Norway: Frozen Fish Market 2024

Frozen Fish Market Size in Norway

The Norwegian frozen fish market expanded slightly to $X in 2022, rising by X% against the previous year. In general, consumption, however, showed a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Frozen Fish Production in Norway

In value terms, frozen fish production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Frozen fish production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Norway

In 2022, after three years of growth, there was significant decline in overseas shipments of frozen fish, when their volume decreased by X% to X tons. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, frozen fish exports rose significantly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

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

From 2012 to 2022, the average annual growth rate 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, China ($X), the United States ($X) and Japan ($X) appeared to be the largest markets for frozen fish exported from Norway worldwide, together accounting for X% of total exports. Poland, the UK, Lithuania, South Korea, Vietnam, Germany, Egypt, the Netherlands, Ukraine and Nigeria lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Vietnam, with a CAGR of X%, recorded 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 export price amounted to $X per ton, surging by X% against the previous year. Over the last decade, 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.

Frozen Fish Imports

Imports into Norway

In 2022, purchases abroad of frozen fish decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports fell to $X in 2022. In general, imports showed a slight curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Russia (X tons), Denmark (X tons) and Faroe Islands (X tons) were the main suppliers of frozen fish 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 ($X) constituted the largest supplier of frozen fish to Norway, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Lithuania, 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: China (X% per year) and Lithuania (X% per year).

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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