Lithuania: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Lithuania

For the third year in a row, the Lithuanian frozen fish and seafood market recorded growth in sales value, which increased by X% to $X in 2022. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Frozen Fish And Seafood in Lithuania

In value terms, frozen fish and seafood production surged to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Frozen fish and seafood production peaked in 2022 and is likely to continue growth in years to come.

Exports of Frozen Fish And Seafood

Exports from Lithuania

In 2022, approx. X tons of frozen fish and seafood were exported from Lithuania; rising by X% against the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports rose sharply to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X tons), Latvia (X tons) and Ukraine (X tons) were the main destinations of frozen fish and seafood exports from Lithuania, together accounting for X% of total exports. Denmark, Belarus, Poland, Estonia, Norway, France, the Netherlands, Moldova, Sweden and Vietnam lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X) remains the key foreign market for frozen fish and seafood exports from Lithuania, comprising X% of total exports. The second position in the ranking was taken by Denmark ($X), with an X% share of total exports. It was followed by Poland, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Poland (X% per year).

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

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

Imports of Frozen Fish And Seafood

Imports into Lithuania

In 2022, the amount of frozen fish and seafood imported into Lithuania stood at X tons, growing by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports soared to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Norway (X tons), the United States (X tons) and Sweden (X tons) were the main suppliers of frozen fish and seafood imports to Lithuania, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and Norway ($X) appeared to be the largest frozen fish and seafood suppliers to Lithuania, with a combined X% share of total imports. Sweden, Spain, the Netherlands, Latvia, Denmark, India, Poland, Germany, Vietnam and Estonia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Sweden, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average frozen fish and seafood import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform