Italy: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Italy

The Italian frozen cuttlefishes market surged to $X in 2021, jumping by 34% 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). Over the period under review, consumption, however, faced a significant contraction. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from Italy

After four years of decline, overseas shipments of frozen cuttlefishes increased by 8.4% to X tons in 2021. Over the period under review, exports, however, continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2013 with an increase of 9.6%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen cuttlefishes exports expanded sharply to $X in 2021. In general, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), Croatia (X tons) and Switzerland (X tons) were the main destinations of frozen cuttlefishes exports from Italy, with a combined 65% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of -3.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for frozen cuttlefishes exported from Italy were Germany ($X), Switzerland ($X) and Croatia ($X), with a combined 68% share of total exports.

Switzerland, with a CAGR of -0.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average frozen cuttlefishes export price stood at $X per ton in 2021, which is down by -2% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes export price increased by +54.3% against 2013 indices. The growth pace was the most rapid in 2016 an increase of 21% against the previous year. The export price peaked at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Romania ($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 Thailand (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Italy

In 2021, the amount of frozen cuttlefishes imported into Italy skyrocketed to X tons, rising by 27% on the previous year. Over the period under review, imports, however, saw a precipitous contraction. The growth pace was the most rapid in 2016 when imports increased by 45% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen cuttlefishes imports soared to $X in 2021. Overall, imports, however, recorded a sharp slump. The most prominent rate of growth was recorded in 2016 when imports increased by 49%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest frozen cuttlefishes supplier to Italy, accounting for a 79% share of total imports. Moreover, frozen cuttlefishes imports from Spain exceeded the figures recorded by the second-largest supplier, the UK (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled -16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-13.3% per year) and France (-25.4% per year).

In value terms, Spain ($X) constituted the largest supplier of frozen cuttlefishes to Italy, comprising 79% of total imports. The second position in the ranking was taken by the UK ($X), with a 6.2% share of total imports. It was followed by France, with a 5% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-11.9% per year) and France (-23.2% per year).

Import Prices by Country

The average frozen cuttlefishes import price stood at $X per ton in 2021, rising by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2020 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2017; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Tunisia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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