EU: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in the EU

The EU frozen norway lobster market reduced to $X in 2022, falling by -7.9% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell in the following year.

Frozen Norway Lobster Production in the EU

In value terms, frozen norway lobster production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports in the EU

Frozen norway lobster exports surged to X tons in 2022, growing by 47% on 2021 figures. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +58.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen norway lobster exports soared to $X in 2022. Overall, exports showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, France (X tons), Ireland (X tons), Denmark (X tons) and the Netherlands (X tons) represented the main exporter of frozen norway lobsters in the European Union, generating 92% of total export. It was distantly followed by Spain (X tons), generating a 5.3% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by France (with a CAGR of +66.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen norway lobster supplying countries in the European Union were France ($X), Ireland ($X) and Denmark ($X), together accounting for 76% of total exports.

France, with a CAGR of +61.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 14% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Frozen Norway Lobster Imports

Imports in the EU

Frozen norway lobster imports rose modestly to X tons in 2022, increasing by 3.3% on the previous year. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 59%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, frozen norway lobster imports surged to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +102.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 67% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Italy (X tons) and France (X tons) represented the largest importers of frozen norway lobsters in 2022, finishing at near 43% and 31% of total imports, respectively. It was distantly followed by Spain (X tons), committing a 14% share of total imports. The following importers - the Netherlands (X tons), Croatia (X tons) and Ireland (X tons) - together made up 7% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Spain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 90% share of total imports.

Among the main importing countries, France, with a CAGR of +10.5%, 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

The import price in the European Union stood at $X per ton in 2022, growing by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Italy ($X per ton) and Spain ($X per ton), while the Netherlands ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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