U.S.: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in the U.S.

The U.S. seafood meals and pellets market rose notably to $X in 2021, with an increase of 13% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.4% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in the U.S.

In value terms, seafood meals and pellets production rose slightly to $X in 2021. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.8% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. Seafood meals and pellets production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from the U.S.

In 2021, overseas shipments of flours, meals and pellets of fish or of crustaceans and molluscs decreased by -15.8% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2019 when exports increased by 12%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, seafood meals and pellets exports reduced to $X in 2021. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 28% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for seafood meals and pellets exports from the United States, accounting for a 53% share of total exports. Moreover, seafood meals and pellets exports to China exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+5.0% per year) and South Korea (+19.5% per year).

In value terms, China ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from the United States, comprising 52% of total exports. The second position in the ranking was held by Canada ($X), with a 22% share of total exports. It was followed by South Korea, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+7.4% per year) and South Korea (+23.3% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, with an increase of 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 19% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to Indonesia ($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 Denmark (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into the U.S.

In 2021, supplies from abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by 23% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, seafood meals and pellets imports surged to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +23.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 30%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Chile (X tons), Mexico (X tons) and Argentina (X tons) were the main suppliers of seafood meals and pellets imports to the United States, with a combined 76% share of total imports. Norway, Brazil, France, Denmark and Canada lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +83.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to the United States were Chile ($X), Mexico ($X) and Norway ($X), with a combined 78% share of total imports.

In terms of the main suppliers, Norway, with a CAGR of +88.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2015 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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