Latin America and the Caribbean: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Latin America and the Caribbean

In 2022, the Latin American frozen norway lobster market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption saw a modest expansion. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Frozen Norway Lobster Production in Latin America and the Caribbean

In value terms, frozen norway lobster production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

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Frozen Norway Lobster Exports

Exports in Latin America and the Caribbean

After two years of decline, overseas shipments of frozen norway lobsters increased by X% to X tons in 2022. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, frozen norway lobster exports surged to $X in 2022. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ecuador (X tons) represented the largest exporter of frozen norway lobsters, creating X% of total exports. Argentina (X tons) ranks second in terms of the total exports with a X% share, followed by Venezuela (X%).

Ecuador was also the fastest-growing in terms of the frozen norway lobsters exports, with a CAGR of X% from 2012 to 2022. At the same time, Venezuela (X%) and Argentina (X%) displayed positive paces of growth. From 2012 to 2022, the share of Ecuador and Venezuela increased by X and X percentage points, respectively.

In value terms, Ecuador ($X) emerged as the largest frozen norway lobster supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports.

In Ecuador, frozen norway lobster exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Venezuela (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price recorded a tangible increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced mixed trends in the export price figures.

Frozen Norway Lobster Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of frozen norway lobsters was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports showed a slight increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen norway lobster imports skyrocketed to $X in 2022. In general, imports posted a strong expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Aruba represented the largest importer of frozen norway lobsters in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Bahamas (X tons) ranks second in terms of the total imports with a X% share, followed by Panama (X%). The following importers - Costa Rica (X kg), the Dominican Republic (X kg), Barbados (X kg) and Uruguay (X kg) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen norway lobster imports into Aruba stood at X%. At the same time, Bahamas (X%), Panama (X%), Costa Rica (X%), Uruguay (X%) and the Dominican Republic (X%) displayed positive paces of growth. Moreover, Bahamas emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Barbados experienced a relatively flat trend pattern. Aruba (X p.p.), Bahamas (X p.p.), Panama (X p.p.), Barbados (X p.p.), Uruguay (X p.p.) and Costa Rica (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Aruba ($X) constitutes the largest market for imported frozen norway lobsters in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Bahamas ($X), with a X% share of total imports. It was followed by Barbados, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Aruba totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Bahamas (X% per year) and Barbados (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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