Europe: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in Europe

For the fifth year in a row, the Europe frozen cuttlefishes market recorded decline in sales value, which decreased by -13.5% to $X in 2021. In general, consumption saw a sharp setback. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Frozen Cuttlefishes Production in Europe

In value terms, frozen cuttlefishes production shrank notably to $X in 2021 estimated in export price. In general, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 with an increase of 420%. Over the period under review, production reached the maximum level at $X in 2020, and then shrank dramatically in the following year.

Frozen Cuttlefishes Exports

Exports in Europe

In 2021, overseas shipments of frozen cuttlefishes decreased by -9% to X tons, falling for the fifth year in a row after three years of growth. In general, exports recorded a sharp slump. The growth pace was the most rapid in 2014 with an increase of 2.8% 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 fell to $X in 2021. Overall, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 with an increase of 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 was the largest exporting country with an export of around X tons, which finished at 72% of total exports. It was distantly followed by Albania (X tons), committing a 10% share of total exports. The following exporters - Russia (X tons) and Italy (X tons) - each amounted to a 7.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to frozen cuttlefishes exports from Spain stood at -20.3%. At the same time, Albania (+7.1%) displayed positive paces of growth. Moreover, Albania emerged as the fastest-growing exporter exported in Europe, with a CAGR of +7.1% from 2012-2021. By contrast, Italy (-20.3%) and Russia (-25.1%) illustrated a downward trend over the same period. While the share of Spain (+14 p.p.) and Albania (+9.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest frozen cuttlefishes supplier in Europe, comprising 61% of total exports. The second position in the ranking was held by Albania ($X), with a 14% share of total exports. It was followed by Italy, with a 5.9% share.

In Spain, frozen cuttlefishes exports plunged by an average annual rate of -18.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Albania (+7.1% per year) and Italy (-16.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, with a decrease of -4.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2020 when the export price increased by 18%. As a result, the export price attained the peak level of $X per ton, and then fell modestly 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 Italy ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+13.2%), while the other leaders experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports in Europe

In 2021, frozen cuttlefishes imports in Europe dropped slightly to X tons, with a decrease of -1.6% on the previous year. Overall, imports faced a sharp downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 15% 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 soared to $X in 2021. Over the period under review, imports faced a precipitous shrinkage. The pace of growth was the most pronounced in 2016 when imports increased by 36%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) and Russia (X tons) were the major importers of frozen cuttlefishes in Europe, together comprising 50% of total imports. France (X tons) took the next position in the ranking, followed by Spain (X tons). All these countries together took near 22% share of total imports. Portugal (X tons), Greece (X tons), Bosnia and Herzegovina (X tons), Iceland (X tons), the Netherlands (X tons) and Croatia (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +9.7%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Italy ($X), Russia ($X) and France ($X) were the countries with the highest levels of imports in 2021, with a combined 64% share of total imports. These countries were followed by Spain, the Netherlands, Greece, Portugal, Croatia, Bosnia and Herzegovina and Iceland, which together accounted for a further 23%.

Among the main importing countries, Bosnia and Herzegovina, with a CAGR of +5.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform