Finland: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Finland

The Finnish fresh fish fillet market expanded sharply to $X in 2021, growing by 13% against the previous year. Overall, consumption, however, enjoyed a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Fresh Fish Fillet Production in Finland

In value terms, fresh fish fillet production reduced to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +97.7% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. Fresh fish fillet production peaked at $X in 2020, and then dropped in the following year.

Fresh Fish Fillet Exports

Exports from Finland

In 2021, overseas shipments of fresh or chilled fish fillets decreased by -71.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports showed a perceptible downturn. The growth pace was the most rapid in 2020 with an increase of 342% against the previous year. As a result, the exports reached the peak of X tons, and then fell notably in the following year.

In value terms, fresh fish fillet exports reduced notably to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 172% against the previous year. As a result, the exports reached the peak of $X, and then reduced sharply in the following year.

Exports by Country

Estonia (X tons), Sweden (X tons) and Denmark (X tons) were the main destinations of fresh fish fillet exports from Finland, together comprising 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of -1.5%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for fresh fish fillet exported from Finland were Sweden ($X), Estonia ($X) and Denmark ($X), together accounting for 100% of total exports.

In terms of the main countries of destination, Sweden, with a CAGR of +1.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price continues to indicate temperate growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Finland

After two years of growth, purchases abroad of fresh or chilled fish fillets decreased by -26% to X tons in 2021. In general, imports, however, showed a moderate increase. The growth pace was the most rapid in 2019 with an increase of 105% against the previous year. Imports peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, fresh fish fillet imports dropped to $X in 2021. Overall, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2016 when imports increased by 112%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of fresh fish fillet to Finland, with a 78% share of total imports. Moreover, fresh fish fillet imports from Sweden exceeded the figures recorded by the second-largest supplier, Norway (X tons), eightfold. Estonia (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden amounted to +28.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-14.8% per year) and Estonia (+1.9% per year).

In value terms, Sweden ($X) constituted the largest supplier of fresh or chilled fish fillets to Finland, comprising 77% of total imports. The second position in the ranking was taken by Norway ($X), with a 9% share of total imports. It was followed by Estonia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden totaled +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-11.7% per year) and Estonia (+3.1% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, picking up by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Iceland ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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