Latin America and the Caribbean: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2025

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Latin America and the Caribbean

The Latin American meat and fish extracts market was finally on the rise to reach $X in 2021, after seven years of decline. Overall, consumption, however, showed a perceptible slump. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Latin America and the Caribbean

In value terms, meat and fish extracts production rose significantly to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced reduction. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports in Latin America and the Caribbean

Meat and fish extracts exports fell remarkably to X tons in 2021, declining by -38.4% against the previous year. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, meat and fish extracts exports shrank significantly to $X in 2021. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by 19%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil dominates exports structure, reaching X tons, which was approx. 88% of total exports in 2021. The following exporters - Chile (X tons), Mexico (X tons) and Uruguay (X tons) - together made up 10% of total exports.

From 2012 to 2021, average annual rates of growth with regard to meat and fish extracts exports from Brazil stood at -6.6%. At the same time, Chile (+65.9%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +65.9% from 2012-2021. By contrast, Uruguay (-1.3%) and Mexico (-16.1%) illustrated a downward trend over the same period. While the share of Brazil (+5.5 p.p.) and Chile (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest meat and fish extracts supplier in Latin America and the Caribbean, comprising 92% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 3.9% share of total exports. It was followed by Mexico, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled -5.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Uruguay (+3.8% per year) and Mexico (-14.8% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, which is down by -6.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 6.7%. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+19.7%), while the other leaders experienced more modest paces of growth.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports in Latin America and the Caribbean

In 2021, the amount of extracts and juices of meat, fish, crustaceans and molluscs imported in Latin America and the Caribbean expanded significantly to X tons, increasing by 9.1% against the previous year's figure. Over the period under review, imports posted a pronounced increase. The growth pace was the most rapid in 2013 when imports increased by 39% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, meat and fish extracts imports skyrocketed to $X in 2021. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 52% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

Mexico represented the main importing country with an import of about X tons, which finished at 51% of total imports. Argentina (X tons) ranks second in terms of the total imports with a 15% share, followed by Brazil (10%). Anguilla (X tons), Ecuador (X tons), Guatemala (X tons), the Dominican Republic (X tons), Cuba (X tons) and Chile (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to meat and fish extracts imports into Mexico stood at +3.0%. At the same time, Brazil (+107.9%), Argentina (+58.3%), Cuba (+29.5%), the Dominican Republic (+24.1%), Anguilla (+20.5%), Guatemala (+20.3%) and Ecuador (+15.2%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +107.9% from 2012-2021. By contrast, Chile (-2.1%) illustrated a downward trend over the same period. While the share of Argentina (+15 p.p.), Brazil (+10 p.p.), Anguilla (+3.1 p.p.), Ecuador (+1.9 p.p.), Guatemala (+1.8 p.p.) and Cuba (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported extracts and juices of meat, fish, crustaceans and molluscs in Latin America and the Caribbean, comprising 45% of total imports. The second position in the ranking was held by Brazil ($X), with an 18% share of total imports. It was followed by Argentina, with a 12% share.

In Mexico, meat and fish extracts imports expanded at an average annual rate of +5.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+87.1% per year) and Argentina (+34.1% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 21% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2014 when the import price increased by 24% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Chile ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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