Mexico: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Mexico

In 2023, the Mexican market for frozen, dried and smoked fish increased by X% to $X, rising for the third year in a row after four years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.

Production of Frozen, Dried And Smoked Fish in Mexico

In value terms, frozen, dried and smoked fish production stood at $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports from Mexico

In 2023, approx. X tons of frozen, dried and smoked fish were exported from Mexico; shrinking by X% against the previous year's figure. In general, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, frozen, dried and smoked fish exports declined remarkably to $X in 2023. Overall, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen, dried and smoked fish exports from Mexico, with a X% share of total exports. Moreover, frozen, dried and smoked fish exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen, dried and smoked fish exports from Mexico, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average export price for frozen, dried and smoked fish stood at $X per ton in 2023, falling by X% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Hong Kong SAR ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen, Dried And Smoked Fish

Imports into Mexico

Frozen, dried and smoked fish imports into Mexico reached X tons in 2023, surging by X% against the previous year. Overall, total imports indicated a slight expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, frozen, dried and smoked fish imports contracted to $X in 2023. Over the period under review, total imports indicated pronounced growth from 2012 to 2023: its value 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. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest frozen, dried and smoked fish supplier to Mexico, with a X% share of total imports. Moreover, frozen, dried and smoked fish imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was taken by Chile (X tons), with a X% share.

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

In value terms, China ($X), Chile ($X) and Vietnam ($X) appeared to be the largest frozen, dried and smoked fish suppliers to Mexico, with a combined X% share of total imports. Nicaragua, Honduras, the United States and Spain lagged somewhat behind, together accounting for a further X%.

Honduras, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2023, the average import price for frozen, dried and smoked fish amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, 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 Chile ($X per ton), while the price for Spain ($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