Northern America: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Northern America

In 2021, the North American frozen whole fish market increased by 3.5% to $X, rising for the third consecutive year after three years of decline. Overall, consumption, however, showed prominent growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Frozen Whole Fish Production in Northern America

In value terms, frozen whole fish production reached $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Frozen Whole Fish Exports

Exports in Northern America

After three years of decline, shipments abroad of frozen whole fish increased by 14% to X tons in 2021. In general, exports, however, showed a mild slump. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, frozen whole fish exports skyrocketed to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X tons) was the key exporter of frozen whole fish, generating 73% of total exports. Canada (X tons) took the second position in the ranking, followed by Greenland (X tons). All these countries together took approx. 27% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to frozen whole fish exports from the United States stood at -3.0%. At the same time, Greenland (+5.8%) displayed positive paces of growth. Moreover, Greenland emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +5.8% from 2012-2021. Canada experienced a relatively flat trend pattern. Greenland (+5.9 p.p.) and Canada (+3 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -9% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest frozen whole fish supplier in Northern America, comprising 72% of total exports. The second position in the ranking was taken by Greenland ($X), with a 16% share of total exports.

In the United States, frozen whole fish exports decreased by an average annual rate of -1.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Greenland (+6.7% per year) and Canada (-0.3% per year).

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, growing by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. 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 2021, amid the top suppliers, the country with the highest price was Greenland ($X per ton), while Canada ($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 (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Frozen Whole Fish Imports

Imports in Northern America

In 2021, purchases abroad of frozen whole fish was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen whole fish imports surged to $X in 2021. The total import value increased at an average annual rate of +5.5% over the period from 2012 to 2021; 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.

Imports by Country

The United States represented the major importing country with an import of about X tons, which reached 78% of total imports. It was distantly followed by Canada (X tons), achieving a 22% share of total imports.

The United States was also the fastest-growing in terms of the frozen whole fish imports, with a CAGR of +4.6% from 2012 to 2021. At the same time, Canada (+2.5%) displayed positive paces of growth. While the share of the United States (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Canada (-3.3 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported frozen whole fish in Northern America, comprising 78% of total imports. The second position in the ranking was held by Canada ($X), with a 22% share of total imports.

In the United States, frozen whole fish imports increased at an average annual rate of +5.6% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, increasing by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The level of import peaked at $X per ton in 2015; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.5%).

Source: IndexBox Platform

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