Chile: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Chile

The Chilean market for fish fillets and other fish meat contracted notably to $X in 2022, reducing by -56.7% against the previous year. In general, consumption continues to indicate a abrupt slump. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fillets and Other Fish Meat in Chile

In value terms, production of fish fillets and other fish meat reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 18% against the previous year. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports from Chile

In 2022, the amount of fish fillets and other fish meat exported from Chile rose sharply to X tons, growing by 5.7% on 2021. The total export volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 13%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of fish fillets and other fish meat surged to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 29% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for exports of fish fillets and other fish meat from Chile, accounting for a 66% share of total exports. Moreover, exports of fish fillets and other fish meat to the United States exceeded the volume sent to the second major destination, Japan (X tons), fivefold. The third position in this ranking was taken by Mexico (X tons), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.1% per year) and Mexico (+8.2% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Chile, comprising 68% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports. It was followed by Mexico, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.4% per year) and Mexico (+14.2% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, rising by 20% against the previous year. Over the last decade, it increased at an average annual rate of +5.3%. The pace of growth was the most pronounced in 2016 an increase of 21%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Poland ($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 Israel (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Chile

In 2022, supplies from abroad of fish fillets and other fish meat increased by 22% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 47%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of fish fillets and other fish meat soared to $X in 2022. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 57%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Vietnam (X tons), China (X tons) and Peru (X tons) were the main suppliers of imports of fish fillets and other fish meat to Chile, with a combined 98% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +13.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest fish fillets and other fish meat suppliers to Chile were Vietnam ($X), China ($X) and Peru ($X), with a combined 97% share of total imports.

Among the main suppliers, China, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, surging by 7.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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