Peru: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Peru

In 2022, the Peruvian frozen fish and seafood market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Frozen Fish And Seafood in Peru

In value terms, frozen fish and seafood production declined modestly to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports from Peru

In 2022, approx. X tons of frozen fish and seafood were exported from Peru; falling by X% compared with 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, frozen fish and seafood exports reduced rapidly to $X in 2022. In general, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Spain (X tons), China (X tons) and South Korea (X tons) were the main destinations of frozen fish and seafood exports from Peru, together accounting for X% of total exports. Thailand, Japan, the United States, Cote d'Ivoire, Cameroon, Italy, Russia, Mexico, Ghana and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Cameroon (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Spain ($X) and China ($X) were the largest markets for frozen fish and seafood exported from Peru worldwide, together accounting for X% of total exports. South Korea, Japan, Thailand, Italy, Mexico, Cote d'Ivoire, Russia, Cameroon, Brazil and Ghana lagged somewhat behind, together comprising a further X%.

Cameroon, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

The average frozen fish and seafood export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 ($X per ton), while the average price for exports to Cote d'Ivoire ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Peru

After four years of decline, overseas purchases of frozen fish and seafood increased by X% to X tons in 2022. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports surged to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Chile (X tons), Argentina (X tons) and the United States (X tons) were the main suppliers of frozen fish and seafood imports to Peru, together comprising X% of total imports. China, Ecuador, Vietnam and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) constituted the largest supplier of frozen fish and seafood to Peru, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Chile (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish and seafood import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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