Colombia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Colombia

The Colombian frozen fish and seafood market expanded slightly to $X in 2022, increasing by X% against the previous year. In general, the total consumption indicated a buoyant increase 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 2017 indices. Frozen fish and seafood consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Frozen Fish And Seafood in Colombia

In value terms, frozen fish and seafood production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from Colombia

In 2022, approx. X tons of frozen fish and seafood were exported from Colombia; which is down by X% against 2021. In general, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports dropped to $X in 2022. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for frozen fish and seafood exports from Colombia, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Ecuador exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and the United States (X% per year).

In value terms, the United States ($X), France ($X) and Spain ($X) were the largest markets for frozen fish and seafood exported from Colombia worldwide, with a combined X% share of total exports. Ecuador, Guatemala and Japan lagged somewhat behind, together comprising a further X%.

Guatemala, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2022, the average frozen fish and seafood export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Frozen Fish And Seafood

Imports into Colombia

In 2022, approx. X tons of frozen fish and seafood were imported into Colombia; reducing by X% against the year before. Overall, total imports indicated a noticeable 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 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then declined notably in the following year.

In value terms, frozen fish and seafood imports amounted to $X in 2022. Over the period under review, total imports indicated a strong increase 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Vietnam (X tons), Ecuador (X tons) and Chile (X tons) were the main suppliers of frozen fish and seafood imports to Colombia, together comprising X% of total imports. China, Uruguay, Argentina, Seychelles and Peru lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest frozen fish and seafood suppliers to Colombia were Chile ($X), Ecuador ($X) and Vietnam ($X), with a combined X% share of total imports. China, Uruguay, Seychelles, Argentina and Peru lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Seychelles, with a CAGR of X%, saw 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

The average frozen fish and seafood import price stood at $X per ton in 2022, growing 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, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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