Northern America: Preserved Tuna Market 2024

Preserved Tuna Market Size in Northern America

The North American preserved tuna market contracted to $X in 2021, waning by -10.5% against the previous year. Over the period under review, consumption recorded a mild contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Tuna Production in Northern America

In value terms, preserved tuna production rose to $X in 2021 estimated in export price. Overall, production continues to indicate a mild expansion. The growth pace was the most rapid in 2015 with an increase of 34%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Preserved Tuna Exports

Exports in Northern America

In 2021, shipments abroad of tuna (prepared or preserved) increased by 5.1% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 67%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved tuna exports reached $X in 2021. Overall, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2015 with an increase of 83%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States prevails in exports structure, resulting at X tons, which was near 91% of total exports in 2021. It was distantly followed by Canada (X tons), constituting a 9.1% share of total exports.

The United States was also the fastest-growing in terms of the tuna (prepared or preserved) exports, with a CAGR of -4.4% from 2012 to 2021. Canada (-7.3%) illustrated a downward trend over the same period. While the share of the United States (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Canada (-2.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest preserved tuna supplier in Northern America, comprising 92% of total exports. The second position in the ranking was held by Canada ($X), with an 8.4% share of total exports.

In the United States, preserved tuna exports declined by an average annual rate of -3.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, with an increase of 3.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

Preserved Tuna Imports

Imports in Northern America

In 2021, after four years of growth, there was significant decline in supplies from abroad of tuna (prepared or preserved), when their volume decreased by -21.3% to X tons. Over the period under review, imports saw a mild decrease. The pace of growth was the most pronounced in 2020 with an increase of 21% against the previous year. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, preserved tuna imports fell significantly to $X in 2021. Overall, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 15%. The level of import peaked at $X in 2020, and then contracted markedly in the following year.

Imports by Country

In 2021, the United States (X tons) represented the major importer of tuna (prepared or preserved), making up 87% of total imports. It was distantly followed by Canada (X tons), committing a 13% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved tuna imports into the United States stood at -1.6%. Canada experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported tuna (prepared or preserved) in Northern America, comprising 87% of total imports. The second position in the ranking was taken by Canada ($X), with a 13% share of total imports.

In the United States, preserved tuna imports shrank by an average annual rate of -2.2% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, increasing by 4.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 9.6%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

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 (-0.1%).

Source: IndexBox Platform

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