MERCOSUR: Market for Fish Fillets and Other Fish Meat 2025

Market Size for Fish Fillets and Other Fish Meat in MERCOSUR

For the third consecutive year, the MERCOSUR market for fish fillets and other fish meat recorded decline in sales value, which decreased by -10.7% to $X in 2022. Overall, consumption recorded a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Fish Fillets and Other Fish Meat in MERCOSUR

In value terms, production of fish fillets and other fish meat shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production of attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Fish Fillets and Other Fish Meat

Exports in MERCOSUR

In 2022, overseas shipments of fish fillets and other fish meat increased by 5.2% to X tons, rising for the fifth consecutive year after three years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 7.8%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, exports of fish fillets and other fish meat surged to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +48.7% against 2020 indices. 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) was the major exporter of fish fillets and other fish meat, constituting 72% of total exports. Argentina (X tons) ranks second in terms of the total exports with a 15% share, followed by Peru (5.1%). Ecuador (X tons) and Colombia (X tons) followed a long way behind the leaders.

Exports from Chile increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Colombia (+13.8%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +13.8% from 2012-2022. By contrast, Peru (-1.4%), Argentina (-2.5%) and Ecuador (-4.4%) illustrated a downward trend over the same period. Chile (+13 p.p.) and Colombia (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Peru, Ecuador and Argentina saw its share reduced by -2.2%, -3.2% and -9.1% from 2012 to 2022, respectively.

In value terms, Chile ($X) remains the largest fish fillets and other fish meat supplier in MERCOSUR, comprising 86% of total exports. The second position in the ranking was held by Argentina ($X), with a 5% share of total exports. It was followed by Peru, with a 3.2% share.

In Chile, exports of fish fillets and other fish meat expanded at an average annual rate of +9.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (-2.6% per year) and Peru (-0.3% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, picking up by 16% against the previous year. Over the last decade, it increased at an average annual rate of +5.1%. The pace of growth was the most pronounced in 2017 when the export price increased by 17% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.3%), while the other leaders experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports in MERCOSUR

Imports of fish fillets and other fish meat declined to X tons in 2022, waning by -7.8% on 2021 figures. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fish fillets and other fish meat expanded significantly to $X in 2022. Over the period under review, imports showed a pronounced downturn. The pace of growth was the most pronounced in 2021 when imports increased by 23%. Over the period under review, imports of attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the major importing country with an import of about X tons, which accounted for 65% of total imports. Colombia (X tons) ranks second in terms of the total imports with a 13% share, followed by Peru (9.1%) and Chile (8.1%). The following importers - Uruguay (X tons) and Ecuador (X tons) - together made up 4.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to fish fillets and other fish meat imports into Brazil stood at -7.7%. At the same time, Peru (+5.6%), Chile (+5.4%) and Uruguay (+4.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +5.6% from 2012-2022. By contrast, Ecuador (-5.4%) and Colombia (-5.7%) illustrated a downward trend over the same period. While the share of Peru (+6.4 p.p.), Chile (+5.7 p.p.) and Uruguay (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (-8.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported fish fillets and other fish meat in MERCOSUR, comprising 63% of total imports. The second position in the ranking was held by Colombia ($X), with a 14% share of total imports. It was followed by Chile, with an 8.2% share.

In Brazil, imports of fish fillets and other fish meat decreased by an average annual rate of -4.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (-1.1% per year) and Chile (+6.7% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, surging by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. As a result, import price reached 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 Ecuador ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform