Northern America: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Northern America

The North American inedible fish products market contracted to $X in 2022, leveling off at the previous year. In general, consumption, however, posted a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Northern America

In value terms, inedible fish products production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 40%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports in Northern America

In 2022, approx. X tons of inedible fish products were exported in Northern America; dropping by -14.5% compared with the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 37% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports stood at $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +23.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 34%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Canada (X tons) represented the largest exporter of inedible fish products, making up 69% of total exports. It was distantly followed by the United States (X tons), generating a 31% share of total exports.

Canada was also the fastest-growing in terms of the inedible fish products exports, with a CAGR of +3.2% from 2012 to 2022. The United States (-4.7%) illustrated a downward trend over the same period. While the share of Canada (+19 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-18.8 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest inedible fish products supplier in Northern America, comprising 79% of total exports. The second position in the ranking was held by Canada ($X), with a 21% share of total exports.

In the United States, inedible fish products exports expanded at an average annual rate of +5.0% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by 17% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the export price increased by 30% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.1%).

Inedible Fish Products Imports

Imports in Northern America

Inedible fish products imports rose remarkably to X tons in 2022, growing by 10% on the previous year's figure. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 27%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, inedible fish products imports skyrocketed to $X in 2022. In general, imports recorded resilient growth. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) and Canada (X tons) was the main importer of inedible fish products in Northern America, generating 99.9% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United States (with a CAGR of +9.8%).

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Canada, with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, growing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price reached 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 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 (+4.3%).

Source: IndexBox Platform

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