Canada: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Canada

The Canadian market for fish fillets and other fish meat soared to $X in 2022, surging by 22% against the previous year. Overall, consumption enjoyed resilient growth. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Fish Fillets and Other Fish Meat in Canada

In value terms, production of fish fillets and other fish meat amounted to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports from Canada

In 2022, after two years of growth, there was significant decline in overseas shipments of fish fillets and other fish meat, when their volume decreased by -23.1% to X tons. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 8.2%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of fish fillets and other fish meat declined to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of fish fillets and other fish meat from Canada, with a 79% 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, France (X tons), more than tenfold. China (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+10.6% per year) and China (-3.6% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Canada, comprising 93% of total exports. The second position in the ranking was held by France ($X), with a 2.1% share of total exports. It was followed by China, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.1% per year) and China (-2.5% per year).

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, growing by 25% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Indonesia ($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 the United States (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Canada

In 2022, purchases abroad of fish fillets and other fish meat increased by 3% to X tons, rising for the second year in a row after two years of decline. In general, imports enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 352%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of fish fillets and other fish meat soared to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.5% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of fish fillets and other fish meat to Canada, with a 32% share of total imports. Moreover, imports of fish fillets and other fish meat from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Chile (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+2.5% per year) and Chile (+2.7% per year).

In value terms, the largest fish fillets and other fish meat suppliers to Canada were China ($X), Chile ($X) and the United States ($X), together accounting for 60% of total imports. Norway, Vietnam, Indonesia and Iceland lagged somewhat behind, together accounting for a further 28%.

Indonesia, with a CAGR of +21.9%, recorded the highest growth rate of the value of imports, in terms of 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, jumping by 18% against the previous year. In general, the import price showed temperate growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 308%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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