Belgium: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Belgium

After two years of growth, the Belgian frozen cuttlefishes market decreased by -17.5% to $X in 2021. Overall, consumption, however, continues to indicate a noticeable expansion. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Frozen Cuttlefishes Production in Belgium

In value terms, frozen cuttlefishes production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +59.8% against 2014 indices. The pace of growth was the most pronounced in 2020 with an increase of 42%. As a result, production reached the peak level of $X, and then declined in the following year.

Frozen Cuttlefishes Exports

Exports from Belgium

In 2021, overseas shipments of frozen cuttlefishes were finally on the rise to reach X tons for the first time since 2012, thus ending a eight-year declining trend. Over the period under review, exports, however, faced a significant decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports skyrocketed to $X in 2021. In general, exports, however, faced a dramatic setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for frozen cuttlefishes exports from Belgium, with a 50% share of total exports. Moreover, frozen cuttlefishes exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. Denmark (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany amounted to -26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-44.3% per year) and Denmark (-14.9% per year).

In value terms, the largest markets for frozen cuttlefishes exported from Belgium were France ($X), Germany ($X) and Denmark ($X), together comprising 83% of total exports. Luxembourg, Mozambique, the Netherlands, Hungary, Spain and Italy lagged somewhat behind, together comprising a further 17%.

Mozambique, with a CAGR of 0.0%, saw 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 a decline.

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, with a decrease of -18.3% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes export price increased by +59.2% against 2014 indices. The pace of growth was the most pronounced in 2020 an increase of 31%. As a result, the export price attained the peak level of $X per ton, and then reduced notably in the following year.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Belgium

In 2021, supplies from abroad of frozen cuttlefishes decreased by -20.2% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2017 with an increase of 88%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports fell to $X in 2021. In general, imports showed a sharp decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 98% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest frozen cuttlefishes supplier to Belgium, accounting for a 68% share of total imports. Moreover, frozen cuttlefishes imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. The third position in this ranking was taken by the Netherlands (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at -17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-25.2% per year) and the Netherlands (-26.4% per year).

In value terms, Spain ($X) constituted the largest supplier of frozen cuttlefishes to Belgium, comprising 53% of total imports. The second position in the ranking was held by France ($X), with a 23% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at -16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-17.4% per year) and the Netherlands (-20.6% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, surging by 18% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +90.5% against 2015 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 33%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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