Croatia: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Croatia

After four years of decline, the Croatian frozen cuttlefishes market increased by 708% to $X in 2021. In general, consumption, however, saw a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Production in Croatia

In value terms, frozen cuttlefishes production totaled $X in 2021 estimated in export price. In general, production recorded a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 5% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Frozen Cuttlefishes Exports

Exports from Croatia

In 2021, the amount of frozen cuttlefishes exported from Croatia soared to X tons, increasing by 30% on the previous year. Overall, exports, however, recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 62% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports skyrocketed to $X in 2021. In general, exports, however, recorded a sharp decrease. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons) was the main destination for frozen cuttlefishes exports from Croatia, with a 78% share of total exports. Moreover, frozen cuttlefishes exports to Italy exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), tenfold. The third position in this ranking was held by Serbia (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-31.9% per year) and Serbia (-39.7% per year).

In value terms, Italy ($X) remains the key foreign market for frozen cuttlefishes exports from Croatia, comprising 87% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 4.3% share of total exports. It was followed by Montenegro, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-27.5% per year) and Montenegro (-33.2% per year).

Export Prices by Country

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% 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 +70.0% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 49% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Serbia ($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 Bosnia and Herzegovina (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Croatia

After four years of decline, purchases abroad of frozen cuttlefishes increased by 60% to X tons in 2021. Over the period under review, imports, however, continue to indicate a precipitous slump. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports surged to $X in 2021. In general, imports, however, faced a dramatic setback. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest frozen cuttlefishes supplier to Croatia, accounting for a 76% share of total imports. Moreover, frozen cuttlefishes imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. The third position in this ranking was taken by Portugal (X tons), with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled -20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+24.6% per year) and Portugal (+29.1% per year).

In value terms, Spain ($X) constituted the largest supplier of frozen cuttlefishes to Croatia, comprising 77% of total imports. The second position in the ranking was held by the Netherlands ($X), with an 8.5% share of total imports. It was followed by Portugal, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled -16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+24.4% per year) and Portugal (+31.7% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, with an increase of 21% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.3% 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 +17.9% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from Slovenia ($X per ton) and Spain ($X per ton), while the price for the Netherlands ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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