U.S.: Ice Market 2024

Ice Market Size in the U.S.

In 2021, after two years of decline, there was growth in the U.S. ice market, when its value increased by 2.9% to $X. The market value increased at an average annual rate of +1.7% over the period from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Ice consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Ice Production in the U.S.

In value terms, ice production rose slightly to $X in 2021. The total output value increased at an average annual rate of +1.9% over the period from 2013 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Ice Exports

Exports from the U.S.

In 2021, overseas shipments of ice increased by 43% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 130% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, ice exports fell to $X in 2021. In general, exports showed a strong expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 71%. Over the period under review, the exports hit record highs at $X in 2020, and then declined in the following year.

Exports by Country

Canada (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of ice exports from the United States, together accounting for 62% of total exports. These countries were followed by Taiwan (Chinese), Panama, Australia, Hong Kong SAR, the Netherlands, El Salvador, Guatemala and Bahamas, which together accounted for a further 25%.

From 2013 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +229.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ice exported from the United States were Canada ($X), Japan ($X) and Mexico ($X), with a combined 58% share of total exports. These countries were followed by the Netherlands, Australia, Taiwan (Chinese), Hong Kong SAR, Panama, Bahamas, El Salvador and Guatemala, which together accounted for a further 24%.

Guatemala, with a CAGR of +129.4%, recorded the highest rates of growth with regard to 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

The average ice export price stood at $X per ton in 2021, with a decrease of -35.9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 33% against the previous year. The export price peaked at $X per ton in 2020, and then fell markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Ice Imports

Imports into the U.S.

In 2021, supplies from abroad of ice was finally on the rise to reach X tons after two years of decline. Overall, total imports indicated a resilient expansion from 2013 to 2021: its volume increased at an average annual rate of +9.0% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.6% against 2018 indices. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ice imports surged to $X in 2021. The total import value increased at an average annual rate of +5.1% over the period from 2013 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Fiji (X tons) constituted the largest supplier of ice to the United States, with a 72% share of total imports. Moreover, ice imports from Fiji exceeded the figures recorded by the second-largest supplier, Canada (X tons), sixfold. The third position in this ranking was held by Italy (X tons), with a 7.8% share.

From 2013 to 2021, the average annual growth rate of volume from Fiji stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+9.6% per year) and Italy (+6.1% per year).

In value terms, Fiji ($X) constituted the largest supplier of ice to the United States, comprising 77% of total imports. The second position in the ranking was held by Italy ($X), with a 6.2% share of total imports. It was followed by Canada, with a 5% share.

From 2013 to 2021, the average annual growth rate of value from Fiji totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.8% per year) and Canada (-4.9% per year).

Import Prices by Country

In 2021, the average ice import price amounted to $X per ton, declining by -10.6% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2019 an increase of 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+17.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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