Ireland: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Ireland

In 2022, the Irish frozen norway lobster market decreased by -82.7% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, recorded a buoyant increase. As a result, consumption reached the peak level of $X, and then contracted markedly in the following year.

Frozen Norway Lobster Production in Ireland

In value terms, frozen norway lobster production contracted to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports from Ireland

In 2022, shipments abroad of frozen norway lobsters decreased by 0% to X tons, falling for the third consecutive year after two years of growth. Overall, exports posted a slight increase. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, frozen norway lobster exports stood at $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 42% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons) was the main destination for frozen norway lobster exports from Ireland, accounting for a 61% share of total exports. Moreover, frozen norway lobster exports to Italy exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by France (X tons), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+1.3% per year) and France (+2.7% per year).

It was followed by France, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+3.4% per year) and France (+3.2% per year).

Export Prices by Country

The average frozen norway lobster export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price saw tangible growth. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the UK ($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 Italy (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into Ireland

In 2022, approx. X tons of frozen norway lobsters were imported into Ireland; approximately mirroring the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 111%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen norway lobster imports amounted to $X in 2022. Overall, imports continue to indicate a slight increase. The pace of growth appeared the most rapid in 2014 with an increase of 82%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest frozen norway lobster supplier to Ireland, accounting for a 84% share of total imports. Moreover, frozen norway lobster imports from the UK exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+28.2% per year) and Italy (-7.6% per year).

In value terms, the UK ($X) constituted the largest supplier of frozen norway lobsters to Ireland, comprising 80% of total imports. The second position in the ranking was taken by Spain ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+37.5% per year) and Italy (+0.3% 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. Over the period under review, the import price enjoyed a modest expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 16%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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