MERCOSUR: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in MERCOSUR

The MERCOSUR frozen crustaceans market expanded modestly to $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Frozen Crustaceans Production in MERCOSUR

In value terms, frozen crustaceans production amounted to $X in 2023 estimated in export price. The total production indicated a perceptible 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. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Frozen Crustaceans Exports

Exports in MERCOSUR

In 2023, after nine years of growth, there was significant decline in overseas shipments of frozen crustaceans, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, frozen crustaceans exports fell to $X in 2023. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then reduced in the following year.

Exports by Country

Ecuador was the largest exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Argentina (X tons), creating an X% share of total exports. The following exporters - Peru (X tons) and Venezuela (X tons) - each accounted for a X% share of total exports.

Exports from Ecuador increased at an average annual rate of X% from 2012 to 2023. At the same time, Venezuela (X%), Peru (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Ecuador increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest frozen crustaceans supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with an X% share of total exports. It was followed by Peru, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Ecuador stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Peru (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Peru ($X per ton) and Ecuador ($X per ton), while Venezuela ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Venezuela (X%), while the other leaders experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports in MERCOSUR

In 2023, imports of frozen crustaceans in MERCOSUR expanded slightly to X tons, picking up by X% against 2022 figures. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports totaled $X in 2023. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of frozen crustaceans, namely Colombia, Peru and Chile, represented more than two-thirds of total import. Brazil (X tons) and Uruguay (X tons) held a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Peru (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen crustaceans importing markets in MERCOSUR were Peru ($X), Colombia ($X) and Chile ($X), together comprising X% of total imports.

Peru, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

The import price in MERCOSUR stood at $X per ton in 2023, dropping 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 2013 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform