Portugal: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Portugal

The Portuguese battered fish fillet market rose slightly to $X in 2021, increasing by 1.7% against the previous year. Overall, consumption, however, recorded resilient growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Battered Fish Fillet Production in Portugal

In value terms, battered fish fillet production fell to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 44% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Battered Fish Fillet Exports

Exports from Portugal

In 2021, shipments abroad of fish fillets in batter or breadcrumbs increased by 12% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 78% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports expanded notably to $X in 2021. Overall, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 44%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), France (X tons) and Brazil (X tons) were the main destinations of battered fish fillet exports from Portugal, together comprising 75% of total exports. These countries were followed by Belgium, Switzerland, Italy, Germany and the United States, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +42.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Brazil ($X) constituted the largest markets for battered fish fillet exported from Portugal worldwide, together accounting for 73% of total exports. Belgium, Italy, Switzerland, Germany and the United States lagged somewhat behind, together accounting for a further 15%.

In terms of the main countries of destination, Italy, with a CAGR of +45.8%, 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

The average battered fish fillet export price stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price showed a resilient expansion. The growth pace was the most rapid in 2015 an increase of 71% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 the United States (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Portugal

In 2021, the amount of fish fillets in batter or breadcrumbs imported into Portugal rose modestly to X tons, picking up by 1.7% against 2020 figures. The total import volume increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, battered fish fillet imports totaled $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Spain (X tons), Germany (X tons) and Morocco (X tons) were the main suppliers of battered fish fillet imports to Portugal, together comprising 90% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +112.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest battered fish fillet suppliers to Portugal were Spain ($X), Germany ($X) and Morocco ($X), with a combined 91% share of total imports.

Morocco, with a CAGR of +118.7%, saw the highest growth rate of 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, increasing by 6% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, battered fish fillet import price increased by +8.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 41%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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