Norway: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Norway

In 2021, after three years of decline, there was growth in the Norwegian battered fish fillet market, when its value increased by 2.6% to $X. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Battered Fish Fillet Production in Norway

In value terms, battered fish fillet production soared to $X in 2021 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 194% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Battered Fish Fillet Exports

Exports from Norway

In 2021, overseas shipments of fish fillets in batter or breadcrumbs increased by 63% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports saw a resilient increase. The pace of growth appeared the most rapid in 2019 when exports increased by 297%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, battered fish fillet exports soared to $X in 2021. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 262% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Canada (X tons) was the main destination for battered fish fillet exports from Norway, accounting for a 86% share of total exports. Moreover, battered fish fillet exports to Canada exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-8.1% per year) and the UK (+86.3% per year).

In value terms, Canada ($X) remains the key foreign market for fish fillets in batter or breadcrumbs exports from Norway, comprising 84% of total exports. The second position in the ranking was held by Sweden ($X), with a 9.5% share of total exports. It was followed by the UK, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada amounted to +26.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-6.2% per year) and the UK (+74.3% per year).

Export Prices by Country

The average battered fish fillet export price stood at $X per ton in 2021, increasing by 10% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 41%. The export price peaked at $X per ton in 2014; however, from 2015 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 Sweden ($X per ton), while the average price for exports to the UK ($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 Denmark (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Norway

In 2021, overseas purchases of fish fillets in batter or breadcrumbs decreased by -4.6% to X tons for the first time since 2017, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 19% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then reduced slightly in the following year.

In value terms, battered fish fillet imports reached $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 13%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

The UK (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of battered fish fillet imports to Norway, with a combined 58% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +42.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest battered fish fillet suppliers to Norway were Sweden ($X), Denmark ($X) and the UK ($X), with a combined 60% share of total imports. France, Germany, Poland, the Netherlands and Estonia lagged somewhat behind, together comprising a further 37%.

Estonia, with a CAGR of +41.2%, recorded the highest rates of growth with regard to 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 battered fish fillet import price stood at $X per ton in 2021, growing by 5.8% against the previous year. In general, the import price, however, continues to indicate a slight contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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