Chile: Smoked Salmon Market 2024

Smoked Salmon Market Size in Chile

The Chilean smoked salmon market fell modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Smoked Salmon Production in Chile

In value terms, smoked salmon production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Smoked Salmon Exports

Exports from Chile

For the third consecutive year, Chile recorded growth in shipments abroad of smoked pacific, atlantic and danube salmon, which increased by 9.5% to X tons in 2022. Overall, exports, however, saw a slight decrease. The growth pace was the most rapid in 2018 when exports increased by 30% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, smoked salmon exports surged to $X in 2022. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +18.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 42%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for smoked salmon exports from Chile, with a 79% share of total exports. Moreover, smoked salmon exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.5% per year) and Japan (-3.8% per year).

In value terms, the United States ($X) remains the key foreign market for smoked pacific, atlantic and danube salmon exports from Chile, comprising 81% of total exports. The second position in the ranking was held by Mexico ($X), with a 5.5% share of total exports. It was followed by Japan, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.4% per year) and Japan (-1.9% per year).

Export Prices by Country

The average smoked salmon export price stood at $X per ton in 2022, with an increase of 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The pace of growth was the most pronounced in 2017 an increase of 18% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Japan ($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 Mexico (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into Chile

In 2022, overseas purchases of smoked pacific, atlantic and danube salmon increased by 712% to X tons, rising for the fifth consecutive year after two years of decline. In general, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, smoked salmon imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X tons) was the main smoked salmon supplier to Chile, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from France was relatively modest.

In value terms, France ($X) constituted the largest supplier of smoked pacific, atlantic and danube salmon to Chile.

From 2012 to 2022, the average annual rate of growth in terms of value from France was relatively modest.

Import Prices by Country

The average smoked salmon import price stood at $X per ton in 2022, increasing by 17% against the previous year. In general, the import price saw strong growth. The pace of growth appeared the most rapid in 2020 an increase of 34%. The import price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for France.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +8.9% per year.

Source: IndexBox Platform

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