Norway: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Norway

In 2022, the Norwegian frozen norway lobster market decreased by -29.5% to $X, falling for the third consecutive year after two years of growth. Overall, consumption, however, posted a perceptible increase. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports from Norway

In 2022, overseas shipments of frozen norway lobsters increased by 248% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted significant growth. The growth pace was the most rapid in 2017 when exports increased by 615% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, frozen norway lobster exports soared to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 912% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons) was the main destination for frozen norway lobster exports from Norway, accounting for a 87% share of total exports. Moreover, frozen norway lobster exports to Spain exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +215.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+41.5% per year) and Turkey (+47.3% per year).

In value terms, Spain ($X) remains the key foreign market for frozen norway lobsters exports from Norway, comprising 88% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 5.2% share of total exports. It was followed by Turkey, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain totaled +243.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+44.3% per year) and Turkey (+70.6% per year).

Export Prices by Country

In 2022, the average frozen norway lobster export price amounted to $X per ton, surging by 13% against the previous year. Overall, the export price posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 56% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark ($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 Turkey (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into Norway

In 2022, supplies from abroad of frozen norway lobsters was finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 291%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen norway lobster imports soared to $X in 2022. In general, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 317%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of frozen norway lobster to Norway, accounting for a 75% share of total imports. Moreover, frozen norway lobster imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. The third position in this ranking was held by Canada (X tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +37.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+9.4% per year) and Canada (+164.6% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of frozen norway lobsters to Norway, comprising 77% of total imports. The second position in the ranking was taken by Denmark ($X), with a 16% share of total imports. It was followed by Canada, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+4.8% per year) and Canada (+188.4% per year).

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, dropping by -4.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 35% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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