U.S.: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in the U.S.

The U.S. market for fish fillets and other fish meat soared to $X in 2022, rising by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Fish Fillets and Other Fish Meat

Exports from the U.S.

Exports of fish fillets and other fish meat from the United States reduced to X tons in 2022, waning by -10.8% on the year before. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 11% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of fish fillets and other fish meat reached $X in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 when exports increased by 8.6%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of exports of fish fillets and other fish meat from the United States, together accounting for 56% of total exports. Canada, France, Spain, Germany, Lithuania, China and Thailand lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +12.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fish fillets and other fish meat exported from the United States were Canada ($X), the Netherlands ($X) and South Korea ($X), with a combined 60% share of total exports. Japan, France, Spain, Germany, Lithuania, China and Thailand lagged somewhat behind, together accounting for a further 29%.

Lithuania, with a CAGR of +13.5%, 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

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, rising by 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Japan ($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 Lithuania (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into the U.S.

In 2022, approx. X tons of fish fillets and other fish meat were imported into the United States; increasing by 10% on the previous year's figure. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of fish fillets and other fish meat skyrocketed to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +57.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Chile (X tons) and Vietnam (X tons) were the main suppliers of imports of fish fillets and other fish meat to the United States, together accounting for 67% of total imports. Norway, Indonesia, Iceland and Canada lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of fish fillets and other fish meat to the United States, comprising 33% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile amounted to +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.2% per year) and Vietnam (+8.0% per year).

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. As a result, import price attained 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 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :