Luxembourg: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Luxembourg

In 2022, after two years of growth, there was decline in the Luxembourg frozen fish fillet market, when its value decreased by -0.2% to $X. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +18.2% against 2019 indices. Frozen fish fillet consumption peaked at $X in 2021, and then fell in the following year.

Frozen Fish Fillet Exports

Exports from Luxembourg

In 2022, the amount of frozen fish fillet exported from Luxembourg rose significantly to X tons, with an increase of 6.8% compared with the year before. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 56% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, frozen fish fillet exports rose markedly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 33% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of frozen fish fillet exports from Luxembourg, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +4.6%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for frozen fish fillet exported from Luxembourg were Belgium ($X), France ($X) and Germany ($X), with a combined 99% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +5.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average frozen fish fillet export price amounted to $X per ton, stabilizing at the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell slightly in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Azerbaijan ($X per ton), while the average price for exports to France ($X per ton) and Belgium ($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 (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Fish Fillet Imports

Imports into Luxembourg

In 2022, approx. X tons of frozen fish fillet were imported into Luxembourg; reducing by -2.2% against the previous year's figure. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.0% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 21%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, frozen fish fillet imports stood at $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 26% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Belgium (X tons), France (X tons) and Portugal (X tons) were the main suppliers of frozen fish fillet imports to Luxembourg, together accounting for 52% of total imports. Germany, the Netherlands, China, Namibia, Vietnam, Russia, Norway and Denmark lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Namibia (with a CAGR of +80.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish fillet suppliers to Luxembourg were Belgium ($X), France ($X) and Germany ($X), with a combined 54% share of total imports. Portugal, China, the Netherlands, Norway, Russia, Namibia, Vietnam and Denmark lagged somewhat behind, together comprising a further 31%.

Russia, with a CAGR of +77.6%, 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

In 2022, the average frozen fish fillet import price amounted to $X per ton, with an increase of 2.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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