Canada: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Canada

In 2021, the Canadian seafood meals and pellets market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a mild decline. Seafood meals and pellets consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Canada

In value terms, seafood meals and pellets production totaled $X in 2021 estimated in export price. In general, production recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 309% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Canada

In 2021, exports of flours, meals and pellets of fish or of crustaceans and molluscs from Canada reduced to X tons, waning by -10% against the previous year's figure. In general, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, seafood meals and pellets exports reduced markedly to $X in 2021. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 26% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for seafood meals and pellets exports from Canada, with a 68% share of total exports. Moreover, seafood meals and pellets exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled -7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-22.0% per year) and Cyprus (+1.3% per year).

In value terms, the largest markets for seafood meals and pellets exported from Canada were the United States ($X), Japan ($X) and Cyprus ($X), with a combined 95% share of total exports.

In terms of the main countries of destination, Cyprus, with a CAGR of +0.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, shrinking by -30.1% against the previous year. Over the period under review, the export price recorded a mild shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Japan ($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 Japan (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Canada

Seafood meals and pellets imports into Canada expanded to X tons in 2021, increasing by 4% compared with 2020 figures. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 35%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, seafood meals and pellets imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 35%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Mexico (X tons) and Denmark (X tons) were the main suppliers of seafood meals and pellets imports to Canada, with a combined 67% share of total imports. These countries were followed by Chile, Norway, Peru and India, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +23.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Canada were the United States ($X), Mexico ($X) and Denmark ($X), with a combined 66% share of total imports. Chile, Norway, Peru and India lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, Norway, with a CAGR of +22.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, growing by 2.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2017 an increase of 10%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Denmark ($X per ton) and Norway ($X per ton), while the price for the United States ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :