Norway: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in Norway

The Norwegian fish meals and pellet market fell significantly to $X in 2021, shrinking by -17.2% against the previous year. Overall, consumption, however, continues to indicate a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020, and then reduced rapidly in the following year.

Production of Flours, Meals And Pellets Of Fish in Norway

In value terms, fish meals and pellet production dropped to $X in 2021 estimated in export price. In general, production, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Fish meals and pellet production peaked at $X in 2020, and then dropped in the following year.

Exports of Flours, Meals And Pellets Of Fish

Exports from Norway

In 2021, overseas shipments of flours, meals and pellets of fish were finally on the rise to reach X tons after four years of decline. Over the period under review, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 647%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, fish meals and pellet exports contracted remarkably to $X in 2021. In general, exports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 when exports increased by 851%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for fish meals and pellet exports from Norway, with a 68% share of total exports. Moreover, fish meals and pellet exports to Sweden exceeded the volume sent to the second major destination, Greece (X tons), fourfold. Japan (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden stood at -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+5.7% per year) and Japan (-29.0% per year).

In value terms, Sweden ($X) remains the key foreign market for flours, meals and pellets of fish exports from Norway, comprising 68% of total exports. The second position in the ranking was taken by Greece ($X), with a 9.6% share of total exports. It was followed by Japan, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden amounted to -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+7.4% per year) and Japan (-28.0% per year).

Export Prices by Country

The average fish meals and pellet export price stood at $X per ton in 2021, dropping by -35.8% against the previous year. Overall, the export price, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 57%. Over the period under review, the average export prices attained the maximum 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 external markets. In 2021, the country with the highest price was Denmark ($X per ton), while the average price for exports to Greece ($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 Spain (+43.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports into Norway

In 2021, the amount of flours, meals and pellets of fish imported into Norway skyrocketed to X tons, picking up by 30% against the previous year. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 364% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, fish meals and pellet imports rose markedly to $X in 2021. Over the period under review, imports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 162%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Iceland (X tons) constituted the largest supplier of fish meals and pellet to Norway, accounting for a 86% share of total imports. Moreover, fish meals and pellet imports from Iceland exceeded the figures recorded by the second-largest supplier, Faroe Islands (X tons), more than tenfold. The third position in this ranking was taken by Canada (X tons), with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from Iceland totaled +37.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Faroe Islands (-63.4% per year) and Canada (0.0% per year).

In value terms, Iceland ($X) constituted the largest supplier of flours, meals and pellets of fish to Norway, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports. It was followed by Faroe Islands, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Iceland totaled +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-14.9% per year) and Faroe Islands (+668.9% per year).

Import Prices by Country

In 2021, the average fish meals and pellet import price amounted to $X per ton, reducing by -12% against the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2014 an increase of 42%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Faroe Islands (+2,000.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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