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World - Frozen Fish - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Frozen Fish - Market Analysis, Forecast, Size, Trends and Insights

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Jul 3, 2020

Global Frozen Fish Market - Pandemic Impact on Industry Development

IndexBox has just published a new report: 'World - Frozen Fish - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2019, frozen fish trade decreased both in kind and in value terms, mainly due to geopolitical tensions holding back economic growth. In particular, the trade conflict between China and the United States of America, the world's two largest frozen fish merchants, affected business revenue through tariffs and wider economic uncertainty. According to FAO conclusions, this volatile market environment has led to exceptional price volatility across several categories of fish products. Prices have hit record lows or highs for several key species, including tuna, pangasius, and salmon.

By the end of 2019, the prospects for 2020 were somewhat more positive, as the global geopolitical situation looked like improving. However, the unprecedented for our time, the COVID-19 pandemic has completely revolutionized the global economy. In an attempt to contain the spread of the virus, governments around the world have introduced a number of measures, including directives on social exclusion, restrictions on working hours, and travel restrictions. The frozen fish sector, along with most industries, faces a gloomy forecast of demand, as well as a number of supply problems.

With the closure of the restaurant industry, the demand for catering services has evaporated, while retail sales have been marked by extreme volatility, as periods of panic shopping are accompanied by constant lulls. Demand for canned and frozen foods has risen sharply, as households tend to stock up on non-perishable food with fresh seafood. At the same time, online distributors are reporting increased interest as consumers are exploring home-based retail alternatives. However, in general, demand fell sharply, and prices fell on many types, especially those that are important for the restaurant industry. Other effects of the outbreak include the reversal of key seafood trade events, many of which provide important opportunities for networking in the industry and sourcing.

With regard to supply, labor shortages and other economic problems, including grim prospects for demand, have an extremely negative impact on seafood production worldwide. The delay in fisheries in aquaculture and a sharp decline in stocks, while the entire fishing fleet is idle. Subsequent actions, including processors, were affected by a lack of raw materials in addition to other operational difficulties. At the same time, logistics became expensive and slow, as carriers had to deal with closed or limited road borders and delays in medical examinations, while large-scale cancellations of flights directly affected the trade in some high-quality fresh products that are transported by air.

Frozen Fish Trade 2014-2018

In 2018, the global exports of frozen fish amounted to 17M tons, increasing by 6.5% against the previous year. The total export volume increased at an average annual rate of +2.8% from 2014 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 7.1% year-to-year. Over the period under review, global frozen fish exports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, frozen fish exports stood at $43.9B (IndexBox estimates) in 2018.

Exports by Country

The exports of the twelve major exporters of frozen fish, namely China, Russia, the U.S., Vietnam, Norway, the Netherlands, Chile, Taiwan, Chinese, Japan, Spain, Namibia and India, represented more than half of total export.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while exports for the other global leaders experienced more modest paces of growth.

In value terms, China ($7.6B) remains the largest frozen fish supplier worldwide, comprising 17% of global exports. The second position in the ranking was occupied by the U.S. ($3.6B), with a 8.2% share of global exports. It was followed by Russia, with a 6.7% share.

Export Prices by Country

In 2018, the average frozen fish export price amounted to $2,574 per ton, increasing by 2.9% against the previous year. Over the period under review, the frozen fish export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 2.9% y-o-y. Over the period under review, the average export prices for frozen fish attained their maximum at $2,628 per ton in 2014; afterwards, it flattened through to 2018.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($5,059 per ton), while Namibia ($1,334 per ton) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other global leaders experienced more modest paces of growth.

Imports by Country

In 2018, China (2.2M tons), followed by Thailand (1.4M tons), Japan (1.4M tons), the U.S. (1M tons) and South Korea (0.9M tons) were the largest importers of frozen fish, together making up 40% of total imports. The following importers - Vietnam (706K tons), Nigeria (581K tons), Spain (515K tons), the Netherlands (470K tons), Germany (436K tons), Cameroon (404K tons) and Russia (371K tons) - together made up 20% of total imports.

From 2014 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest frozen fish importing markets worldwide were Japan ($6B), the U.S. ($5B) and China ($4B), together comprising 34% of global imports. Thailand, South Korea, Vietnam, Germany, Spain, the Netherlands, Russia, Nigeria and Cameroon lagged somewhat behind, together accounting for a further 29%.

Import Prices by Country

The average frozen fish import price stood at $2,582 per ton in 2018, picking up by 2.2% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($5,112 per ton), while Nigeria ($839 per ton) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global frozen fish market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10201330 - Frozen whole salt water fish
  • Prodcom 10201360 - Frozen whole fresh water fish
  • Prodcom 10201400 - Frozen fish fillets
  • Prodcom 10201500 - Frozen fish meat without bones (excluding fillets)
  • Prodcom 10201600 - Frozen fish livers and roes

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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