Benelux: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Benelux

In 2022, the Benelux frozen norway lobster market decreased by -37.2% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption faced a abrupt downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Frozen Norway Lobster Production in Benelux

In value terms, frozen norway lobster production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports in Benelux

Frozen norway lobster exports contracted to X tons in 2022, falling by -12.2% against the year before. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen norway lobster exports dropped to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +14.7% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 28%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

The shipments of the one major exporters of frozen norway lobsters, namely the Netherlands, represented more than two-thirds of total export.

The Netherlands was also the fastest-growing in terms of the frozen norway lobsters exports, with a CAGR of +3.9% from 2012 to 2022. The Netherlands (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) also remains the largest frozen norway lobster supplier in Benelux.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands stood at +3.8%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, with an increase of 4.1% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2012 to 2022, the rate of growth in terms of prices for the Netherlands amounted to -0.1% per year.

Frozen Norway Lobster Imports

Imports in Benelux

Frozen norway lobster imports dropped to X tons in 2022, which is down by -13.6% against 2021. Over the period under review, imports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 77% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, frozen norway lobster imports fell remarkably to $X in 2022. Overall, imports saw a abrupt descent. The growth pace was the most rapid in 2014 when imports increased by 57%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Netherlands represented the largest importer of frozen norway lobsters in Benelux, with the volume of imports recording X tons, which was near 75% of total imports in 2022. It was distantly followed by Belgium (X tons), constituting a 25% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen norway lobster imports into the Netherlands stood at -3.7%. Belgium (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Belgium increased by +4.1 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported frozen norway lobsters in Benelux, comprising 71% of total imports. The second position in the ranking was held by Belgium ($X), with a 28% share of total imports.

In the Netherlands, frozen norway lobster imports declined by an average annual rate of -7.0% over the period from 2012-2022.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, shrinking by -22.9% against the previous year. In general, the import price showed a perceptible descent. The growth pace was the most rapid in 2016 an increase of 11%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-1.7%).

Source: IndexBox Platform