Eastern Europe: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Eastern Europe

For the third year in a row, the East European fish meals and pellet market recorded growth in sales value, which increased by 94% to $X in 2021. Overall, consumption enjoyed a significant expansion. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Flours, Meals And Pellets Of Fish in Eastern Europe

In value terms, fish meals and pellet production surged to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2015 when the production volume increased by 117% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish

Exports in Eastern Europe

In 2021, after two years of decline, there was significant growth in shipments abroad of flours, meals and pellets of fish, when their volume increased by 42% to X tons. Over the period under review, exports, however, showed a mild reduction. The pace of growth appeared the most rapid in 2013 when exports increased by 108% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, fish meals and pellet exports surged to $X in 2021. In general, exports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 63% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Latvia (X tons) was the major exporter of flours, meals and pellets of fish, generating 58% of total exports. Belarus (X tons) took the second position in the ranking, distantly followed by Poland (X tons) and Russia (X tons). All these countries together took near 40% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet exports from Latvia stood at -1.4%. At the same time, Belarus (+24.7%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +24.7% from 2012-2021. By contrast, Poland (-6.6%) and Russia (-11.9%) illustrated a downward trend over the same period. Belarus (+19 p.p.) significantly strengthened its position in terms of the total exports, while Poland and Russia saw its share reduced by -5.7% and -14.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Latvia ($X), Belarus ($X) and Poland ($X) were the countries with the highest levels of exports in 2021, with a combined 64% share of total exports.

Belarus, with a CAGR of +32.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, declining by -17.2% against the previous year. Over the period under review, the export price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 104%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+6.5%), while the other leaders experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports in Eastern Europe

In 2021, the amount of flours, meals and pellets of fish imported in Eastern Europe contracted to X tons, reducing by -6.4% against 2020 figures. Over the period under review, imports, however, saw noticeable growth. The growth pace was the most rapid in 2014 when imports increased by 107% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, fish meals and pellet imports expanded sharply to $X in 2021. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 126%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) represented the main importer of flours, meals and pellets of fish, achieving 50% of total imports. Latvia (X tons) ranks second in terms of the total imports with a 16% share, followed by Belarus (8.9%) and Romania (7.1%). The following importers - Estonia (X tons), Bulgaria (X tons) and the Czech Republic (X tons) - together made up 12% of total imports.

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet imports into Russia stood at +10.5%. At the same time, Estonia (+22.2%), Romania (+7.1%) and Bulgaria (+7.0%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +22.2% from 2012-2021. Latvia experienced a relatively flat trend pattern. By contrast, the Czech Republic (-1.3%) and Belarus (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia and Estonia increased by +20 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported flours, meals and pellets of fish in Eastern Europe, comprising 59% of total imports. The second position in the ranking was taken by Belarus ($X), with a 16% share of total imports. It was followed by Estonia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to +13.8%. In the other countries, the average annual rates were as follows: Belarus (-0.2% per year) and Estonia (+23.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, growing by 19% against the previous year. In general, the import price continues to indicate a temperate increase. The growth pace was the most rapid in 2018 an increase of 61% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+23.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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