EU: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in the EU

In 2023, the EU frozen fish and seafood market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. 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 declined in the following year.

Production of Frozen Fish and Seafood in the EU

In value terms, frozen fish and seafood production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then fell in the following year.

Exports of Frozen Fish and Seafood

Exports in the EU

In 2023, overseas shipments of frozen fish and seafood decreased by X% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports totaled $X in 2023. Total exports indicated tangible growth 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, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to continue growth in years to come.

Exports by Country

In 2023, the Netherlands (X tons) and Spain (X tons) represented the main exporters of frozen fish and seafood in the European Union, together making up X% of total exports. Denmark (X tons) ranks next in terms of the total exports with an X% share, followed by Germany (X%) and Portugal (X%). The following exporters - Poland (X tons), Sweden (X tons), Ireland (X tons), France (X tons), Belgium (X tons) and Estonia (X tons) - together made up X% of total exports.

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

In value terms, Spain ($X), the Netherlands ($X) and Denmark ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Poland, Germany, Portugal, Belgium, Sweden, France, Ireland and Estonia lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Sweden, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, 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 the European Union amounted to $X per ton, growing 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 2021 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Estonia ($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 the EU

In 2023, after two years of growth, there was decline in purchases abroad of frozen fish and seafood, when their volume decreased by X% to X tons. In general, imports, however, showed a relatively flat trend pattern. 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 hit record highs at X tons in 2022, and then dropped in the following year.

In value terms, frozen fish and seafood imports contracted slightly to $X in 2023. The total import value increased at an average annual rate of X% 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 imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then fell modestly 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) held the next position in the ranking, followed by France (X tons), Germany (X tons), Poland (X tons), Portugal (X tons) and Denmark (X tons). All these countries together took approx. X% share of total imports.

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

In value terms, the largest frozen fish and seafood importing markets in the European Union were Spain ($X), Italy ($X) and France ($X), together comprising X% of total imports. The Netherlands, Germany, Denmark, Poland and Portugal lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Denmark, with a CAGR of X%, saw the highest rates of growth with regard to 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 import price in the European Union amounted to $X per ton, standing approx. at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform