U.S.: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in the U.S.

The U.S. inedible fish products market reduced modestly to $X in 2022, leveling off at the previous year. Overall, consumption, however, continues to indicate a strong expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in the U.S.

In value terms, inedible fish products production declined slightly to $X in 2022. Over the period under review, production, however, saw a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 45%. Inedible fish products production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Inedible Fish Products Exports

Exports from the U.S.

In 2022, the amount of inedible fish products exported from the United States dropped to X tons, declining by -13.3% compared with 2021 figures. Overall, exports continue to indicate a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of 15%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports amounted to $X in 2022. In general, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +18.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 40%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of inedible fish products exports from the United States, with a combined 58% share of total exports. Canada, Vietnam, Taiwan (Chinese), Ecuador, Turkey, India, Bahamas, Colombia, Thailand and Indonesia lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Bahamas (with a CAGR of +37.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inedible fish products exported from the United States were Canada ($X), Vietnam ($X) and Ecuador ($X), together comprising 40% of total exports. India, Turkey, Thailand, Japan, Indonesia, Mexico, China, Colombia, Bahamas and Taiwan (Chinese) lagged somewhat behind, together comprising a further 38%.

Bahamas, with a CAGR of +49.8%, 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

In 2022, the average inedible fish products export price amounted to $X per ton, picking up by 19% against the previous year. Overall, the export price posted buoyant growth. The pace of growth appeared the most rapid in 2017 an increase of 40%. The export price peaked in 2022 and is expected to retain growth in years to come.

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 India ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Japan (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into the U.S.

In 2022, supplies from abroad of inedible fish products increased by 0.7% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, inedible fish products imports soared to $X in 2022. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Canada (X tons) constituted the largest inedible fish products supplier to the United States, with a 36% share of total imports. Moreover, inedible fish products imports from Canada exceeded the figures recorded by the second-largest supplier, Iceland (X tons), threefold. The third position in this ranking was held by Denmark (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Iceland (+40.8% per year) and Denmark (+112.6% per year).

In value terms, Canada ($X) constituted the largest supplier of inedible fish products to the United States, comprising 32% of total imports. The second position in the ranking was taken by Iceland ($X), with an 8.6% share of total imports. It was followed by Denmark, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Iceland (+38.6% per year) and Denmark (+68.9% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, with an increase of 17% against the previous year. Overall, the import price, however, recorded a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Iceland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :