Canada: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in Canada

In 2021, the Canadian preserved mackerel market increased by 19% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, saw a mild curtailment. Preserved mackerel consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Preserved Mackerel Production in Canada

In value terms, preserved mackerel production soared to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2015 with an increase of 28% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Preserved Mackerel Exports

Exports from Canada

In 2021, exports of mackerel (prepared or preserved) from Canada soared to X tons, picking up by 19% against 2020 figures. Over the period under review, exports, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 202%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved mackerel exports surged to $X in 2021. Overall, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2018 with an increase of 165% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Antigua and Barbuda (X tons), the United States (X tons) and Saint Vincent and the Grenadines (X tons) were the main destinations of preserved mackerel exports from Canada, together accounting for 59% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +53.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Antigua and Barbuda ($X), the United States ($X) and Trinidad and Tobago ($X) constituted the largest markets for preserved mackerel exported from Canada worldwide, together accounting for 61% of total exports. Saint Vincent and the Grenadines, Saint Lucia, Hong Kong SAR and Grenada lagged somewhat behind, together comprising a further 34%.

Saint Lucia, with a CAGR of +41.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved mackerel export price stood at $X per ton in 2021, rising by 9.6% against the previous year. Overall, the export price, however, continues to indicate a mild downturn. The pace of growth was the most pronounced in 2015 an increase of 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Antigua and Barbuda ($X per ton), while the average price for exports to Saint Vincent and the Grenadines ($X per ton) and Saint Lucia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Grenada (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Mackerel Imports

Imports into Canada

In 2021, the amount of mackerel (prepared or preserved) imported into Canada fell significantly to X tons, reducing by -23.4% compared with the previous year's figure. Overall, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 74% against the previous year. Imports peaked at X tons in 2020, and then dropped dramatically in the following year.

In value terms, preserved mackerel imports shrank to $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.7% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 32%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Chile (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of preserved mackerel imports to Canada, together comprising 64% of total imports. Poland, Japan, Portugal, Thailand, Taiwan (Chinese), the UK and the Philippines lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +110.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved mackerel suppliers to Canada were Poland ($X), Chile ($X) and Japan ($X), together accounting for 58% of total imports.

Poland, with a CAGR of +122.9%, recorded the highest rates of growth with regard to 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 2021, the average preserved mackerel import price amounted to $X per ton, surging by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 27%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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