Guatemala: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Guatemala

In 2022, the Guatemalan frozen crustaceans market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, the total consumption indicated a resilient expansion 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 2020 indices. Frozen crustaceans consumption peaked in 2022 and is expected to retain growth in years to come.

Frozen Crustaceans Production in Guatemala

In value terms, frozen crustaceans production fell slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Frozen Crustaceans Exports

Exports from Guatemala

After three years of growth, overseas shipments of frozen crustaceans decreased by X% to X tons in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, frozen crustaceans exports amounted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for frozen crustaceans exports from Guatemala, with a X% share of total exports. Moreover, frozen crustaceans exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for frozen crustaceans exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by Mexico, with a 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: Spain (X% per year) and Mexico (X% per year).

Export Prices by Country

The average frozen crustaceans export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

Frozen Crustaceans Imports

Imports into Guatemala

In 2022, approx. X tons of frozen crustaceans were imported into Guatemala; picking up by X% against the previous year's figure. In general, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, frozen crustaceans imports skyrocketed to $X in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Ecuador (X tons), Honduras (X tons) and Nicaragua (X tons) were the main suppliers of frozen crustaceans imports to Guatemala, with a combined X% share of total imports. Argentina and Peru lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X) constituted the largest supplier of frozen crustaceans to Guatemala, comprising X% of total imports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ecuador totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Nicaragua (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the average frozen crustaceans import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, showed a slight descent. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform