Canada: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Canada

In 2022, the Canadian fish fat and oil market increased by X% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Fish Fats And Oils in Canada

In value terms, fish fat and oil production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed a buoyant expansion. Fish fat and oil production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Exports of Fish Fats And Oils

Exports from Canada

After six years of growth, overseas shipments of fish fats and oils decreased by X% to X tons in 2022. Overall, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell rapidly in the following year.

In value terms, fish fat and oil exports contracted to $X in 2022. In general, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Switzerland (X tons) were the main destinations of fish fat and oil exports from Canada, together comprising X% of total exports.

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

In value terms, the United States ($X), the Netherlands ($X) and Switzerland ($X) appeared to be the largest markets for fish fat and oil exported from Canada worldwide, with a combined X% share of total exports.

Switzerland, with a CAGR of X%, 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 fish fat and oil export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

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 South Korea ($X per ton), while the average price for exports to Spain ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Imports of Fish Fats And Oils

Imports into Canada

In 2022, approx. X tons of fish fats and oils were imported into Canada; which is down by X% compared with the previous year's figure. In general, imports recorded a slight descent. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, fish fat and oil imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Peru (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of fish fat and oil imports to Canada, together comprising X% of total imports. Denmark, Norway, Japan, India and Chile lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest fish fat and oil suppliers to Canada were Peru ($X), the United States ($X) and Mexico ($X), together accounting for X% of total imports. Denmark, Norway, Japan, India and Chile lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fish fat and oil import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw a temperate expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, 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 Peru ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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