Mexico: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Mexico

In 2023, the Mexican market for frozen, dried and smoked fish increased by X% to $X, rising for the third year in a row after four years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Frozen, Dried And Smoked Fish in Mexico

In value terms, frozen, dried and smoked fish production amounted to $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X%. Frozen, dried and smoked fish production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Exports of Frozen, Dried And Smoked Fish

Exports from Mexico

In 2023, approx. X tons of frozen, dried and smoked fish were exported from Mexico; which is down by X% against 2022 figures. In general, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, frozen, dried and smoked fish exports declined sharply to $X in 2023. Overall, exports saw a noticeable setback. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen, dried and smoked fish exports from Mexico, with a X% share of total exports. Moreover, frozen, dried and smoked fish exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, 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: Hong Kong SAR (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen, dried and smoked fish exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with an X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2023, the average export price for frozen, dried and smoked fish amounted to $X per ton, shrinking by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Imports of Frozen, Dried And Smoked Fish

Imports into Mexico

In 2023, the amount of frozen, dried and smoked fish imported into Mexico stood at X tons, increasing by X% against the previous year's figure. Overall, total imports indicated modest growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, frozen, dried and smoked fish imports fell to $X in 2023. Over the period under review, total imports indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. 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%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of frozen, dried and smoked fish to Mexico, with a X% share of total imports. Moreover, frozen, dried and smoked fish imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. The third position in this ranking was held by Chile (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Chile (X% per year).

In value terms, China ($X), Chile ($X) and Vietnam ($X) were the largest frozen, dried and smoked fish suppliers to Mexico, together accounting for X% of total imports. Nicaragua, Honduras, the United States and Spain lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Honduras, with a CAGR of X%, saw the highest growth rate of 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 2023, the average import price for frozen, dried and smoked fish amounted to $X per ton, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 an increase of X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, 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