Greece: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Greece

In 2022, the Greek frozen norway lobster market increased by 74% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption enjoyed a pronounced expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Frozen Norway Lobster Production in Greece

In value terms, frozen norway lobster production fell modestly to $X in 2022 estimated in export price. In general, production posted a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 151%. Frozen norway lobster production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports from Greece

In 2022, shipments abroad of frozen norway lobsters increased by 87% to X tons, rising for the second year in a row after two years of decline. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 7,152%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, frozen norway lobster exports soared to $X in 2022. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 7,033% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Germany (X tons), Albania (X tons) and Austria (X tons) were the main destinations of frozen norway lobster exports from Greece, with a combined 62% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +18,471.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen norway lobster exported from Greece were Albania ($X), Bulgaria ($X) and Germany ($X), with a combined 58% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +6,191.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen norway lobster export price stood at $X per ton in 2022, declining by -16.3% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 79% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Austria ($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 Albania (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into Greece

In 2022, approx. X tons of frozen norway lobsters were imported into Greece; jumping by 96% compared with the year before. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 219%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, frozen norway lobster imports skyrocketed to $X in 2022. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 206%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Denmark (X tons) constituted the largest frozen norway lobster supplier to Greece, with a 46% share of total imports. Moreover, frozen norway lobster imports from Denmark exceeded the figures recorded by the second-largest supplier, Portugal (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (0.0% per year) and the Netherlands (+4.7% per year).

In value terms, Denmark ($X) constituted the largest supplier of frozen norway lobsters to Greece, comprising 61% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total imports. It was followed by Spain, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.9% per year) and Spain (+7.5% per year).

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the import price, however, showed a pronounced decline. The growth pace was the most rapid in 2014 an increase of 8.2%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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