EU: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in the EU

The EU frozen cuttlefishes market shrank markedly to $X in 2021, with a decrease of -19.4% against the previous year. Overall, consumption showed a dramatic contraction. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Frozen Cuttlefishes Production in the EU

In value terms, frozen cuttlefishes production shrank notably to $X in 2021 estimated in export price. Overall, production, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 382% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined notably in the following year.

Frozen Cuttlefishes Exports

Exports in the EU

In 2021, shipments abroad of frozen cuttlefishes decreased by -8.4% to X tons, falling for the sixth year in a row after two years of growth. Overall, exports continue to indicate a sharp slump. The growth pace was the most rapid in 2014 with an increase of 5.6% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports dropped sharply to $X in 2021. In general, exports showed a precipitous setback. The growth pace was the most rapid in 2016 when exports increased by 16% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Spain dominates exports structure, amounting to X tons, which was near 86% of total exports in 2021. Italy (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

Spain was also the fastest-growing in terms of the frozen cuttlefishes exports, with a CAGR of -20.3% from 2012 to 2021. Italy (-20.3%) and the Netherlands (-30.3%) illustrated a downward trend over the same period. Spain (+22 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -2.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest frozen cuttlefishes supplier in the European Union, comprising 76% of total exports. The second position in the ranking was taken by Italy ($X), with a 7.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Spain stood at -18.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-16.6% per year) and the Netherlands (-23.4% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, falling by -7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 when the export price increased by 21%. The level of export peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.0%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in the EU

In 2021, after four years of decline, there was growth in purchases abroad of frozen cuttlefishes, when their volume increased by 2.9% to X tons. In general, imports, however, saw a significant contraction. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen cuttlefishes imports surged to $X in 2021. Overall, imports, however, recorded a sharp setback. The most prominent rate of growth was recorded in 2016 when imports increased by 37%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Italy was the key importer of frozen cuttlefishes in the European Union, with the volume of imports amounting to X tons, which was near 42% of total imports in 2021. It was distantly followed by France (X tons), Spain (X tons), Portugal (X tons) and Greece (X tons), together making up a 41% share of total imports. The following importers - the Netherlands (X tons) and Croatia (X tons) - each reached a 6.5% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to frozen cuttlefishes imports into Italy stood at -26.7%. France (-17.2%), the Netherlands (-24.7%), Croatia (-27.1%), Greece (-29.1%), Portugal (-30.9%) and Spain (-38.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Italy, France and the Netherlands increased by +13, +13 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported frozen cuttlefishes in the European Union, comprising 41% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports. It was followed by Spain, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Italy stood at -25.7%. In the other countries, the average annual rates were as follows: France (-14.8% per year) and Spain (-35.6% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, increasing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2016 when the import price increased by 18%. Over the period under review, import prices hit record highs in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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