Norway: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Norway

The Norwegian frozen fish and seafood market amounted to $X in 2022, approximately mirroring the previous year. Overall, consumption saw a deep contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Frozen Fish And Seafood in Norway

In value terms, frozen fish and seafood production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable downturn. The growth pace was the most rapid in 2021 with an increase of X%. Frozen fish and seafood production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Norway

In 2022, overseas shipments of frozen fish and seafood decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, frozen fish and seafood exports reached $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons) was the main destination for frozen fish and seafood exports from Norway, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. The third position in this ranking was held by Lithuania (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Lithuania (X% per year).

In value terms, the largest markets for frozen fish and seafood exported from Norway were China ($X), the United States ($X) and Japan ($X), together comprising X% of total exports. Poland, the UK, Lithuania, South Korea, Vietnam, the Netherlands, Germany, Egypt, Ukraine and Nigeria lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Norway

In 2022, supplies from abroad of frozen fish and seafood decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, imports saw a perceptible reduction. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports declined to $X in 2022. Over the period under review, imports continue to indicate a mild decline. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Denmark (X tons) and Faroe Islands (X tons) were the main suppliers of frozen fish and seafood imports to Norway, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of frozen fish and seafood to Norway, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with an X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Denmark (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :