Latin America and the Caribbean: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in Latin America and the Caribbean

The Latin American frozen cuttlefishes market expanded modestly to $X in 2021, surging by 2.8% against the previous year. Overall, consumption, however, showed a significant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Frozen Cuttlefishes Production in Latin America and the Caribbean

In value terms, frozen cuttlefishes production expanded to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.1% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 32%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Frozen Cuttlefishes Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of frozen cuttlefishes were exported in Latin America and the Caribbean; increasing by 52% against the previous year's figure. In general, exports, however, showed a sharp slump. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports surged to $X in 2021. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 54% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Peru was the major exporter of frozen cuttlefishes in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was near 55% of total exports in 2021. It was distantly followed by Argentina (X tons), generating a 32% share of total exports. Chile (X tons), Ecuador (X tons) and Uruguay (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ecuador (with a CAGR of -20.5%), while the other leaders experienced a decline in the exports figures.

In value terms, Argentina ($X), Peru ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 89% share of total exports. These countries were followed by Ecuador and Uruguay, which together accounted for a further 5.5%.

Ecuador, with a CAGR of -17.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by -4.4% against the previous year. Overall, the export price, however, continues to indicate a strong increase. The pace of growth appeared the most rapid in 2018 when the export price increased by 38%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per ton), while Peru ($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 (+20.6%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in Latin America and the Caribbean

In 2021, frozen cuttlefishes imports in Latin America and the Caribbean surged to X tons, picking up by 56% compared with the previous year. In general, imports, however, saw a abrupt decline. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports skyrocketed to $X in 2021. Overall, imports, however, showed a abrupt setback. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons), Colombia (X tons) and the Dominican Republic (X tons) represented roughly 70% of total imports in 2021. Venezuela (X tons) took a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (7%) and Uruguay (5.3%). Panama (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Dominican Republic (with a CAGR of -3.6%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest frozen cuttlefishes importing markets in Latin America and the Caribbean were Uruguay ($X), Colombia ($X) and the Dominican Republic ($X), together comprising 63% of total imports.

Uruguay, with a CAGR of +5.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, falling by -10.7% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +69.8% against 2015 indices. The pace of growth was the most pronounced in 2020 when the import price increased by 25%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Uruguay ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uruguay (+28.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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