Argentina: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Argentina

In 2023, the Argentinian frozen fish and seafood market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2018 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen Fish and Seafood in Argentina

In value terms, frozen fish and seafood production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X%. Frozen fish and seafood production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

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Exports of Frozen Fish and Seafood

Exports from Argentina

Frozen fish and seafood exports from Argentina reduced modestly to X tons in 2023, shrinking by X% against the previous year. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, frozen fish and seafood exports reached $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Spain (X tons), China (X tons) and Brazil (X tons) were the main destinations of frozen fish and seafood exports from Argentina, with a combined X% share of total exports. South Korea, Italy, Russia, Thailand, the United States, Japan, Cameroon, Peru, Vietnam and Ukraine lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and the United States ($X) were the largest markets for frozen fish and seafood exported from Argentina worldwide, with a combined X% share of total exports. Italy, Japan, Brazil, Thailand, Russia, Peru, South Korea, Vietnam, Cameroon and Ukraine lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Peru, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average frozen fish and seafood export price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Argentina

In 2023, frozen fish and seafood imports into Argentina skyrocketed to X tons, increasing by X% compared with the previous year. In general, imports saw a pronounced expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood imports surged to $X in 2023. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, Chile (X tons) constituted the largest supplier of frozen fish and seafood to Argentina, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Chile exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. The third position in this ranking was held by Ecuador (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Chile amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Ecuador (X% per year).

In value terms, Chile ($X) constituted the largest supplier of frozen fish and seafood to Argentina, comprising X% of total imports. The second position in the ranking was taken by Ecuador ($X), with an X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, picking up by X% against the previous year. Overall, import price indicated a measured increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, frozen fish and seafood import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. The import price peaked in 2023 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform