Luxembourg: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Luxembourg

After two years of growth, the Luxembourg market for fish fillets and other fish meat decreased by -1.9% to $X in 2022. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the market value increased by 9.4%. Over the period under review, the market reached the maximum level at $X in 2021, and then shrank slightly in the following year.

Exports of Fish Fillets and Other Fish Meat

Exports from Luxembourg

Exports of fish fillets and other fish meat from Luxembourg rose markedly to X tons in 2022, increasing by 13% against 2021 figures. In general, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% 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 +18.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 31% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of fish fillets and other fish meat soared to $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +37.7% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 44%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main destinations of exports of fish fillets and other fish meat from Luxembourg, with a combined 95% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +5.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for fish fillets and other fish meat exported from Luxembourg were Germany ($X), France ($X) and Belgium ($X), with a combined 95% share of total exports.

France, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, picking up by 6.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2016 an increase of 15% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Azerbaijan ($X per ton) and France ($X per ton), while the average price for exports to Germany ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Luxembourg

In 2022, the amount of fish fillets and other fish meat imported into Luxembourg fell modestly to X tons, declining by -3% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 9.4%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fish fillets and other fish meat declined to $X in 2022. The total import value increased at an average annual rate of +3.9% 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 when imports increased by 14% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Norway (X tons), Belgium (X tons) and France (X tons) were the main suppliers of imports of fish fillets and other fish meat to Luxembourg, with a combined 63% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fillets and other fish meat suppliers to Luxembourg were Norway ($X), France ($X) and Belgium ($X), with a combined 66% share of total imports.

Norway, with a CAGR of +17.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, with an increase of 3% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The growth pace was the most rapid in 2013 when the average import price increased by 20% against the previous year. The import price peaked in 2022 and is expected to retain 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 Iceland ($X per ton), while the price for Vietnam ($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 (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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