Report Update Nov 1, 2024

Azerbaijan - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Azerbaijan: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Azerbaijan

The Azerbaijani fish fat and oil market rose slightly to $X in 2022, with an increase of 3% against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. Fish fat and oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Fish Fats And Oils in Azerbaijan

In value terms, fish fat and oil production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.0% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 24%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Imports of Fish Fats And Oils

Imports into Azerbaijan

After two years of growth, supplies from abroad of fish fats and oils decreased by -37.8% to X tons in 2022. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of 598% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, fish fat and oil imports fell to $X in 2022. Overall, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 580%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Georgia (X tons) constituted the largest fish fat and oil supplier to Azerbaijan, with a 73% share of total imports. Moreover, fish fat and oil imports from Georgia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Russia (X kg), with a 2.1% share.

From 2014 to 2022, the average annual rate of growth in terms of volume from Georgia amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+38.2% per year) and Russia (+136.9% per year).

In value terms, the largest fish fat and oil suppliers to Azerbaijan were Georgia ($X), Turkey ($X) and China ($X), with a combined 96% share of total imports. Russia lagged somewhat behind, comprising a further 3.6%.

Russia, with a CAGR of +73.1%, recorded the highest growth rate of the value of imports, among 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 fish fat and oil import price stood at $X per ton in 2022, surging by 44% against the previous year. Over the period under review, the import price, however, faced a dramatic downturn. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Georgia ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Iceland (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fish fats and oils in the world?

Norway remains the largest fish fat and oil consuming country worldwide, comprising approx. 60% of total volume. Moreover, fish fat and oil consumption in Norway exceeded the figures recorded by the second-largest consumer, China, more than tenfold. The third position in this ranking was occupied by the United States, with a 3.4% share.

What are the largest producers of fish fats and oils in the world?

Norway remains the largest fish fat and oil producing country worldwide, comprising approx. 60% of total volume. Moreover, fish fat and oil production in Norway exceeded the figures recorded by the second-largest producer, China, more than tenfold. The United States ranked third in terms of total production with a 3.6% share.

What are the leading suppliers of fish fats and oils to Azerbaijan?

In value terms, Georgia constituted the largest supplier of fish fat and oil to Azerbaijan, comprising 95% of total imports. The second position in the ranking was occupied by Russia, with a 4.8% share of total imports.

What is the average import price for fish fats and oils in Azerbaijan?

In 2021, the average fish fat and oil import price amounted to $1,946 per ton, falling by -58.4% against the previous year.

This report provides an in-depth analysis of the market for fish fat and oil in Azerbaijan. 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 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)

Country coverage:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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 In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023