EU: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in the EU

The EU frozen whole fish market expanded sharply to $X in 2021, increasing by 14% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the near future.

Frozen Whole Fish Production in the EU

In value terms, frozen whole fish production fell markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 21%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Frozen Whole Fish Exports

Exports in the EU

In 2021, approx. X tons of frozen whole fish were exported in the European Union; shrinking by -5.8% compared with the previous year. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 12% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen whole fish exports stood at $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 7.6%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, the Netherlands (X tons), distantly followed by Spain (X tons), Ireland (X tons), Germany (X tons), Denmark (X tons) and Portugal (X tons) represented the main exporters of frozen whole fish, together making up 83% of total exports. Estonia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Denmark (with a CAGR of +8.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Denmark ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 68% of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of +7.1%, saw 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 2021, increasing by 8.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

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 Denmark ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+0.4%), while the other leaders experienced a decline in the export price figures.

Frozen Whole Fish Imports

Imports in the EU

In 2021, supplies from abroad of frozen whole fish increased by 0.5% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 11% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, frozen whole fish imports reached $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 13%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons) and Spain (X tons) represented roughly 46% of total imports in 2021. Portugal (X tons) held the next position in the ranking, followed by Poland (X tons), Denmark (X tons) and Italy (X tons). All these countries together held near 27% share of total imports. France (X tons), Latvia (X tons), Lithuania (X tons), Malta (X tons), Germany (X tons), Romania (X tons) and Sweden (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malta (with a CAGR of +16.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in the European Union were Spain ($X), the Netherlands ($X) and Denmark ($X), together accounting for 45% of total imports. These countries were followed by Portugal, Poland, Italy, France, Germany, Lithuania, Sweden, Romania, Latvia and Malta, which together accounted for a further 49%.

Malta, with a CAGR of +15.9%, 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

In 2021, the import price in the European Union amounted to $X per ton, rising by 4.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 6.7% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Malta ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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