Peru: Market for Dried Or Smoked Fish 2025

Market Size for Dried Or Smoked Fish in Peru

In 2021, after three years of growth, there was significant decline in the Peruvian dried or smoked fish market, when its value decreased by -21.1% to $X. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Dried or smoked fish consumption peaked at $X in 2020, and then declined remarkably in the following year.

Production of Dried Or Smoked Fish in Peru

In value terms, dried or smoked fish production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 50% against the previous year. Dried or smoked fish production peaked at $X in 2020, and then reduced in the following year.

Exports of Dried Or Smoked Fish

Exports from Peru

In 2021, shipments abroad of dried or smoked fish increased by 91% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, dried or smoked fish exports surged to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +109.7% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons), Italy (X tons) and Japan (X tons) were the main destinations of dried or smoked fish exports from Peru, together accounting for 73% of total exports. Hong Kong SAR, Morocco, Ecuador, China and Chile lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +62.6%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Japan ($X) and Italy ($X) constituted the largest markets for dried or smoked fish exported from Peru worldwide, together comprising 73% of total exports.

Italy, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average dried or smoked fish export price amounted to $X per ton, which is down by -4.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 33%. The export price peaked at $X per ton in 2020, and then contracted modestly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+22.6%), while the prices for the other major destinations experienced a decline.

Imports of Dried Or Smoked Fish

Imports into Peru

Dried or smoked fish imports into Peru declined rapidly to X tons in 2021, waning by -36.1% on 2020 figures. Overall, imports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by 148%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, dried or smoked fish imports skyrocketed to $X in 2021. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 179% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Argentina (X tons), Ecuador (X tons) and Spain (X tons) were the main suppliers of dried or smoked fish imports to Peru, with a combined 98% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +92.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Ecuador ($X) constituted the largest supplier of dried or smoked fish to Peru, comprising 86% of total imports. The second position in the ranking was held by Argentina ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Ecuador stood at +90.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+2.3% per year) and Spain (+58.3% per year).

Import Prices by Country

The average dried or smoked fish import price stood at $X per ton in 2021, surging by 120% against the previous year. In general, the import price posted significant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ecuador ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+32.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :