Mexico: Frozen Fish Market 2024

Frozen Fish Market Size in Mexico

In 2022, the Mexican frozen fish market increased by X% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a buoyant increase 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Frozen Fish Production in Mexico

In value terms, frozen fish production contracted to $X in 2022 estimated in export price. Overall, the total production indicated a temperate increase 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Frozen fish production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Mexico

For the third year in a row, Mexico recorded decline in shipments abroad of frozen fish, which decreased by X% to X tons in 2022. Overall, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen fish exports contracted to $X in 2022. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen fish exports from Mexico, with a X% share of total exports. Moreover, frozen fish exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), fourfold. The Dominican Republic (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and the Dominican Republic (X% per year).

In value terms, the largest markets for frozen fish exported from Mexico were the United States ($X), South Korea ($X) and Spain ($X), with a combined X% share of total exports. Cote d'Ivoire, Thailand, Malaysia, the Dominican Republic and China lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a significant expansion. The growth pace was the most rapid in 2018 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Mexico

After two years of growth, purchases abroad of frozen fish decreased by X% to X tons in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports totaled $X in 2022. Overall, total imports indicated a prominent expansion 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and the United States (X tons) were the main suppliers of frozen fish imports to Mexico, with a combined X% share of total imports. Chile lagged somewhat behind, comprising a further X%.

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

In value terms, the largest frozen fish suppliers to Mexico were China ($X), Chile ($X) and Vietnam ($X), with a combined X% share of total imports.

Among the main suppliers, Chile, with a CAGR of X%, saw the highest rates of growth with regard to 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 average frozen fish import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for the United States ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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