Europe: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Europe

After two years of growth, the Europe frozen fish and seafood market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2022, and then reduced modestly in the following year.

Production of Frozen Fish and Seafood in Europe

In value terms, frozen fish and seafood production amounted to $X in 2023 estimated in export price. In general, production recorded a mild increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports in Europe

Frozen fish and seafood exports dropped modestly to X tons in 2023, falling by X% compared with the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2022, and then contracted slightly in the following year.

In value terms, frozen fish and seafood exports totaled $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

Russia represented the largest exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Norway (X tons), the Netherlands (X tons) and Spain (X tons), together committing a X% share of total exports. Denmark (X tons), Germany (X tons), Faroe Islands (X tons), the UK (X tons), Portugal (X tons), Poland (X tons), Sweden (X tons) and Ireland (X tons) followed a long way behind the leaders.

Exports from Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Poland (X%), Sweden (X%), the Netherlands (X%), Denmark (X%) and Portugal (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. Spain and Faroe Islands experienced a relatively flat trend pattern. By contrast, Germany (X%), Norway (X%), the UK (X%) and Ireland (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands and Russia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Norway ($X) and Spain ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. The Netherlands, Denmark, Poland, Germany, Portugal, Sweden, the UK, Faroe Islands and Ireland lagged somewhat behind, together accounting for a further X%.

Sweden, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. The level of export peaked in 2023 and is likely to see steady growth in the immediate term.

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

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

Imports of Frozen Fish and Seafood

Imports in Europe

In 2023, imports of frozen fish and seafood in Europe reached X tons, approximately mirroring the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports contracted to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then contracted in the following year.

Imports by Country

Spain (X tons) and the Netherlands (X tons) represented roughly X% of total imports in 2023. Italy (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%), Germany (X%), Russia (X%), Poland (X%), Ukraine (X%) and the UK (X%). The following importers - Portugal (X tons), Denmark (X tons), Sweden (X tons) and Belgium (X tons) - together made up X% of total imports.

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

In value terms, Spain ($X), Italy ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. The Netherlands, Germany, the UK, Denmark, Russia, Poland, Portugal, Sweden, Belgium and Ukraine lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Denmark, with a CAGR of X%, recorded 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

The import price in Europe stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

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

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

Source: IndexBox Platform