Mexico: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Mexico

The Mexican frozen crustaceans market fell slightly to $X in 2022, with a decrease of X% against the previous year. The market 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 being recorded in certain years. Frozen crustaceans consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Frozen Crustaceans Production in Mexico

In value terms, frozen crustaceans production contracted modestly 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 remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Frozen crustaceans production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Frozen Crustaceans Exports

Exports from Mexico

For the third consecutive year, Mexico recorded decline in overseas shipments of frozen crustaceans, which decreased by X% to X tons in 2022. In general, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, frozen crustaceans exports rose markedly to $X in 2022. Overall, total exports indicated resilient 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 decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen crustaceans exports from Mexico, accounting for a X% share of total exports. Moreover, frozen crustaceans exports to the United States exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%.

In value terms, the United States ($X) remains the key foreign market for frozen crustaceans exports from Mexico, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

The average frozen crustaceans export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price 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, frozen crustaceans export price increased by X% against 2020 indices. The growth pace was the most rapid in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Frozen Crustaceans Imports

Imports into Mexico

In 2022, approx. X tons of frozen crustaceans were imported into Mexico; falling by X% compared with the previous year's figure. Overall, imports, however, showed a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen crustaceans imports fell dramatically to $X in 2022. In general, imports, however, showed slight growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nicaragua (X tons) and Honduras (X tons) were the main suppliers of frozen crustaceans imports to Mexico.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%).

In value terms, the largest frozen crustaceans suppliers to Mexico were Nicaragua ($X) and Honduras ($X).

In terms of the main suppliers, Honduras, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The average frozen crustaceans import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price showed a perceptible decline. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Honduras ($X per ton), while the price for Nicaragua stood at $X per ton.

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

Source: IndexBox Platform

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