Uruguay: Frozen Fish Meat Market 2025

Frozen Fish Meat Market Size in Uruguay

The Uruguayan frozen fish meat market soared to $X in 2021, growing by 21% against the previous year. Overall, consumption showed a resilient increase. Frozen fish meat consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Frozen Fish Meat Production in Uruguay

In value terms, frozen fish meat production expanded significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 25% against the previous year. Frozen fish meat production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Frozen Fish Meat Exports

Exports from Uruguay

In 2021, the amount of frozen fish meat exported from Uruguay expanded slightly to X tons, surging by 3.4% on 2020. In general, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 90% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen fish meat exports declined modestly to $X in 2021. Overall, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 56% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) and South Korea (X tons) were the main destinations of frozen fish meat exports from Uruguay.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +33.0%).

In value terms, the largest markets for frozen fish meat exported from Uruguay were the United States ($X) and South Korea ($X).

In terms of the main countries of destination, South Korea, with a CAGR of +34.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average frozen fish meat export price amounted to $X per ton, dropping by -3.7% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen fish meat export price decreased by -22.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 46% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+46.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports into Uruguay

In 2021, frozen fish meat imports into Uruguay skyrocketed to X tons, with an increase of 120% on the previous year. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 718% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, frozen fish meat imports soared to $X in 2021. In general, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 611% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) constituted the largest supplier of frozen fish meat to Uruguay, accounting for a 74% share of total imports. Moreover, frozen fish meat imports from Vietnam exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from Vietnam totaled +11.1%.

In value terms, the largest frozen fish meat suppliers to Uruguay were Vietnam ($X) and Chile ($X).

Chile, with a CAGR of +29.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2021, the average frozen fish meat import price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen fish meat import price increased by +63.3% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 27% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Vietnam stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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