U.S.: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in the U.S.

The U.S. fresh fish fillet market soared to $X in 2021, surging by 29% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Fresh Fish Fillet Production in the U.S.

In value terms, fresh fish fillet production stood at $X in 2021. Over the period under review, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 -0.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 30%. Fresh fish fillet production peaked at $X in 2019; afterwards, it flattened through to 2021.

Fresh Fish Fillet Exports

Exports from the U.S.

In 2021, overseas shipments of fresh or chilled fish fillets increased by 12% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 16% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, fresh fish fillet exports surged to $X in 2021. The total export value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for fresh fish fillet exports from the United States, accounting for a approx. 95% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest.

In value terms, Canada ($X) also remains the key foreign market for fresh or chilled fish fillets exports from the United States.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +3.8%.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, surging by 3.1% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 32%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to +4.3% per year.

Fresh Fish Fillet Imports

Imports into the U.S.

For the tenth year in a row, the United States recorded growth in supplies from abroad of fresh or chilled fish fillets, which increased by 11% to X tons in 2021. The total import volume increased at an average annual rate of +5.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet imports soared to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Chile (X tons) constituted the largest supplier of fresh fish fillet to the United States, with a 59% share of total imports. Moreover, fresh fish fillet imports from Chile exceeded the figures recorded by the second-largest supplier, Norway (X tons), fivefold. Canada (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from Chile amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+23.1% per year) and Canada (+1.8% per year).

In value terms, Chile ($X) constituted the largest supplier of fresh or chilled fish fillets to the United States, comprising 60% of total imports. The second position in the ranking was held by Norway ($X), with a 13% share of total imports. It was followed by Canada, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from Chile totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+26.0% per year) and Canada (+5.4% per year).

Import Prices by Country

In 2021, the average fresh fish fillet import price amounted to $X per ton, jumping by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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