Latin America and the Caribbean: Frozen Fish Market 2024

Frozen Fish Market Size in Latin America and the Caribbean

The Latin American frozen fish market shrank to $X in 2022, falling by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Frozen Fish Production in Latin America and the Caribbean

In value terms, frozen fish production contracted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Frozen Fish Exports

Exports in Latin America and the Caribbean

In 2022, exports of frozen fish in Latin America and the Caribbean surged to X tons, increasing by X% compared with the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish exports surged 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 in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Chile (X tons) represented the major exporter of frozen fish, making up X% of total exports. Argentina (X tons) ranks second in terms of the total exports with a X% share, followed by Ecuador (X%) and Peru (X%). Uruguay (X tons), Brazil (X tons) and Venezuela (X tons) held a relatively small share of total exports.

Exports from Chile increased at an average annual rate of X% from 2012 to 2022. At the same time, Venezuela (X%), Ecuador (X%), Brazil (X%) and Peru (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Uruguay (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Ecuador and Venezuela increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest frozen fish supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Chile totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Peru (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

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

Frozen Fish Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of frozen fish were imported in Latin America and the Caribbean; with a decrease of X% against the previous year. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, frozen fish imports expanded sharply to $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 remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

Brazil (X tons) and Mexico (X tons) were the main importers of frozen fish in 2022, resulting at near X% and X% of total imports, respectively. Colombia (X tons) held the next position in the ranking, followed by Ecuador (X tons) and Peru (X tons). All these countries together held near X% share of total imports. Costa Rica (X tons), Guatemala (X tons), the Dominican Republic (X tons), Jamaica (X tons) and El Salvador (X tons) took a relatively small share of total imports.

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

In value terms, the largest frozen fish importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Colombia ($X), with a combined X% share of total imports. Ecuador, Peru, Costa Rica, the Dominican Republic, Guatemala, Jamaica and El Salvador lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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, increasing by X% against the previous year. Over the last decade, 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 Mexico ($X per ton), while Ecuador ($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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