 million in 2019 to US$18,467.2 million in 2023, with a CAGR of 8.8%. The market is expected to continue its growth, with a forecasted retail sales value of US$18,653.1 million in 2024 and US$21,611.0 million in 2028, with a CAGR of 3.2% from 2023 to 2028.

The retail sales of crustaceans in the Indonesia increased from US$3,594.7 million in 2019 to US$6,784.3 million in 2023, reflecting a CAGR of 17.2%. The market is predicted to maintain its upward trajectory, with an estimated CAGR of 1.0% from 2023 to 2028. The retail sales value of crustaceans is projected to be US$6,587.2 million in 2024 and US$7,123.0 million in 2028.

Fish sales in Indonesia grew at a CAGR of 4.0% from 2019 to 2023, with retail sales climbing from US$7,359.4 million in 2019 to US$8,614.4 million in 2023. The fish market is expected to grow at a faster pace, with a projected CAGR of 4.0% from 2023 to 2028. The retail sales value of fish products is anticipated to be US$8,929.4 million in 2024 and US$10,531.0 million in 2028.

Molluscs and cephalopods in Indonesia saw retail sales surge from US$2,245.5 million in 2019 to US$3,068.5 million in 2023, reflecting a CAGR of 8.1%. The market is expected to grow from 2023 to 2028, with a projected CAGR of 5.5%. The forecasted retail sales value for molluscs and cephalopods is US$3,136.4 million in 2024 and $4,006.9 million in 2028.

Retail sales of processed seafood in Indonesia have seen growth over the past few years, with a CAGR of 9.8% between 2019 and 2023. During this time period, the total retail sales of processed seafood increased from US$294.7 million in 2019 to US$428.0 million in 2023 and the forecast indicate that the market will continue to growth from 2023 to 2028. All the three segments, shelf stable seafood, chilled processed seafood, frozen processed seafood are growing at a CAGR of 9.6%, 7.0% and 12.6% respectively from 2019 to 2023.

Retail sales of fish and seafood and processed seafood by category, in US$ millions, 2023 fixed exchange rate, historic and forecast, 2019 to 2023
Category 2019 2020 2021 2022 2023 CAGR* % 2019-2023
Fish and Seafood 13,199.6 17,224.8 14,489.3 17,711.8 18,467.2 8.8
Crustaceans 3,594.7 5,460.8 5,098.0 6,162.1 6,784.3 17.2
Fish 7,359.4 8,649.1 6,972.3 8,486.3 8,614.4 4.0
Molluscs and Cephalopods 2,245.5 3,114.9 2,419.0 3,063.4 3,068.5 8.1
Processed Seafood 294.7 312.8 344.2 375.7 428.0 9.8
Shelf Stable Seafood 268.6 284.2 312.7 340.8 387.4 9.6
Chilled Processed Seafood 4.2 4.4 4.7 5.0 5.5 7.0
Frozen Processed Seafood 21.8 24.2 26.9 30.0 35.1 12.6

Source: Euromonitor International, 2024

CAGR: Compound Annual Growth

Retail sales of fish and seafood and processed seafood by category, in US$ millions, 2023 fixed exchange rate, historic and forecast, 2024 to 2028
Category 2024 2025 2026 2027 2028 CAGR* % 2023-2028
Fish and Seafood 18,653.1 19,490.8 20,252.7 20,984.2 21,661.0 3.2
Crustaceans 6,587.2 6,751.6 6,897.2 7,035.7 7,123.0 1.0
Fish 8,929.4 9,394.0 9,801.6 10,180.0 10,531.0 4.1
Molluscs and Cephalopods 3,136.4 3,345.1 3,553.9 3,768.4 4,006.9 5.5
Processed Seafood 485.1 550.9 628.8 719.7 823.5 14.0
Shelf Stable Seafood 438.0 496.2 564.9 644.8 735.7 13.7
Chilled Processed Seafood 6.1 6.7 7.5 8.3 9.2 10.8
Frozen Processed Seafood 41.0 48.0 56.5 66.6 78.5 17.5

Source: Euromonitor International, 2024

CAGR: Compound Annual Growth

In 2023, the value of retail sales of processed meat, seafood and alternatives to meat in Indonesia amounted to US$2.19 billion, with a growth rate of 9.9% from 2019 to 2023 compared with the value of US$1.5 billion in 2019. The primary distribution channel for these products was offline retail, specifically grocery retailers, which had a market value of US$2.18 billion in 2023, showing an increase in growth rate of 9.8% from 2019 to 2023. This channel accounted to 99.4% of the market share, with convenience retail as the largest channel, accumulating a market share representation of 43.0% in 2023.

In contrast, E-Commerce represented a smaller share of the market, accounting for only 0.6% in 2023. However, this channel showed a higher growth rate at the CAGR 91.9% from 2019 to 2023.

Distribution channels of processed meat, seafood and alternatives to meat[1] by outlet type, in US$ millions, 2022 fixed exchange rate, historical
Outlet Type 2019 2020 2021 2022 2023 Share from total % 2023 CAGR* % 2019-2023
Retail Channels 1,502.2 1,492.1 1,678.7 1,908.6 2,191.5 100 9.9
Retail Offline 1,501.3 1,489.3 1,673.9 1,899.6 2,179.3 99.4 9.8
Grocery Retailers 1,501.3 1,489.3 1,673.9 1,899.6 2,179.3 99.4 9.8
Convenience Retail 499.8 546.2 643.2 792.0 942.4 43.0 17.2
Convenience Stores 499.8 546.2 643.2 792.0 942.4 43.0 17.2
Supermarkets 529.4 474.5 520.2 548.3 610.3 27.8 3.6
Hypermarkets 138.4 106.6 102.3 102.3 102.8 4.7 −7.2
Small Local Grocers 333.7 362.0 408.2 457.1 523.7 23.9 11.9
Retail E-Commerce 0.9 2.8 4.8 9.0 12.2 0.6 91.9

Source: Euromonitor International, 2024

1: Processed meat and seafood (as defined by Euromonitor International) - processed meat, processed seafood and meat substitutes (includes all types of chilled, frozen and shelf stable meat and fish substitutes such as vegetarian sausages, vegetarian burgers, bean burgers, vegetarian fish filets etc. typically made of quorn mycoprotein, tofu, soy or texturized vegetable protein).

*CAGR: Compound Annual Growth Rate

Competitive landscape

Kraft Heinz Co and Mitsui & Co Ltd were the two largest processed seafood companies with retail sales of US$119.8 million and US$49.7 million respectively, representing a 28.0% and 11.6% market share respectively in 2023.

Kraft Heinz Co and Mitsui & Co Ltd were the two largest Shelf Stable Seafood companies with retail sales valued at US$119.8 million and US$49.7 million respectively with a combined 53.7% market share in 2023.

Presto Marina PT was the largest chilled processed food company with retail sales valued at US$1.1 million and 20% market share in 2023.

Charoen Pokphand Group and Sekar Group are the two largest frozen processed seafood companies with retail sales valued at US$15.7 million and US$3.9 million with a combined 55.8% market share in 2023.

Top five processed seafood companies, historic retail sales, in US$ millions, 2023 fixed exchange rate
Category Company 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
Processed Seafood Kraft Heinz Co 82.2 84.5 95.6 101.4 119.8 9.9 28.0
Mitsui & Co Ltd 37.0 38.1 43.1 49.5 49.7 7.7 11.6
Maya Muncar PT 40.8 41.8 47.0 45.6 49.2 4.8 11.5
Denis Frères SA 33.8 34.7 39.2 41.4 48.1 9.2 11.2
Jakarana Tama PT 33.5 34.5 38.8 41.0 47.6 9.2 11.1
Others 51.0 52.4 56.6 57.2 62.7 5.3 14.6
Total 316.2 325.7 365.3 384.2 428.0 7.9 100.0
Shelf Stable Seafood Kraft Heinz Co 82.2 84.5 95.6 101.4 119.8 9.9 30.9
Mitsui & Co Ltd 37.0 38.1 43.1 49.5 49.7 7.7 12.8
Maya Muncar PT 40.8 41.8 47.0 45.6 49.2 4.8 12.7
Denis Frères SA 33.8 34.7 39.2 41.4 48.1 9.2 12.4
Jakarana Tama PT 33.5 34.5 38.8 41.0 47.6 9.2 12.3
Others 36.3 37.0 39.6 39.3 42.7 4.1 11.0
Total 288.3 296.0 331.8 348.5 387.4 7.7 100.0
Chilled processed seafood Presto Marina PT 0.9 0.9 1.0 1.0 1.1 5.1 20.0
Others 3.7 3.7 4.0 4.1 4.4 4.4 80.0
Total 4.5 4.6 4.9 5.1 5.5 5.1 100.0
Frozen Processed Seafood Charoen Pokphand Group 9.9 10.8 12.4 13.5 15.7 12.2 44.7
Sekar Group 2.5 2.7 3.1 3.3 3.9 11.8 11.1
Others 11.1 11.7 13.1 13.8 15.5 8.7 44.2
Total 23.4 25.2 28.5 30.6 35.1 10.7 100.0

Source: Euromonitor International, 2024

*CAGR: Compound Annual Growth Rate

ABC (Kraft Heinz Co) and Botan (Mitsui & Co Ltd) were the two largest brands in processed seafood with a 9.9% and 7.7% growth rate respectively from 2019 to 2023, representing a 28.0% and 11.6% market share in 2023.

Marina (Presto Marina PT) was the largest brand in chilled processed food with a 5.1% growth rate from 2019 to 2023, representing a 20% market share in 2023.

Fiesta (Charoen Pokphand Group) was the largest brand in frozen processed food with a 12.2% growth rate from 2019 to 2023, representing a 44.7% market share in 2023.

Top processed seafood brands, historic retail sales, in US$ millions,2023 fixed exchange rate
Category Brand 2019 2020 2021 2022 2023 CAGR* % 2019-2023 Market share % 2023
Processed Seafood ABC (Kraft Heinz Co) 82.2 84.5 95.6 101.4 119.8 9.9 28.0
Botan (Mitsui & Co Ltd) 37.0 38.1 43.1 49.5 49.7 7.7 11.6
Maya (Maya Muncar PT) 40.8 41.8 47.0 45.6 49.2 4.8 11.5
Ayam (Denis Frères SA) 33.8 34.7 39.2 41.4 48.1 9.2 11.2
Gaga (Jakarana Tama PT) 33.5 34.5 38.8 41.0 47.6 9.2 11.1
Others 51.0 52.4 56.6 57.2 62.7 5.3 14.6
Total 316.2 325.7 365.3 384.2 428.0 7.9 100.0
Shelf Stable Seafood ABC (Kraft Heinz Co) 82.2 84.5 95.6 101.4 119.8 9.9 30.9
Botan (Mitsui & Co Ltd) 37.0 38.1 43.1 49.5 49.7 7.7 12.8
Maya (Maya Muncar PT) 40.8 41.8 47.0 45.6 49.2 4.8 12.7
Ayam (Denis Frères SA) 33.8 34.7 39.2 41.4 48.1 9.2 12.4
Gaga (Jakarana Tama PT) 33.5 34.5 38.8 41.0 47.6 9.2 12.3
Others 36.3 37.0 39.6 39.3 42.7 4.1 11.0
Total 288.3 296.0 331.8 348.5 387.4 7.7 100.0
Chilled processed seafood Marina (Presto Marina PT) 0.9 0.9 1.0 1.0 1.1 5.1 20.0
Others 3.7 3.7 4.0 4.1 4.4 4.4 80.0
Total 4.5 4.6 4.9 5.1 5.5 5.1 100.0
Frozen Processed Seafood Fiesta (Charoen Pokphand Group) 9.9 10.8 12.4 13.5 15.7 12.2 44.7
Bumifood (Sekar Group) 2.5 2.7 3.1 3.3 3.9 11.8 11.1
Others 11.1 11.7 13.1 13.8 15.5 8.7 44.2
Total 23.4 25.2 28.5 30.6 35.1 10.7 100.0

Source: Euromonitor International, 2024

*CAGR: Compound Annual Growth Rate

New product launch analysis

According to Mintel's Global New Products Database (GNPD), there were 3,343 fish and seafood products as an ingredient launched in between January 2019 and December 2023. Of those fish products released, 3,081 were food products, 280 were pet products, 61 were health and 21 were drink.

The top sub-categories of products offered were fish products, meat products and poultry products from January 2019 to December 2023. Top claims were halal, social media and ease of use. Top package types were flexible, skinpack and flexible stand-up pouch. Top flavours (including blends) identified were unflavoured/plain, smoke and spice/spicy, while top ingredients identified were salt, white sugar and flavour enhancers.

New product launches of fish and seafood products (as an ingredient), 2019 to 2023
Product attributes Yearly launch counts Total
2019 2020 2021 2022 2023
Yearly product launches 584 701 659 764 735 3,343
Top five sub-categories
Fish Products 129 146 92 165 142 674
Meat Products 83 176 165 152 97 673
Poultry Products 50 94 125 114 113 496
Eggs and Egg Products 44 27 22 26 28 147
Cat Food Wet 37 16 27 26 34 140
Top five claims
Halal 343 397 420 536 513 2,209
Social Media 94 188 209 269 274 1,034
Ease of Use 93 132 174 186 223 808
No Additives / Preservatives 71 123 129 161 165 649
Free from Added / Artificial Preservatives 56 101 116 133 139 545
Imported status
Not imported 62 75 100 103 129 469
Imported 83 72 61 80 90 386
Top packaged types
Flexible 190 201 218 255 233 1,097
Skinpack 79 179 178 158 122 716
Flexible stand-up pouch 99 107 92 104 124 526
Can 39 40 28 102 72 281
Flexible sachet 59 38 28 31 64 220
Top launch types
New Product 229 336 248 257 243 1,313
New Variety/Range Extension 177 217 220 193 224 1,031
New Packaging 124 113 131 253 197 818
Relaunch 49 31 56 58 63 257
New Formulation 5 4 4 3 8 24
Top five flavours (including blend)
Unflavoured/Plain 222 280 257 271 215 1,245
Smoke 11 26 22 28 24 111
Spice/Spicy 10 28 20 26 23 107
Fish 25 22 10 11 23 91
Cheese 9 13 10 11 14 57
Top five ingredients
Salt (Food) 337 391 357 469 433 1,987
White Sugar (Food) 247 257 240 352 321 1,417
Flavour Enhancers 165 198 193 287 293 1,136
Monosodium Glutamate (Food) 152 175 185 268 277 1,057
Waters (Food) 149 177 194 277 251 1,048
Source: Mintel, 2024

Does Indonesia have a trade agreement with Canada?

Canadian merchandise exports to Indonesia were valued at $2.3 billion, making it Canada's largest export market in ASEAN. Canada and Indonesia are currently negotiating a Comprehensive Economic Partnership Agreement (CEPA) to further expand trade relations.

Examples of new product launches

Fish Cake
Company Insan Citraprima Sejahtera
Manufacturer Insan Citraprima Sejahtera
Brand Ahaa!
Category Processed fish, meat and egg products
Sub-category Fish products
Market Indonesia
Date published December 2023
Launch type New variety / range extension
Price in local currency IDR23,400.00
Price in US dollars 1.51
Price in Euros 1.39
 

Ahaa! Otak-Otak Ikan (Fish Cake) is now available, and retails in a 200 gram pack. - Favourite seafood - Cooking instructions - Logos and certifications: HACCP, Halal

Salty Cheese Fish Fries
Company Van Landa
Manufacturer Van Landa
Brand Van Landa
Category Snacks
Sub-category Cassava and other root-based snacks
Market Indonesia
Date published December 2023
Launch type New variety / range extension
Price in local currency IDR42,000.00
Price in US dollars 2.71
Price in Euros 2.48
 

Van Landa Stik Basreng Keju Asin (Salty Cheese Fish Fries) are now available, and retail in a 120 gram pack, which includes 20 grams (20%) extra. - Kettle cooked - Made using only the finest ingredients - Hand cooked in small batches - Logos and certifications: Halal.

Roa Fish Fried Rice Seasoning
Company Tudung Putra Putri Jaya
Manufacturer Tudung Putra Putri Jaya
Brand Tudung
Category Sauces and seasonings
Sub-category Seasonings
Market Indonesia
Store type Supermarket
Date published October 2023
Launch type New variety / range extension
Price in local currency IDR7,400.00
Price in US dollars 0.47
Price in Euros 0.45
 

Tudung Bumbu Nasi Goreng Roa (Roa Fish Fried Rice Seasoning) is now available, and retails in a 28 gram pack. - Indonesian style recipe with savoury roa fish and smoky spicy flavour - One complete packet with seasoning powder and seasoning oil - Does not need frying - For two to three servings - Preparation instructions - Practical; just needs mixing with warm rice - Logos and certifications: Halal, QR code, Instagram information, WhatsApp information

For more information

The Canadian Trade Commissioner Service:

International Trade Commissioners can provide Canadian industry with on-the-ground expertise regarding market potential, current conditions and local business contacts, and are an excellent point of contact for export advice.

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More on Canada's agriculture and agri-food sectors:

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For more information on Food and Hotel Indonesia, please contact:

Trade Commissioner Services of Indonesia
jkrtatd@international.gc.ca

Resources

  • Euromonitor International, 2024
  • Global Trade Tracker, 2024
  • Mintel Global New Products Database, 2024

Sector Trend Analysis – Fish and seafood trends in Indonesia
Global Analysis Report

Prepared by: Hongli Wang, Senior Market Analyst

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