Mexico: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Mexico

The Mexican seafood meals and pellets market soared to $X in 2021, surging by 16% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.8% against 2017 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Mexico

In value terms, seafood meals and pellets production expanded to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 59% against the previous year. Seafood meals and pellets production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Mexico

In 2021, overseas shipments of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -33.6% to X tons, falling for the third year in a row after three years of growth. In general, exports showed a deep downturn. The growth pace was the most rapid in 2017 with an increase of 317%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, seafood meals and pellets exports shrank significantly to $X in 2021. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 289%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), the United States (X tons) and Taiwan (Chinese) (X tons) were the main destinations of seafood meals and pellets exports from Mexico, together accounting for 91% of total exports. Guatemala and Honduras lagged somewhat behind, together comprising a further 9.3%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of +42.9%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) constituted the largest markets for seafood meals and pellets exported from Mexico worldwide, with a combined 90% share of total exports. These countries were followed by Honduras and Guatemala, which together accounted for a further 9.6%.

In terms of the main countries of destination, Honduras, with a CAGR of +45.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, picking up by 5% against the previous year. Overall, the export price enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Honduras ($X per ton) and China ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Mexico

In 2021, the amount of flours, meals and pellets of fish or of crustaceans and molluscs imported into Mexico plummeted to X tons, waning by -75.9% against 2020 figures. Over the period under review, imports recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 275% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, seafood meals and pellets imports contracted significantly to $X in 2021. In general, imports recorded a abrupt contraction. The pace of growth was the most pronounced in 2013 when imports increased by 256% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Peru (X tons), Chile (X tons) and the United States (X tons) were the main suppliers of seafood meals and pellets imports to Mexico, with a combined 100% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +96.4%), while imports for the other leaders experienced a decline.

In value terms, the largest seafood meals and pellets suppliers to Mexico were Peru ($X), Chile ($X) and the United States ($X), with a combined 99% share of total imports.

Peru, with a CAGR of +82.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, increasing by 1.7% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, seafood meals and pellets import price decreased by -16.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 69%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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