Italy: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Italy

In 2022, the Italian frozen norway lobster market increased by 32% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +113.2% against 2020 indices. Frozen norway lobster consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Frozen Norway Lobster Exports

Exports from Italy

In 2022, approx. X tons of frozen norway lobsters were exported from Italy; waning by -21.1% against the previous year. Overall, exports recorded a perceptible curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 110%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports declined to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 149% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Albania (X tons), Croatia (X tons) and Slovenia (X tons) were the main destinations of frozen norway lobster exports from Italy, together accounting for 62% of total exports. France, Malta, Spain, Denmark, Austria, Romania, Germany and the Netherlands lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +111.5%), while the other leaders experienced more modest paces of growth.

In value terms, Albania ($X), Croatia ($X) and Slovenia ($X) constituted the largest markets for frozen norway lobster exported from Italy worldwide, with a combined 60% share of total exports. France, Spain, Malta, Austria, Denmark, Romania, Germany and the Netherlands lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Denmark, with a CAGR of +122.8%, 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 frozen norway lobster export price stood at $X per ton in 2022, with an increase of 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Germany ($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 Denmark (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into Italy

Frozen norway lobster imports into Italy stood at X tons in 2022, surging by 4.9% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 55%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, frozen norway lobster imports skyrocketed to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +113.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Ireland (X tons), Denmark (X tons) and France (X tons) were the main suppliers of frozen norway lobster imports to Italy, together accounting for 80% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +51.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Denmark ($X) and France ($X) were the largest frozen norway lobster suppliers to Italy, together accounting for 81% of total imports.

In terms of the main suppliers, France, with a CAGR of +39.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, picking up by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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