EU: Frozen Lobster Market 2024

Frozen Lobster Market Size in the EU

The EU frozen lobster market soared to $X in 2022, picking up by 34% against the previous year. Overall, consumption recorded a buoyant expansion. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Lobster Production in the EU

In value terms, frozen lobster production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Frozen Lobster Exports

Exports in the EU

In 2022, frozen lobster exports in the European Union declined to X tons, dropping by -8% against the year before. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.0% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of 46% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, frozen lobster exports reached $X in 2022. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 78% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, France (X tons), the Netherlands (X tons), Denmark (X tons), Spain (X tons), Belgium (X tons) and Germany (X tons) was the key exporter of frozen lobster in the European Union, making up 93% of total export. Ireland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +20.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen lobster supplying countries in the European Union were France ($X), the Netherlands ($X) and Denmark ($X), with a combined 66% share of total exports. Belgium, Spain, Germany and Ireland lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, Spain, with a CAGR of +27.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, picking up by 13% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster export price increased by +38.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 22% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Spain ($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 Netherlands (+9.6%), while the other leaders experienced more modest paces of growth.

Frozen Lobster Imports

Imports in the EU

In 2022, the amount of frozen lobster imported in the European Union soared to X tons, with an increase of 16% against 2021. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 19%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, frozen lobster imports soared to $X in 2022. In general, imports recorded strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 50%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Spain (X tons) and France (X tons) represented roughly 49% of total imports in 2022. Italy (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Denmark (10%), the Netherlands (8.5%), Belgium (5.6%) and Sweden (5.5%).

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +25.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and Denmark ($X) constituted the countries with the highest levels of imports in 2022, with a combined 58% share of total imports.

Among the main importing countries, Denmark, with a CAGR of +28.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, surging by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2021 when the import price increased by 26%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while Sweden ($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 Netherlands (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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