Brazil: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Brazil

In 2022, the Brazilian market for fish fillets and other fish meat increased by 13% to $X, rising for the second year in a row after three years of decline. Overall, consumption showed a deep downturn. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Fish Fillets and Other Fish Meat

Exports from Brazil

In 2022, the amount of fish fillets and other fish meat exported from Brazil surged to X tons, increasing by 26% against the previous year's figure. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 101%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of fish fillets and other fish meat soared to $X in 2022. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 87%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for exports of fish fillets and other fish meat from Brazil, with a 82% share of total exports. Moreover, exports of fish fillets and other fish meat to the United States exceeded the volume sent to the second major destination, Libya (X tons), more than tenfold. The third position in this ranking was taken by Canada (X tons), with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (+4,832.5% per year) and Canada (+60.9% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Brazil, comprising 87% of total exports. The second position in the ranking was held by Canada ($X), with a 1.9% share of total exports. It was followed by Libya, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +33.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+47.5% per year) and Libya (+3,278.9% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, falling by -5% against the previous year. In general, the export price saw a pronounced downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Guyana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Brazil

In 2022, imports of fish fillets and other fish meat into Brazil contracted to X tons, with a decrease of -8.1% compared with the previous year. Over the period under review, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 27% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of fish fillets and other fish meat surged to $X in 2022. In general, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2017 with an increase of 26%. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X tons), Argentina (X tons) and China (X tons) were the main suppliers of imports of fish fillets and other fish meat to Brazil, together comprising 85% of total imports. Chile, Iceland, Portugal and Peru lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +47.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest fish fillets and other fish meat suppliers to Brazil were Vietnam ($X), Argentina ($X) and Chile ($X), together accounting for 83% of total imports. China, Portugal, Iceland and Peru lagged somewhat behind, together comprising a further 13%.

Peru, with a CAGR of +33.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, rising by 30% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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