Overview of the Global Market for Fresh Or Chilled Salmonoids Fillets

Market Size for Fresh Or Chilled Salmonoids Fillets

In 2022, the global market for fresh or chilled salmonoids fillets increased by 23% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Salmonoids Fillets

In value terms, fresh or chilled salmonoids fillets production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 53%. Over the period under review, global production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports

For the sixth consecutive year, the global market recorded decline in overseas shipments of fresh or chilled salmonoids fillets, which decreased by -20.7% to X tons in 2022. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 61%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the global exports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets exports dropped to $X in 2022. In general, exports showed a pronounced decline. The pace of growth appeared the most rapid in 2013 with an increase of 24% against the previous year. The global exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Angola (X tons) represented the key exporter of fresh or chilled salmonoids fillets, creating 34% of total exports. Morocco (X tons) ranks second in terms of the total exports with an 11% share, followed by Panama (6.8%), Oman (6.5%) and Pakistan (5.7%). The following exporters - India (X tons), Mauritania (X tons), Benin (X tons), Spain (X tons), Greece (X tons), the United States (X tons) and Mozambique (X tons) - together made up 22% of total exports.

Exports from Angola increased at an average annual rate of +32.1% from 2012 to 2022. At the same time, Benin (+45.4%), Mozambique (+9.7%), Spain (+4.1%) and Pakistan (+4.0%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in the world, with a CAGR of +45.4% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Greece (-1.8%), Morocco (-3.5%), Mauritania (-7.3%), Oman (-13.1%), Panama (-26.0%) and India (-27.3%) illustrated a downward trend over the same period. While the share of Angola (+33 p.p.), Panama (+6.8 p.p.), Pakistan (+3.9 p.p.), Morocco (+3.7 p.p.), Benin (+3.2 p.p.), Mozambique (+1.9 p.p.) and Spain (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Oman (-5.8 p.p.) and India (-45 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Angola ($X) remains the largest fresh or chilled salmonoids fillets supplier worldwide, comprising 39% of global exports. The second position in the ranking was held by Morocco ($X), with a 16% share of global exports. It was followed by Spain, with a 6% share.

In Angola, fresh or chilled salmonoids fillets exports expanded at an average annual rate of +2.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (+5.0% per year) and Spain (+13.6% per year).

Export Prices by Country

The average export price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, increasing by 10% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh or chilled salmonoids fillets export price increased by +93.1% against 2014 indices. The growth pace was the most rapid in 2018 when the average export price increased by 23%. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.1%), while the other global leaders experienced more modest paces of growth.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports

In 2022, supplies from abroad of fresh or chilled salmonoids fillets decreased by -3.4% to X tons, falling for the sixth consecutive year after two years of growth. Overall, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Global imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, fresh or chilled salmonoids fillets imports amounted to $X in 2022. In general, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2016 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

The countries with the highest levels of fresh or chilled salmonoids fillets imports in 2022 were Portugal (X tons), Italy (X tons), Spain (X tons), the United States (X tons), China (X tons), Afghanistan (X tons), Poland (X tons), Singapore (X tons), Greece (X tons), Benin (X tons), Togo (X tons) and the Czech Republic (X tons), together recording 72% of total import. Canada (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +49.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest fresh or chilled salmonoids fillets importing markets worldwide were Portugal ($X), Spain ($X) and Singapore ($X), with a combined 30% share of global imports. The United States, Italy, Poland, Benin, Greece, the Czech Republic, China, Canada, Afghanistan and Togo lagged somewhat behind, together comprising a further 42%.

Poland, with a CAGR of +47.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, surging by 6.7% against the previous year. Overall, the import price enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 an increase of 28% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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