Canada: Frozen Atlantic Halibut Market 2022

Frozen Atlantic Halibut Market Size in Canada

In 2020, after two years of decline, there was significant growth in the Canadian frozen atlantic halibut market, when its value increased by X% to $X. In general, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the market value increased by X% year-to-year. Frozen atlantic halibut consumption peaked at $X in 2014; however, from 2015 to 2020, consumption failed to regain the momentum.

Frozen Atlantic Halibut Production in Canada

In value terms, frozen atlantic halibut production stood at $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% y-o-y. Frozen atlantic halibut production peaked at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

Frozen Atlantic Halibut Exports

Exports from Canada

In 2020, shipments abroad of frozen atlantic halibut decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2009 when exports increased by X% y-o-y. As a result, exports reached the peak of X tons. from 2010 to 2020, the growth exports remained at a lower figure.

In value terms, frozen atlantic halibut exports fell rapidly to $X in 2020. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main destinations of frozen atlantic halibut exports from Canada, together accounting for X% of total exports. The U.S., Hong Kong SAR and Denmark lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Denmark, while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the U.S. ($X) appeared to be the largest markets for frozen atlantic halibut exported from Canada worldwide, together comprising X% of total exports. These countries were followed by Taiwan (Chinese), Hong Kong SAR and Denmark, which together accounted for a further X the main countries of destination, Taiwan (Chinese) saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average frozen atlantic halibut export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR, while the prices for the other major destinations experienced more modest paces of growth.

Frozen Atlantic Halibut Imports

Imports into Canada

In 2020, purchases abroad of frozen atlantic halibut decreased by -X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a drastic downturn. The growth pace was the most rapid in 2011 when imports increased by X% y-o-y. As a result, imports reached the peak of X tons. from 2012 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, frozen atlantic halibut imports declined notably to $X in 2020. Overall, imports recorded a drastic downturn. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Imports peaked at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, the U.S. (X tons) constituted the largest frozen atlantic halibut supplier to Canada, with a X% share of total imports. Moreover, frozen atlantic halibut imports from the U.S. exceeded the figures recorded by the second-largest supplier, Greenland (X tons), fivefold. The third position in this ranking was occupied by Norway (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from the U.S. totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greenland (X% per year) and Norway (+X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of frozen atlantic halibut to Canada, comprising X% of total imports. The second position in the ranking was occupied by Greenland ($X), with a X% share of total imports. It was followed by Norway, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the U.S. amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greenland (X% per year) and Norway (+X% per year).

Import Prices by Country

In 2020, the average frozen atlantic halibut import price amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated a notable expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, frozen atlantic halibut import price increased by +X% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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