Northern America: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Northern America

In 2023, after four years of growth, there was significant decline in the North American frozen fish and seafood market, when its value decreased by X% to $X. The total consumption indicated a temperate increase from 2012 to 2023: its value 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 level of consumption peaked at $X in 2022, and then fell in the following year.

Production of Frozen Fish and Seafood in Northern America

In value terms, frozen fish and seafood production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Frozen Fish and Seafood

Exports in Northern America

In 2023, frozen fish and seafood exports in Northern America shrank slightly to X tons, leveling off at the previous year. In general, exports showed a noticeable decline. The growth pace was the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports contracted remarkably to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, the United States (X tons) represented the main exporter of frozen fish and seafood, mixing up X% of total exports. It was distantly followed by Canada (X tons), constituting a X% share of total exports.

The United States was also the fastest-growing in terms of the frozen fish and seafood exports, with a CAGR of X% from 2012 to 2023. Canada (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United States increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of exports in 2023.

In terms of the main exporting countries, Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2023, which is down by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%).

Imports of Frozen Fish and Seafood

Imports in Northern America

In 2023, approx. X tons of frozen fish and seafood were imported in Northern America; which is down 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 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. 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 tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, frozen fish and seafood imports contracted markedly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then contracted sharply in the following year.

Imports by Country

The United States represented the largest importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Canada (X tons), making up a X% share of total imports.

The United States was also the fastest-growing in terms of the frozen fish and seafood imports, with a CAGR of X% from 2012 to 2023. Canada experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported frozen fish and seafood in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United States amounted to X%.

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per ton, reducing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then contracted in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform