Puerto Rico: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2024

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Puerto Rico

The Puerto Rican meat and fish extracts market was estimated at less than $X in 2021, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports from Puerto Rico

In 2021, meat and fish extracts exports from Puerto Rico totaled less than X kg, standing approx. at the previous year. Over the period under review, exports recorded a relatively flat trend pattern.

In value terms, meat and fish extracts exports stood at less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Exports by Country

The shipments of the three major exporters of extracts and juices of meat, fish, crustaceans and molluscs, namely Thailand, Italy and China, represented more than half of total export. It was distantly followed by France (X tons) and the United States (X tons), together achieving a 10% share of total exports. South Korea (X tons), Belgium (X tons), Spain (X tons), New Zealand (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Brazil (X tons) and Canada (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Canada (with a CAGR of +43.5%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the largest meat and fish extracts supplier from Puerto Rico, comprising 19% of global exports. The second position in the ranking was held by Italy ($X), with an 8.8% share of global exports. It was followed by France, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value in New Zealand totaled +5.3%. In the other countries, the average annual rates were as follows: Italy (+9.3% per year) and France (+9.4% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+14.4%), while the other leaders experienced more modest paces of growth.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports into Puerto Rico

In 2021, the amount of extracts and juices of meat, fish, crustaceans and molluscs imported into Puerto Rico amounted to less than X kg, therefore, remained relatively stable against the previous year. Overall, imports saw a relatively flat trend pattern.

In value terms, meat and fish extracts imports totaled less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

In 2021, South Korea (X tons) represented the key importer of extracts and juices of meat, fish, crustaceans and molluscs, making up 28% of total imports. Japan (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (13%), the Philippines (7%) and Hungary (5.1%). The United States (X tons), France (X tons), Canada (X tons), Singapore (X tons), the UK (X tons), Belgium (X tons), Indonesia (X tons) and Germany (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +7.9% from 2012 to 2021. At the same time, the United States (+14.2%), the Philippines (+4.5%), Hong Kong SAR (+4.2%), Hungary (+2.7%) and Japan (+1.4%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in the world, with a CAGR of +14.2% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, France (-1.6%), Belgium (-2.1%), Canada (-2.4%), the UK (-4.4%), Germany (-6.2%) and Indonesia (-14.0%) illustrated a downward trend over the same period. While the share of South Korea (+11 p.p.), the United States (+2.8 p.p.) and Hong Kong SAR (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of France (-1.6 p.p.), Canada (-1.9 p.p.), the UK (-2.1 p.p.) and Indonesia (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2021, with a combined 37% share of total imports.

The United States, with a CAGR of +17.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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