Peru: Frozen Fish Market 2024

Frozen Fish Market Size in Peru

After two years of growth, the Peruvian frozen fish market decreased by X% to $X in 2022. In general, the total consumption indicated pronounced 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. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Frozen Fish Production in Peru

In value terms, frozen fish production expanded modestly to $X in 2022 estimated in export price. In general, the total production 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, production decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Frozen Fish Exports

Exports from Peru

In 2022, frozen fish exports from Peru shrank to X tons, which is down by X% against the year before. Overall, exports, however, enjoyed a slight expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, frozen fish exports expanded rapidly to $X in 2022. In general, exports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Cote d'Ivoire (X tons), Cameroon (X tons) and the United States (X tons) were the main destinations of frozen fish exports from Peru, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cameroon (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest markets for frozen fish exported from Peru worldwide, with a combined X% share of total exports. Cote d'Ivoire, Ecuador, Cameroon, South Korea, Germany, Ghana, Brazil, Spain, Nigeria and Russia lagged somewhat behind, together accounting for a further X%.

Cameroon, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, with an increase of X% against the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2022: its price 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, frozen fish export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Ecuador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Peru

In 2022, after four years of decline, there was significant growth in overseas purchases of frozen fish, when their volume increased by X% to X tons. Overall, total imports indicated a prominent expansion 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 decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports soared to $X in 2022. In general, total imports indicated resilient 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. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

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

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

In value terms, Chile ($X), China ($X) and Vietnam ($X) were the largest frozen fish suppliers to Peru, together comprising X% of total imports. The United States, Ecuador, Spain and Nicaragua lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average frozen fish import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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