Canada: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Canada

The Canadian preserved fish fillet market contracted remarkably to $X in 2021, with a decrease of -18.7% against the previous year. In general, consumption, however, continues to indicate a remarkable increase. Preserved fish fillet consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Preserved Fish Fillet Production in Canada

In value terms, preserved fish fillet production rose markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 162%. Preserved fish fillet production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Preserved Fish Fillet Exports

Exports from Canada

In 2021, after three years of decline, there was significant growth in shipments abroad of fish fillets (dried, salted or in brine, but not smoked), when their volume increased by 8.9% to X tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 56%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved fish fillet exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 29% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for preserved fish fillet exports from Canada, with a 67% share of total exports. Moreover, preserved fish fillet exports to the United States exceeded the volume sent to the second major destination, Spain (X tons), threefold. Antigua and Barbuda (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.4% per year) and Antigua and Barbuda (+2.5% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Canada, comprising 83% of total exports. The second position in the ranking was held by Spain ($X), with a 9.8% share of total exports. It was followed by Antigua and Barbuda, with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-6.4% per year) and Antigua and Barbuda (+2.6% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, which is down by -2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 an increase of 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2021, 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.

Preserved Fish Fillet Imports

Imports into Canada

In 2021, supplies from abroad of fish fillets (dried, salted or in brine, but not smoked) decreased by -31.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 40% against the previous year. As a result, imports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, preserved fish fillet imports declined rapidly to $X in 2021. Over the period under review, imports, however, saw moderate growth. The pace of growth appeared the most rapid in 2019 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of preserved fish fillet to Canada, accounting for a 77% share of total imports. Moreover, preserved fish fillet imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was taken by Norway (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+198.0% per year) and Norway (+66.9% per year).

In value terms, China ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Canada, comprising 80% of total imports. The second position in the ranking was held by Norway ($X), with a 7.1% share of total imports. It was followed by the United States, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+78.9% per year) and the United States (+149.6% per year).

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, dropping by -4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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