Finland: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Finland

The Finnish frozen crustaceans market rose significantly to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a relatively flat trend pattern. Frozen crustaceans consumption peaked in 2022 and is likely to see gradual growth in years to come.

Frozen Crustaceans Exports

Exports from Finland

After two years of growth, shipments abroad of frozen crustaceans decreased by X% to X tons in 2022. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced dramatically in the following year.

In value terms, frozen crustaceans exports contracted significantly to $X in 2022. In general, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X tons) was the main destination for frozen crustaceans exports from Finland, with a X% share of total exports. It was followed by Sweden (X kg), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Estonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Norway (X% per year).

In value terms, Estonia ($X) remains the key foreign market for frozen crustaceans exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Norway ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (X% per year) and Sweden (X% per year).

Export Prices by Country

In 2022, the average frozen crustaceans export price amounted to $X per ton, with an increase of X% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports into Finland

In 2022, overseas purchases of frozen crustaceans increased by X% to X tons, rising for the sixth consecutive year after four years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, frozen crustaceans imports expanded significantly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Denmark (X tons), Vietnam (X tons) and Sweden (X tons) were the main suppliers of frozen crustaceans imports to Finland, with a combined X% share of total imports. The Netherlands, Spain, Norway, Belgium, Bangladesh, Greenland and Estonia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest frozen crustaceans suppliers to Finland were Vietnam ($X), Denmark ($X) and Sweden ($X), together accounting for X% of total imports. The Netherlands, Spain, Norway, Belgium, Bangladesh, Greenland and Estonia lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen crustaceans import price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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