Latin America and the Caribbean: Market for Fresh Or Chilled Salmonoids Fillets 2025

Market Size for Fresh Or Chilled Salmonoids Fillets in Latin America and the Caribbean

The Latin American market for fresh or chilled salmonoids fillets rose modestly to $X in 2022, increasing by 2.1% against the previous year. In general, consumption continues to indicate a measured expansion. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Fresh Or Chilled Salmonoids Fillets in Latin America and the Caribbean

In value terms, fresh or chilled salmonoids fillets production fell modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate pronounced growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 208%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports in Latin America and the Caribbean

In 2022, fresh or chilled salmonoids fillets exports in Latin America and the Caribbean shrank notably to X tons, dropping by -74.9% on the previous year. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 2,481%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, fresh or chilled salmonoids fillets exports contracted dramatically to $X in 2022. In general, exports, however, recorded slight growth. The pace of growth was the most pronounced in 2016 when exports increased by 1,238%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Panama (X tons) represented roughly 97% of total exports in 2022.

Panama was also the fastest-growing in terms of the fresh or chilled salmonoids fillets exports, with a CAGR of -26.0% from 2012 to 2022. While the share of Panama (+96 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Panama ($X) also remains the largest fresh or chilled salmonoids fillets supplier in Latin America and the Caribbean.

From 2012 to 2022, the average annual rate of growth in terms of value in Panama amounted to -27.9%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 4.3% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2015 when the export price increased by 51%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Panama.

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to -2.6% per year.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports in Latin America and the Caribbean

Fresh or chilled salmonoids fillets imports surged to X tons in 2022, with an increase of 28% on 2021. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, fresh or chilled salmonoids fillets imports surged to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.0% 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 +105.9% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 107% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

The Dominican Republic was the major importing country with an import of about X tons, which finished at 43% of total imports. It was distantly followed by Bahamas (X tons), Haiti (X tons), Peru (X tons) and Colombia (X tons), together comprising a 40% share of total imports. Guatemala (X tons) and Curacao (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fresh or chilled salmonoids fillets imports into the Dominican Republic stood at +14.9%. At the same time, Guatemala (+50.6%), Haiti (+30.6%), Bahamas (+27.6%) and Peru (+22.6%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +50.6% from 2012-2022. By contrast, Curacao (-1.9%) and Colombia (-18.4%) illustrated a downward trend over the same period. The Dominican Republic (+27 p.p.), Bahamas (+18 p.p.), Haiti (+8.4 p.p.), Peru (+4.6 p.p.) and Guatemala (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Curacao and Colombia saw its share reduced by -1.8% and -50.9% from 2012 to 2022, respectively.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported fresh or chilled salmonoids fillets in Latin America and the Caribbean, comprising 66% of total imports. The second position in the ranking was taken by Bahamas ($X), with a 7.2% share of total imports. It was followed by Haiti, with a 6% share.

From 2012 to 2022, the average annual growth rate of value in the Dominican Republic totaled +19.4%. In the other countries, the average annual rates were as follows: Bahamas (+20.2% per year) and Haiti (+18.8% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 25% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled salmonoids fillets import price increased by +45.4% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 45%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while Bahamas ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Curacao (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :