Colombia: Frozen Fish Market 2024

Frozen Fish Market Size in Colombia

In 2022, the Colombian frozen fish market increased by X% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a strong 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 2020 indices. Frozen fish consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Frozen Fish Production in Colombia

In value terms, frozen fish production dropped to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Frozen Fish Exports

Exports from Colombia

In 2022, the amount of frozen fish exported from Colombia reduced to X tons, shrinking by X% compared with the year before. Overall, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, frozen fish exports expanded sharply to $X in 2022. Over the period under review, exports saw a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Ecuador (X tons) was the main destination for frozen fish exports from Colombia, accounting for a X% share of total exports. Moreover, frozen fish exports to Ecuador exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Ecuador amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and the United States (X% per year).

In value terms, the largest markets for frozen fish exported from Colombia were the United States ($X), Ecuador ($X) and Guatemala ($X), together accounting for X% of total exports.

Among the main countries of destination, Guatemala, 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 2022, the average frozen fish export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, showed a noticeable decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Japan (X%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Fish Imports

Imports into Colombia

In 2022, the amount of frozen fish imported into Colombia declined remarkably to X tons, waning by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, frozen fish imports contracted to $X in 2022. In general, total imports indicated a strong expansion 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of frozen fish to Colombia, with a X% share of total imports. Moreover, frozen fish imports from Vietnam exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. The third position in this ranking was held by China (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (X% per year) and China (X% per year).

In value terms, the largest frozen fish suppliers to Colombia were Chile ($X), Vietnam ($X) and China ($X), with a combined X% share of total imports. Uruguay, Seychelles, Argentina, Cote d'Ivoire, Ecuador and Senegal lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Seychelles, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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