U.S.: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in the U.S.

In 2021, the U.S. frozen fish meat market decreased by -25.3% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable contraction. Frozen fish meat consumption peaked at $X in 2020, and then declined sharply in the following year.

Frozen Fish Meat Production in the U.S.

In value terms, frozen fish meat production contracted modestly to $X in 2021. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +84.4% against 2015 indices. The growth pace was the most rapid in 2016 with an increase of 45% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped modestly in the following year.

Frozen Fish Meat Exports

Exports from the U.S.

After three years of decline, overseas shipments of frozen fish meat increased by 8.5% to X tons in 2021. The total export volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen fish meat exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea (X tons), Japan (X tons) and the Netherlands (X tons) were the main destinations of frozen fish meat exports from the United States, with a combined 71% share of total exports. These countries were followed by France, Canada, Spain, Lithuania, Thailand and Germany, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +16.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen fish meat exported from the United States were South Korea ($X), Japan ($X) and the Netherlands ($X), with a combined 69% share of total exports. These countries were followed by France, Canada, Spain, Lithuania, Thailand and Germany, which together accounted for a further 24%.

Thailand, with a CAGR of +14.2%, saw the highest growth rate of 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

In 2021, the average frozen fish meat export price amounted to $X per ton, with an increase of 2.2% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 8.4%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Canada ($X per ton) and Lithuania ($X per ton), while the average price for exports to South Korea ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into the U.S.

In 2021, purchases abroad of frozen fish meat was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen fish meat imports skyrocketed to $X in 2021. Overall, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 36%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Indonesia (X tons) and Vietnam (X tons) were the main suppliers of frozen fish meat imports to the United States, with a combined 60% share of total imports. China, India, Canada, Chile, Japan, the Philippines, Thailand, Suriname, Ecuador and Peru lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +68.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Russia ($X) appeared to be the largest frozen fish meat suppliers to the United States, with a combined 60% share of total imports. These countries were followed by Japan, Chile, Thailand, China, the Philippines, India, Suriname, Canada, Peru and Ecuador, which together accounted for a further 32%.

In terms of the main suppliers, India, with a CAGR of +67.2%, 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

The average frozen fish meat import price stood at $X per ton in 2021, which is down by -19.9% against the previous year. Overall, the import price saw a perceptible descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 10% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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