Peru: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Peru

The Peruvian market for fish fillets and other fish meat reached $X in 2022, with an increase of 10% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Fish Fillets and Other Fish Meat in Peru

In value terms, production of fish fillets and other fish meat reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 18%. Production of peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Fish Fillets and Other Fish Meat

Exports from Peru

In 2022, the amount of fish fillets and other fish meat exported from Peru declined to X tons, shrinking by -10% against the previous year's figure. Over the period under review, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 26%. Over the period under review, the exports of attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of fish fillets and other fish meat contracted to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of fish fillets and other fish meat from Peru, with a 40% share of total exports. Moreover, exports of fish fillets and other fish meat to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+13.1% per year) and Germany (-4.9% per year).

In value terms, the United States ($X) remains the key foreign market for fish fillets and other fish meat exports from Peru, comprising 58% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Ecuador, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+12.9% per year) and Ecuador (+10.0% per year).

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, falling by -5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2020 an increase of 21%. The export price peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+13.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fish Fillets and Other Fish Meat

Imports into Peru

After three years of growth, overseas purchases of fish fillets and other fish meat decreased by -9.4% to X tons in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +10.9% against 2017 indices. The growth pace was the most rapid in 2014 when imports increased by 36% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, imports of fish fillets and other fish meat shrank to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +16.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 41% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest fish fillets and other fish meat supplier to Peru, accounting for a 72% share of total imports. Moreover, imports of fish fillets and other fish meat from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The third position in this ranking was held by Chile (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-7.1% per year) and Chile (+16.0% per year).

In value terms, China ($X) constituted the largest supplier of fish fillets and other fish meat to Peru, comprising 63% of total imports. The second position in the ranking was held by Chile ($X), with a 15% share of total imports. It was followed by Vietnam, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+17.4% per year) and Vietnam (-10.5% per year).

Import Prices by Country

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, with a decrease of -3.1% against the previous year. Over the period under review, the import price continues to indicate a slight curtailment. The growth pace was the most rapid in 2021 an increase of 8.5% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :