Lithuania: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Lithuania

The Lithuanian frozen fish fillet market surged to $X in 2022, increasing by 19% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen fish fillet consumption peaked in 2022 and is expected to retain growth in the near future.

Frozen Fish Fillet Production in Lithuania

In value terms, frozen fish fillet production surged to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 57% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Frozen Fish Fillet Exports

Exports from Lithuania

Frozen fish fillet exports from Lithuania rose modestly to X tons in 2022, picking up by 3.8% compared with 2021. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -2.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 32%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, frozen fish fillet exports soared to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +106.2% against 2013 indices. The pace of growth was the most pronounced in 2014 when exports increased by 43% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for frozen fish fillet exports from Lithuania, accounting for a 38% share of total exports. Moreover, frozen fish fillet exports to Germany exceeded the volume sent to the second major destination, Denmark (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+15.8% per year) and Poland (+0.9% per year).

In value terms, Germany ($X) remains the key foreign market for frozen fish fillet exports from Lithuania, comprising 42% of total exports. The second position in the ranking was taken by Denmark ($X), with a 14% share of total exports. It was followed by Poland, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+18.0% per year) and Poland (+0.6% per year).

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. 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 Norway ($X per ton), while the average price for exports to Latvia ($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 Estonia (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Lithuania

In 2022, approx. X tons of frozen fish fillet were imported into Lithuania; rising by 17% compared with 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish fillet imports soared to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 38%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Norway (X tons), Sweden (X tons) and Latvia (X tons) were the main suppliers of frozen fish fillet imports to Lithuania, together comprising 50% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +73.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Russia ($X) and Sweden ($X) were the largest frozen fish fillet suppliers to Lithuania, together comprising 46% of total imports.

Among the main suppliers, Sweden, with a CAGR of +62.5%, 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

The average frozen fish fillet import price stood at $X per ton in 2022, rising by 9.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 26%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform