Lithuania: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Lithuania

The Lithuanian market for fish fillets and other fish meat soared to $X in 2022, increasing by 15% against the previous year. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked in 2022 and is likely to see steady growth in the near future.

Production of Fish Fillets and Other Fish Meat in Lithuania

In value terms, production of fish fillets and other fish meat soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 54%. Production of peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Fish Fillets and Other Fish Meat

Exports from Lithuania

In 2022, overseas shipments of fish fillets and other fish meat decreased by -6% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 48%. Over the period under review, the exports of reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, exports of fish fillets and other fish meat rose sharply to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +121.5% against 2012 indices. The pace of growth was the most pronounced in 2014 with an increase of 44%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for exports of fish fillets and other fish meat from Lithuania, with a 30% share of total exports. Moreover, exports of fish fillets and other fish meat to Germany exceeded the volume sent to the second major destination, Denmark (X tons), threefold. Latvia (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+15.6% per year) and Latvia (+5.6% per year).

In value terms, Germany ($X) remains the key foreign market for fish fillets and other fish meat exports from Lithuania, comprising 37% of total exports. The second position in the ranking was held by Denmark ($X), with an 11% share of total exports. It was followed by Poland, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+17.8% per year) and Poland (+0.9% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, the export price attained 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 Belgium ($X per ton), while the average price for exports to Ukraine ($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 Latvia (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Lithuania

In 2022, overseas purchases of fish fillets and other fish meat decreased by -4% to X tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 16% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of fish fillets and other fish meat rose sharply to $X in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 24%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest fish fillets and other fish meat supplier to Lithuania, with a 30% share of total imports. Moreover, imports of fish fillets and other fish meat from the United States exceeded the figures recorded by the second-largest supplier, Norway (X tons), twofold. Sweden (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+0.8% per year) and Sweden (+80.2% per year).

In value terms, the United States ($X) constituted the largest supplier of fish fillets and other fish meat to Lithuania, comprising 29% of total imports. The second position in the ranking was held by Latvia ($X), with a 12% share of total imports. It was followed by Kazakhstan, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+18.5% per year) and Kazakhstan (-5.9% per year).

Import Prices by Country

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Latvia ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform