Italy: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Italy

In 2022, the Italian inedible fish products market increased by 675% to $X for the first time since 2015, thus ending a six-year declining trend. Over the period under review, consumption, however, saw a deep downturn. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Italy

In value terms, inedible fish products production surged to $X in 2022 estimated in export price. In general, production, however, saw a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 83% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Inedible Fish Products Exports

Exports from Italy

Inedible fish products exports from Italy surged to X tons in 2022, increasing by 53% against 2021 figures. In general, exports showed a prominent expansion. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports soared to $X in 2022. Over the period under review, exports showed resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by 65% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Hungary (X tons), France (X tons) and Germany (X tons) were the main destinations of inedible fish products exports from Italy, together comprising 46% of total exports. The Netherlands, Austria, Nigeria, Lithuania, Uganda, Spain, Greece, the Czech Republic, Bulgaria and Denmark lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +82.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for inedible fish products exported from Italy were Hungary ($X), France ($X) and Germany ($X), together accounting for 43% of total exports. Nigeria, Austria, the Netherlands, the Czech Republic, Bulgaria, Uganda, Lithuania, Spain, Greece and Denmark lagged somewhat behind, together comprising a further 51%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +81.8%, 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 inedible fish products export price stood at $X per ton in 2022, falling by -4.9% against the previous year. Over the period under review, the export price, however, showed a pronounced expansion. The pace of growth was the most pronounced in 2021 an increase of 76% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell modestly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Denmark ($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 Hungary (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Italy

In 2022, supplies from abroad of inedible fish products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 38% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, inedible fish products imports surged to $X in 2022. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 38%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of inedible fish products to Italy, with a 75% share of total imports. Moreover, inedible fish products imports from Vietnam exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), tenfold. Spain (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+20.4% per year) and Spain (-5.1% per year).

In value terms, Vietnam ($X) constituted the largest supplier of inedible fish products to Italy, comprising 52% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 6.2% share of total imports. It was followed by China, with a 6% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+17.1% per year) and China (+18.0% per year).

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, with an increase of 2.3% against the previous year. Over the period under review, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 80%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+39.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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