Portugal: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Portugal

In 2022, the Portuguese frozen fish and seafood market increased by X% to $X, rising for the second consecutive year after two years of decline. The market 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. Frozen fish and seafood consumption peaked at $X in 2018; afterwards, it flattened through to 2022.

Production of Frozen Fish And Seafood in Portugal

In value terms, frozen fish and seafood production surged to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Frozen Fish And Seafood

Exports from Portugal

In 2022, approx. X tons of frozen fish and seafood were exported from Portugal; approximately reflecting the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports rose notably to $X in 2022. Overall, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for frozen fish and seafood exports from Portugal, with a X% share of total exports. Moreover, frozen fish and seafood exports to Spain exceeded the volume sent to the second major destination, France (X tons), eightfold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Brazil (X% per year).

In value terms, Spain ($X) remains the key foreign market for frozen fish and seafood exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Italy (X% per year).

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 Portugal

In 2022, purchases abroad of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports rose rapidly to $X in 2022. The total import 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 in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen fish and seafood to Portugal, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Spain exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold. China (X tons) ranked third in terms of total imports with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Ecuador (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

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 Denmark ($X per ton), while the price for Iceland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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