Northern America: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Northern America

In 2021, after four years of growth, there was significant decline in the North American preserved anchovies market, when its value decreased by -14% to $X. Overall, consumption, however, saw a tangible expansion. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Preserved Anchovies Production in Northern America

In value terms, preserved anchovies production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, showed a pronounced expansion. The growth pace was the most rapid in 2020 with an increase of 46% against the previous year. As a result, production reached the peak level of $X, and then fell sharply in the following year.

Preserved Anchovies Exports

Exports in Northern America

In 2021, overseas shipments of anchovies (prepared or preserved) increased by 144% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 944%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved anchovies exports surged to $X in 2021. Overall, exports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 197%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of anchovies (prepared or preserved), namely the United States, represented more than two-thirds of total export.

The United States was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of -23.6% from 2012 to 2021. The United States (+3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest preserved anchovies supplier in Northern America.

In the United States, preserved anchovies exports plunged by an average annual rate of -15.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, with a decrease of -5.5% against the previous year. Over the period under review, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2019 an increase of 221% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then declined in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +10.2% per year.

Preserved Anchovies Imports

Imports in Northern America

In 2021, imports of anchovies (prepared or preserved) in Northern America stood at X tons, picking up by 7.8% compared with the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 14%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved anchovies imports stood at $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 17% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) represented the key importer of anchovies (prepared or preserved), comprising 77% of total imports. It was distantly followed by Canada (X tons), achieving a 23% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved anchovies imports into the United States stood at -1.3%. At the same time, Canada (+3.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +3.2% from 2012-2021. Canada (+6.3 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -6.3% from 2012 to 2021, respectively.

In value terms, the United States ($X) constitutes the largest market for imported anchovies (prepared or preserved) in Northern America, comprising 89% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports.

In the United States, preserved anchovies imports remained relatively stable over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, dropping by -2.1% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 6.8% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.8%).

Source: IndexBox Platform

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