Luxembourg: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Luxembourg

The Luxembourg frozen cuttlefishes market stood at $X in 2021, surging by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Frozen Cuttlefishes Exports

Exports from Luxembourg

In 2021, the amount of frozen cuttlefishes exported from Luxembourg dropped rapidly to X kg, which is down by -53.8% on the previous year's figure. Over the period under review, exports continue to indicate a precipitous descent. The pace of growth was the most pronounced in 2018 when exports increased by 1,006%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports reduced markedly to $X in 2021. In general, exports continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2018 when exports increased by 1,079% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X kg) was the main destination for frozen cuttlefishes exports from Luxembourg, with a 66% share of total exports. Moreover, frozen cuttlefishes exports to Belgium exceeded the volume sent to the second major destination, Azerbaijan (X kg), fourfold. France (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium stood at -28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (-17.1% per year) and France (-35.8% per year).

In value terms, Belgium ($X) remains the key foreign market for frozen cuttlefishes exports from Luxembourg, comprising 72% of total exports. The second position in the ranking was taken by France ($X), with a 15% share of total exports. It was followed by Azerbaijan, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Belgium totaled -26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-33.8% per year) and Azerbaijan (-20.4% per year).

Export Prices by Country

In 2021, the average frozen cuttlefishes export price amounted to $X per ton, picking up by 18% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes export price decreased by -11.8% against 2019 indices. The growth pace was the most rapid in 2017 when the average export price increased by 49% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Azerbaijan ($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 France (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Cuttlefishes Imports

Imports into Luxembourg

Frozen cuttlefishes imports into Luxembourg totaled X tons in 2021, growing by 4.2% against 2020. In general, imports, however, showed a sharp decline. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen cuttlefishes imports expanded sharply to $X in 2021. Over the period under review, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 14%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest frozen cuttlefishes supplier to Luxembourg, with a 46% share of total imports. Moreover, frozen cuttlefishes imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Portugal (X tons) ranked third in terms of total imports with an 18% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled -11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-24.3% per year) and Portugal (-22.6% per year).

In value terms, France ($X) constituted the largest supplier of frozen cuttlefishes to Luxembourg, comprising 55% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by Portugal, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-20.7% per year) and Portugal (-17.6% per year).

Import Prices by Country

In 2021, the average frozen cuttlefishes import price amounted to $X per ton, increasing by 8.4% against the previous year. In general, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +34.7% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 34% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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