Mexico: Frozen Fish Market 2024

Frozen Fish Market Size in Mexico

In 2022, the Mexican frozen fish market increased by X% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated strong growth 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 2019 indices. Frozen fish consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Frozen Fish Production in Mexico

In value terms, frozen fish production shrank modestly to $X in 2022 estimated in export price. Overall, the total production indicated notable growth 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by X%. Frozen fish production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Mexico

In 2022, approx. X tons of frozen fish were exported from Mexico; which is down by X% against the previous year's figure. In general, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish exports fell to $X in 2022. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen fish exports from Mexico, accounting for a X% share of total exports. Moreover, frozen fish exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a X% share.

From 2012 to 2022, 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: South Korea (X% per year) and Thailand (X% per year).

In value terms, the largest markets for frozen fish exported from Mexico were the United States ($X), South Korea ($X) and Spain ($X), with a combined X% share of total exports. Cote d'Ivoire, Thailand, Malaysia, the Dominican Republic, Panama and Canada lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Dominican Republic, 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

The average frozen fish export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of X%. The export price peaked in 2022 and is likely to continue growth in years to come.

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

Frozen Fish Imports

Imports into Mexico

After two years of growth, purchases abroad of frozen fish decreased by X% to X tons in 2022. Over the period under review, total imports indicated a temperate increase from 2012 to 2022: its volume 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 2019 indices. The growth pace was the most rapid in 2013 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports expanded notably 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 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Vietnam (X tons) and Chile (X tons) were the main suppliers of frozen fish imports to Mexico, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Chile ($X) and Vietnam ($X) were the largest frozen fish suppliers to Mexico, with a combined X% share of total imports.

Chile, 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 2022, the average frozen fish import price amounted to $X per ton, growing 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 ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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