Canada: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Canada

In 2022, the Canadian frozen norway lobster market increased by X% to $X, rising for the second year in a row after six years of decline. Over the period under review, consumption, however, continues to indicate a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Norway Lobster Production in Canada

In value terms, frozen norway lobster production totaled less than $X in 2022 estimated in export price. Overall, production, however, faced a dramatic slump. The most prominent rate of growth was recorded in 2018 when the production volume decreased by X%. Frozen norway lobster production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports from Canada

In 2022, after three years of decline, there was significant growth in shipments abroad of frozen norway lobsters, when their volume increased by X% to X tons. Over the period under review, exports continue to indicate a significant increase. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports surged to $X in 2022. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for frozen norway lobster exports from Canada, accounting for a approx. X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%.

In value terms, the United States ($X) emerged as the key foreign market for frozen norway lobsters exports from Canada.

From 2013 to 2022, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

In 2022, the average frozen norway lobster export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2013 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Frozen Norway Lobster Imports

Imports into Canada

In 2022, approx. X tons of frozen norway lobsters were imported into Canada; with a decrease of X% against 2021 figures. In general, imports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen norway lobster imports contracted markedly to $X in 2022. Overall, imports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iceland (X tons) constituted the largest frozen norway lobster supplier to Canada, accounting for a X% share of total imports. Moreover, frozen norway lobster imports from Iceland exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), more than tenfold. Morocco (X kg) ranked third in terms of total imports with a X% share.

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

In value terms, Iceland ($X) constituted the largest supplier of frozen norway lobsters to Canada, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with an X% share of total imports. It was followed by Morocco, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Iceland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Morocco (X% per year).

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Morocco ($X per ton), while the price for Iceland ($X per ton) and France ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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