Croatia: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Croatia

The Croatian frozen fish fillet market skyrocketed to $X in 2022, increasing by 46% against the previous year. Overall, consumption saw resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Fish Fillet Production in Croatia

In value terms, frozen fish fillet production reduced remarkably to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 81%. Frozen fish fillet production peaked at $X in 2021, and then fell rapidly in the following year.

Frozen Fish Fillet Exports

Exports from Croatia

In 2022, exports of frozen fish fillet from Croatia declined to X tons, which is down by -11.5% compared with 2021. In general, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 70%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish fillet exports declined notably to $X in 2022. Over the period under review, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 85%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Slovenia (X tons), Serbia (X tons) and Montenegro (X tons) were the main destinations of frozen fish fillet exports from Croatia, together comprising 63% of total exports. Hungary, Bosnia and Herzegovina, Italy and Bulgaria lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +80.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Serbia ($X) and Montenegro ($X) constituted the largest markets for frozen fish fillet exported from Croatia worldwide, with a combined 63% share of total exports. Hungary, Bosnia and Herzegovina, Italy and Bulgaria lagged somewhat behind, together accounting for a further 23%.

In terms of the main countries of destination, Bulgaria, with a CAGR of +92.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, declining by -14.8% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet export price decreased by -22.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Croatia

In 2022, the amount of frozen fish fillet imported into Croatia surged to X tons, with an increase of 21% against the previous year. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.5% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen fish fillet imports soared to $X in 2022. Over the period under review, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of frozen fish fillet to Croatia, accounting for a 40% share of total imports. Moreover, frozen fish fillet imports from Argentina exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Argentina totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+25.0% per year) and the Netherlands (+116.2% per year).

In value terms, the largest frozen fish fillet suppliers to Croatia were Argentina ($X), Spain ($X) and the Netherlands ($X), together accounting for 66% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +113.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2022, picking up by 23% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet import price increased by +37.3% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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