Ireland: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Ireland

In 2023, the Irish frozen fish and seafood market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption 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, consumption increased by X% against 2021 indices. Over the period under review, the market hit record highs in 2023 and is likely to continue growth in the near future.

Production of Frozen Fish and Seafood in Ireland

In value terms, frozen fish and seafood production expanded slightly to $X in 2023 estimated in export price. Overall, production, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Frozen fish and seafood production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Exports of Frozen Fish and Seafood

Exports from Ireland

In 2023, overseas shipments of frozen fish and seafood decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports dropped dramatically to $X in 2023. Over the period under review, exports continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) was the main destination for frozen fish and seafood exports from Ireland, with a X% share of total exports. Moreover, frozen fish and seafood exports to Nigeria exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Nigeria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the UK (X% per year).

In value terms, Italy ($X), Nigeria ($X) and France ($X) appeared to be the largest markets for frozen fish and seafood exported from Ireland worldwide, with a combined X% share of total exports. The UK, Spain, Japan, China, Romania, Germany, Poland, Egypt, Congo and Cote d'Ivoire lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2023, the average frozen fish and seafood export price amounted to $X per ton, with an increase of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Congo ($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 the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Ireland

In 2023, approx. X tons of frozen fish and seafood were imported into Ireland; which is down by X% on the previous year's figure. Over the period under review, total imports indicated a resilient increase from 2012 to 2023: its volume 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, imports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports declined slightly to $X in 2023. Overall, total imports indicated a remarkable 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2022, and then dropped modestly in the following year.

Imports by Country

The UK (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of frozen fish and seafood imports to Ireland, with a combined X% share of total imports. India, Denmark, Spain, Russia, South Africa, Germany, Vietnam, France, Belgium and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to Ireland were the Netherlands ($X), the UK ($X) and China ($X), with a combined X% share of total imports. India, Denmark, Spain, Russia, South Africa, Vietnam, Germany, Belgium, France and Indonesia lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the UK ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform