Northern America: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Northern America

In 2022, the North American market for fish fillets and other fish meat increased by 43% to $X, rising for the third consecutive year after three years of decline. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +86.1% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Fish Fillets and Other Fish Meat in Northern America

In value terms, production of fish fillets and other fish meat amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 14%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports in Northern America

Exports of fish fillets and other fish meat shrank to X tons in 2022, which is down by -12% on 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 9.5% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of fish fillets and other fish meat stood at $X in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 8.4%. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

The United States prevails in meat structure, finishing at X tons, which was near 91% of total exports in 2022. It was distantly followed by Canada (X tons), comprising an 8.8% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of fish fillets and other fish meat. Canada experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest fish fillets and other fish meat supplier in Northern America, comprising 78% of total exports. The second position in the ranking was held by Canada ($X), with a 22% share of total exports.

In the United States, exports of fish fillets and other fish meat expanded at an average annual rate of +1.4% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.5%).

Imports of Fish Fillets and Other Fish Meat

Imports in Northern America

For the third year in a row, Northern America recorded growth in supplies from abroad of fish fillets and other fish meat, which increased by 9.6% to X tons in 2022. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of fish fillets and other fish meat skyrocketed to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +56.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the main importer of fish fillets and other fish meat in Northern America, with the volume of imports accounting for X tons, which was near 89% of total imports in 2022. It was distantly followed by Canada (X tons), creating an 11% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fish fillets and other fish meat imports into the United States stood at +2.0%. At the same time, Canada (+3.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +3.1% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported fish fillets and other fish meat in Northern America, comprising 90% of total imports. The second position in the ranking was taken by Canada ($X), with a 9.7% share of total imports.

In the United States, imports of fish fillets and other fish meat expanded at an average annual rate of +5.9% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, increasing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.9%).

Source: IndexBox Platform

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