Luxembourg: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Luxembourg

After two years of growth, the Luxembourg preserved fish fillet market decreased by -7% to $X in 2021. Overall, consumption showed a slight decline. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Preserved Fish Fillet Production in Luxembourg

In value terms, preserved fish fillet production fell markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 53%. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

Preserved Fish Fillet Exports

Exports from Luxembourg

In 2021, overseas shipments of fish fillets (dried, salted or in brine, but not smoked) increased by 31% to X kg, rising for the second consecutive year after five years of decline. Over the period under review, exports recorded a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 305%. As a result, the exports reached the peak of X kg. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved fish fillet exports soared to $X in 2021. In general, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 268% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X kg) was the main destination for preserved fish fillet exports from Luxembourg, accounting for a 67% share of total exports. Moreover, preserved fish fillet exports to the UK exceeded the volume sent to the second major destination, France (X kg), fourfold. The third position in this ranking was taken by Belgium (X kg), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.3% per year) and Belgium (+7.0% per year).

In value terms, the UK ($X) emerged as the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Luxembourg, comprising 57% of total exports. The second position in the ranking was taken by France ($X), with a 20% share of total exports. It was followed by Belgium, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+7.6% per year) and Belgium (+17.6% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, declining by -5.6% against the previous year. Over the period under review, the export price, however, saw a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 55% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Belgium ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Fish Fillet Imports

Imports into Luxembourg

In 2021, purchases abroad of fish fillets (dried, salted or in brine, but not smoked) was finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of 59%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved fish fillet imports dropped to $X in 2021. Overall, imports, however, continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest preserved fish fillet supplier to Luxembourg, accounting for a 73% share of total imports. Moreover, preserved fish fillet imports from Belgium exceeded the figures recorded by the second-largest supplier, Portugal (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+28.0% per year) and France (-28.8% per year).

In value terms, Belgium ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Luxembourg, comprising 69% of total imports. The second position in the ranking was taken by Portugal ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+36.0% per year) and France (-15.4% per year).

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, with a decrease of -4.4% against the previous year. Overall, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average import price increased by 40% against the previous year. The import price peaked at $X per ton in 2020, and then fell in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+32.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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