Croatia: Frozen Lobster Market 2024

Frozen Lobster Market Size in Croatia

In 2022, the Croatian frozen lobster market decreased by -93.9% to $X, falling for the third consecutive year after six years of growth. Over the period under review, consumption recorded a sharp slump. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Frozen Lobster Production in Croatia

In value terms, frozen lobster production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 16%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Frozen Lobster Exports

Exports from Croatia

In 2022, frozen lobster exports from Croatia soared to X tons, with an increase of 35% against the previous year. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 2,283% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, frozen lobster exports surged to $X in 2022. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 2,592%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Montenegro (X tons) was the main destination for frozen lobster exports from Croatia, accounting for a 94% share of total exports. It was followed by Serbia (X kg), with a 2.8% share of total exports. The third position in this ranking was taken by Bosnia and Herzegovina (X kg), with a 1.6% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Montenegro stood at +91.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+74.4% per year) and Bosnia and Herzegovina (+34.9% per year).

In value terms, Montenegro ($X) remains the key foreign market for frozen lobster exports from Croatia, comprising 93% of total exports. The second position in the ranking was taken by Serbia ($X), with a 3.8% share of total exports. It was followed by Bosnia and Herzegovina, with a 1.7% share.

From 2013 to 2022, the average annual growth rate of value to Montenegro totaled +98.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+97.4% per year) and Bosnia and Herzegovina (+37.9% per year).

Export Prices by Country

In 2022, the average frozen lobster export price amounted to $X per ton, waning by -10.1% against the previous year. In general, export price indicated a slight expansion from 2013 to 2022: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster export price increased by +45.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Croatia

In 2022, approx. X tons of frozen lobster were imported into Croatia; reducing by -7.3% compared with the year before. In general, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,222% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, frozen lobster imports soared to $X in 2022. Overall, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by 915%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of frozen lobster to Croatia, with a 48% share of total imports. Moreover, frozen lobster imports from Italy exceeded the figures recorded by the second-largest supplier, the Netherlands (X kg), threefold. Germany (X kg) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+44.3% per year) and Germany (-4.9% per year).

In value terms, the largest frozen lobster suppliers to Croatia were Italy ($X), France ($X) and Germany ($X), together comprising 88% of total imports.

Italy, with a CAGR of +46.0%, 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

In 2022, the average frozen lobster import price amounted to $X per ton, jumping by 26% against the previous year. Over the period under review, the import price saw a strong increase. The growth pace was the most rapid in 2016 an increase of 35% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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