Greece: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Greece

For the fourth consecutive year, the Greek fresh fish fillet market recorded growth in sales value, which increased by 29% to $X in 2021. In general, consumption showed a remarkable increase. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the immediate term.

Fresh Fish Fillet Production in Greece

In value terms, fresh fish fillet production dropped to $X in 2021 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 +31.0% against 2014 indices. The pace of growth was the most pronounced in 2014 with an increase of 35% against the previous year. Fresh fish fillet production peaked at $X in 2020, and then shrank modestly in the following year.

Fresh Fish Fillet Exports

Exports from Greece

In 2021, overseas shipments of fresh or chilled fish fillets were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 109% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, fresh fish fillet exports skyrocketed to $X in 2021. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 217%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Poland (X tons) and Switzerland (X tons) were the main destinations of fresh fish fillet exports from Greece, together accounting for 53% of total exports. These countries were followed by Germany, the Netherlands, Spain, Cyprus, Bulgaria and North Macedonia, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +110.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Poland ($X) and Germany ($X) constituted the largest markets for fresh fish fillet exported from Greece worldwide, with a combined 52% share of total exports. Italy, the Netherlands, Spain, Cyprus, North Macedonia and Bulgaria lagged somewhat behind, together accounting for a further 33%.

Spain, with a CAGR of +90.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fresh fish fillet export price stood at $X per ton in 2021, with an increase of 5.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 51% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Bulgaria ($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 Cyprus (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Greece

In 2021, imports of fresh or chilled fish fillets into Greece surged to X tons, growing by 36% against the year before. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 64%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fresh fish fillet imports surged to $X in 2021. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest fresh fish fillet supplier to Greece, accounting for a 74% share of total imports. Moreover, fresh fish fillet imports from Turkey exceeded the figures recorded by the second-largest supplier, Cyprus (X tons), more than tenfold. The third position in this ranking was held by Denmark (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +125.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Cyprus (+8.2% per year) and Denmark (+9.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of fresh or chilled fish fillets to Greece, comprising 84% of total imports. The second position in the ranking was held by Denmark ($X), with a 4.8% share of total imports. It was followed by Spain, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +116.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+11.8% per year) and Spain (+10.4% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, increasing by 12% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet import price increased by +24.5% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Turkey ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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