Luxembourg: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Luxembourg

In 2021, after two years of decline, there was significant growth in the Luxembourg fresh fish fillet market, when its value increased by 8.8% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Fresh fish fillet consumption peaked in 2021 and is expected to retain growth in years to come.

Fresh Fish Fillet Exports

Exports from Luxembourg

In 2021, overseas shipments of fresh or chilled fish fillets increased by 4.2% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total exports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -38.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 32% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, fresh fish fillet exports reached $X in 2021. Overall, exports continue to indicate a measured increase. The growth pace was the most rapid in 2018 when exports increased by 46%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), Belgium (X tons) and France (X tons) were the main destinations of fresh fish fillet exports from Luxembourg, with a combined 93% share of total exports. Azerbaijan lagged somewhat behind, comprising a further 7.1%.

From 2012 to 2021, the biggest increases were recorded for Azerbaijan (with a CAGR of +6.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) were the largest markets for fresh fish fillet exported from Luxembourg worldwide, together comprising 93% of total exports. Azerbaijan lagged somewhat behind, accounting for a further 6.7%.

Azerbaijan, with a CAGR of +6.6%, saw the highest growth rate of 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 2021, the average fresh fish fillet export price amounted to $X per ton, increasing by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and Belgium ($X per ton), while the average price for exports to Germany ($X per ton) and Azerbaijan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into Luxembourg

After two years of decline, overseas purchases of fresh or chilled fish fillets increased by 3.1% to X tons in 2021. Overall, imports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, fresh fish fillet imports rose notably to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; 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 16%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and France (X tons) were the main suppliers of fresh fish fillet imports to Luxembourg, with a combined 95% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +13.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Belgium ($X) and France ($X) appeared to be the largest fresh fish fillet suppliers to Luxembourg, with a combined 95% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +19.4%, saw the highest growth rate of 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 2021, the average fresh fish fillet import price amounted to $X per ton, increasing by 7.5% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet import price increased by +59.7% against 2015 indices. The pace of growth was the most pronounced in 2013 an increase of 22% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and the Netherlands ($X per ton), while the price for Germany ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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