Canada: Frozen Fish Market 2024

Frozen Fish Market Size in Canada

The Canadian frozen fish market skyrocketed to $X in 2022, increasing by X% against the previous year. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Fish Production in Canada

In value terms, frozen fish production fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Frozen fish production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports from Canada

In 2022, exports of frozen fish from Canada fell significantly to X tons, which is down by X% on the year before. Over the period under review, exports saw a pronounced descent. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen fish exports contracted to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main destinations of frozen fish exports from Canada, together comprising X% of total exports. Lithuania, Ukraine, South Africa, the Netherlands, France, Belarus, Romania, the UK and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for frozen fish exports from Canada, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

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

Export Prices by Country

In 2022, the average frozen fish export price amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached 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 ($X per ton), while the average price for exports to Lithuania ($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 Belarus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Canada

In 2022, approx. X tons of frozen fish were imported into Canada; rising by X% compared with 2021. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, frozen fish imports surged to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and Vietnam (X tons) were the main suppliers of frozen fish imports to Canada, together accounting for X% of total imports. Norway, Chile, Iceland, Faroe Islands, Indonesia, Taiwan (Chinese), Portugal and Russia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Faroe Islands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Vietnam ($X) were the largest frozen fish suppliers to Canada, together accounting for X% of total imports. Chile, Norway, Indonesia, Iceland, Taiwan (Chinese), Russia, Faroe Islands and Portugal lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Faroe Islands, with a CAGR of X%, recorded 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

In 2022, the average frozen fish import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 ($X per ton), while the price for Faroe Islands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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