Latin America and the Caribbean: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Latin America and the Caribbean

The Latin American frozen fish and seafood market fell to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then fell in the following year.

Production of Frozen Fish And Seafood in Latin America and the Caribbean

In value terms, frozen fish and seafood production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports in Latin America and the Caribbean

In 2022, the amount of frozen fish and seafood exported in Latin America and the Caribbean expanded notably to X tons, increasing by X% against the year before. Total exports indicated measured growth 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, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports soared to $X in 2022. Total exports indicated strong growth 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, exports increased by X% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Ecuador (X tons) was the major exporter of frozen fish and seafood, making up X% of total exports. Chile (X tons) ranks second in terms of the total exports with a X% share, followed by Argentina (X%) and Peru (X%). Venezuela (X tons), Uruguay (X tons) and Nicaragua (X tons) followed a long way behind the leaders.

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

In value terms, the largest frozen fish and seafood supplying countries in Latin America and the Caribbean were Ecuador ($X), Chile ($X) and Argentina ($X), with a combined X% share of total exports. Peru, Venezuela, Nicaragua and Uruguay lagged somewhat behind, together comprising a further X%.

Venezuela, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

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

Imports of Frozen Fish And Seafood

Imports in Latin America and the Caribbean

Frozen fish and seafood imports fell to X tons in 2022, shrinking by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

Brazil (X tons) and Mexico (X tons) represented roughly X% of total imports in 2022. Colombia (X tons) held the next position in the ranking, followed by Ecuador (X tons), Peru (X tons) and Guatemala (X tons). All these countries together took approx. X% share of total imports. The Dominican Republic (X tons), Costa Rica (X tons), Chile (X tons), Jamaica (X tons) and El Salvador (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (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 importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Colombia ($X), together accounting for X% of total imports. Peru, Ecuador, Guatemala, the Dominican Republic, Chile, Costa Rica, Jamaica and El Salvador lagged somewhat behind, together accounting for a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, jumping 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 attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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