Northern America: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in Northern America

The North American market for cod, salted or in brine soared to $X in 2022, growing by 49% against the previous year. Over the period under review, consumption, however, saw a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Cod, Salted or in Brine in Northern America

In value terms, cod, salted or in brine production expanded slightly to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Cod, Salted or in Brine

Exports in Northern America

In 2022, approx. X tons of cod, salted or in brine were exported in Northern America; picking up by 8.8% against the year before. Overall, exports saw buoyant growth. The growth pace was the most rapid in 2021 when exports increased by 65% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cod, salted or in brine exports fell to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 25%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Canada dominates exports structure, finishing at X tons, which was approx. 98% of total exports in 2022. The United States (X tons) followed a long way behind the leaders.

Canada was also the fastest-growing in terms of the cod, salted or in brine exports, with a CAGR of +7.6% from 2012 to 2022. The United States (-17.8%) illustrated a downward trend over the same period. While the share of Canada (+20 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-20 p.p.) displayed negative dynamics.

In value terms, Canada ($X) remains the largest cod, salted or in brine supplier in Northern America, comprising 97% of total exports. The second position in the ranking was held by the United States ($X), with a 2.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Canada was relatively modest.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, shrinking by -15.7% against the previous year. Overall, the export price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 40%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.4%).

Imports of Cod, Salted or in Brine

Imports in Northern America

In 2022, imports of cod, salted or in brine in Northern America surged to X tons, growing by 36% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cod, salted or in brine imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of cod, salted or in brine imports in 2022 were Canada (X tons) and the United States (X tons), together finishing at 99% of total import.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +10.3%).

In value terms, the largest cod, salted or in brine importing markets in Northern America were the United States ($X) and Canada ($X).

In terms of the main importing countries, the United States, with a CAGR of +1.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, waning by -14.8% against the previous year. Over the period under review, the import price saw a noticeable curtailment. The pace of growth appeared the most rapid in 2018 when the import price increased by 5.5%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-4.1%).

Source: IndexBox Platform

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