Denmark: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Denmark

In 2021, the Danish frozen cuttlefishes market increased by 8.4% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a resilient expansion. Frozen cuttlefishes consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Production in Denmark

In value terms, frozen cuttlefishes production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from Denmark

In 2021, approx. X tons of frozen cuttlefishes were exported from Denmark; growing by 96% compared with 2020. Overall, exports, however, recorded a precipitous contraction. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports surged to $X in 2021. In general, exports, however, faced a precipitous curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X tons) was the main destination for frozen cuttlefishes exports from Denmark, with a 61% share of total exports. Moreover, frozen cuttlefishes exports to Norway exceeded the volume sent to the second major destination, Sweden (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Norway stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-22.4% per year) and Italy (-44.4% per year).

In value terms, the largest markets for frozen cuttlefishes exported from Denmark were Sweden ($X), Norway ($X) and Italy ($X), together comprising 95% of total exports.

Among the main countries of destination, Norway, with a CAGR of -10.2%, recorded the highest growth rate of the value of exports, 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, rising by 7.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 24%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to Norway ($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 Italy (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Denmark

In 2021, supplies from abroad of frozen cuttlefishes was finally on the rise to reach X tons after two years of decline. Overall, imports, however, showed a dramatic descent. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes imports surged to $X in 2021. Over the period under review, imports, however, faced a sharp curtailment. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest frozen cuttlefishes supplier to Denmark, with a 54% share of total imports. Moreover, frozen cuttlefishes imports from India exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-16.7% per year) and Indonesia (+23.8% per year).

In value terms, India ($X) constituted the largest supplier of frozen cuttlefishes to Denmark, comprising 50% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 17% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from India totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-16.9% per year) and Indonesia (+57.4% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, picking up by 24% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average import price increased by 35%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+27.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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