Latin America and the Caribbean: Frozen Fish Meat Market 2025

Frozen Fish Meat Market Size in Latin America and the Caribbean

In 2021, the Latin American frozen fish meat market increased by 0.6% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Frozen Fish Meat Production in Latin America and the Caribbean

In value terms, frozen fish meat production reduced to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Frozen Fish Meat Exports

Exports in Latin America and the Caribbean

In 2021, the amount of frozen fish meat exported in Latin America and the Caribbean expanded slightly to X tons, growing by 2.2% on 2020 figures. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 30%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, frozen fish meat exports amounted to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 24% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Chile represented the major exporting country with an export of around X tons, which recorded 65% of total exports. Argentina (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Peru (9.3%). Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to frozen fish meat exports from Chile stood at +2.1%. At the same time, Peru (+4.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +4.6% from 2012-2021. By contrast, Argentina (-3.1%) and Ecuador (-14.8%) illustrated a downward trend over the same period. Chile (+11 p.p.) and Peru (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Ecuador and Argentina saw its share reduced by -5.6% and -6.8% from 2012 to 2021, respectively.

In value terms, Chile ($X) remains the largest frozen fish meat supplier in Latin America and the Caribbean, comprising 84% of total exports. The second position in the ranking was held by Argentina ($X), with a 7.9% share of total exports. It was followed by Peru, with a 5.8% share.

In Chile, frozen fish meat exports expanded at an average annual rate of +6.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-3.1% per year) and Peru (+6.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, which is down by -1.7% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.7% 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 fish meat export price decreased by +0.7% against 2019 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 36%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, 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, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Argentina ($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 (+4.0%), while the other leaders experienced mixed trends in the export price figures.

Frozen Fish Meat Imports

Imports in Latin America and the Caribbean

In 2021, imports of frozen fish meat in Latin America and the Caribbean skyrocketed to X tons, increasing by 43% on the previous year's figure. In general, imports, however, recorded a noticeable downturn. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, frozen fish meat imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible contraction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Colombia represented the largest importer of frozen fish meat in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. 32% of total imports in 2021. Brazil (X tons) held the second position in the ranking, followed by the Dominican Republic (X tons), Mexico (X tons), Chile (X tons), Costa Rica (X tons) and Guatemala (X tons). All these countries together held near 47% share of total imports. Anguilla (X tons), Panama (X tons), Trinidad and Tobago (X tons), Uruguay (X tons), Jamaica (X tons) and Peru (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +125.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported frozen fish meat in Latin America and the Caribbean, comprising 24% of total imports. The second position in the ranking was taken by Colombia ($X), with an 8.7% share of total imports. It was followed by Mexico, with an 8.2% share.

In Brazil, frozen fish meat imports plunged by an average annual rate of -7.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (-2.4% per year) and Mexico (-7.0% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, flattening at the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2017 when the import price increased by 24% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Panama ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Anguilla (+16.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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