Luxembourg: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Luxembourg

For the third consecutive year, the Luxembourg frozen whole fish market recorded decline in sales value, which decreased by -1.5% to $X in 2021. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Frozen Whole Fish Exports

Exports from Luxembourg

In 2021, the amount of frozen whole fish exported from Luxembourg skyrocketed to X tons, picking up by 64% on 2020. In general, exports showed a perceptible expansion. The pace of growth was the most pronounced in 2015 when exports increased by 79% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen whole fish exports stood at $X in 2021. Overall, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 83% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for frozen whole fish exports from Luxembourg, accounting for a 47% share of total exports. Moreover, frozen whole fish exports to the UK exceeded the volume sent to the second major destination, Belgium (X tons), twofold. France (X tons) ranked third in terms of total exports with a 19% 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: Belgium (-5.0% per year) and France (-4.7% per year).

In value terms, the largest markets for frozen whole fish exported from Luxembourg were Belgium ($X), the UK ($X) and France ($X), together comprising 75% of total exports. These countries were followed by Germany, Azerbaijan and Portugal, which together accounted for a further 25%.

Among the main countries of destination, Azerbaijan, with a CAGR of +44.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average frozen whole fish export price stood at $X per ton in 2021, dropping by -35% against the previous year. Overall, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 73% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Portugal ($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 Portugal (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Whole Fish Imports

Imports into Luxembourg

In 2021, purchases abroad of frozen whole fish decreased by -2.6% to X tons, falling for the third consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 18% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, frozen whole fish imports stood at $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.4% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 25%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Belgium (X tons), Portugal (X tons) and France (X tons) were the main suppliers of frozen whole fish imports to Luxembourg, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +10.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X), Portugal ($X) and France ($X) were the largest frozen whole fish suppliers to Luxembourg, with a combined 94% share of total imports.

Belgium, with a CAGR of +10.5%, saw the highest growth rate of the value of imports, in terms of 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 frozen whole fish import price stood at $X per ton in 2021, rising by 2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The pace of growth was the most pronounced in 2016 when the average import price increased by 39% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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