Eastern Europe: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Eastern Europe

The East European frozen whole fish market soared to $X in 2021, surging by 16% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Frozen Whole Fish Production in Eastern Europe

In value terms, frozen whole fish production amounted to $X in 2021 estimated in export price. Overall, production recorded a mild reduction. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Frozen Whole Fish Exports

Exports in Eastern Europe

Frozen whole fish exports reduced to X tons in 2021, dropping by -14.8% on the year before. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 23% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, frozen whole fish exports expanded to $X in 2021. Over the period under review, exports saw a slight decrease. The most prominent rate of growth was recorded in 2017 with an increase of 40%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia dominates exports structure, recording X tons, which was approx. 89% of total exports in 2021. The following exporters - Estonia (X tons), Poland (X tons) and Latvia (X tons) - together made up 9.1% of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of frozen whole fish. At the same time, Poland (+9.9%) and Latvia (+2.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +9.9% from 2012-2021. By contrast, Estonia (-2.1%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest frozen whole fish supplier in Eastern Europe, comprising 92% of total exports. The second position in the ranking was held by Poland ($X), with a 2.7% share of total exports. It was followed by Estonia, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value in Russia amounted to -1.5%. In the other countries, the average annual rates were as follows: Poland (+14.9% per year) and Estonia (-3.8% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, rising by 20% against the previous year. Overall, the export price, however, showed a slight slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+4.6%), while the other leaders experienced a decline in the export price figures.

Frozen Whole Fish Imports

Imports in Eastern Europe

In 2021, approx. X tons of frozen whole fish were imported in Eastern Europe; with an increase of 5.9% compared with the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 15%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, frozen whole fish imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 31%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) and Ukraine (X tons) were the main importers of frozen whole fish in Eastern Europe, together constituting 58% of total imports. It was distantly followed by Poland (X tons), Belarus (X tons), Latvia (X tons) and Lithuania (X tons), together comprising a 32% share of total imports. Romania (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Latvia (with a CAGR of +11.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2021, with a combined 73% share of total imports. These countries were followed by Belarus, Lithuania, Romania and Latvia, which together accounted for a further 21%.

Latvia, with a CAGR of +8.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 7.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, 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 Russia (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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