Scandinavia: Fish Parts Market 2024

Fish Parts Market Size in Scandinavia

The Scandinavia fish parts market fell sharply to $X in 2022, with a decrease of -18.5% against the previous year. Overall, consumption continues to indicate a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Fish Parts Production in Scandinavia

In value terms, fish parts production dropped to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 67%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Fish Parts Exports

Exports in Scandinavia

In 2022, overseas shipments of fish heads, tails and maws increased by 7.7% to X tons, rising for the second year in a row after three years of decline. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +18.2% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 70%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, fish parts exports expanded rapidly to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +15.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 79% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X tons) represented roughly 99% of total exports in 2022.

Norway was also the fastest-growing in terms of the fish heads, tails and maws exports, with a CAGR of +8.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) also remains the largest fish parts supplier in Scandinavia.

From 2012 to 2022, the average annual growth rate of value in Norway totaled +2.1%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, increasing by 5.4% against the previous year. Over the period under review, the export price, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 23%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Norway.

From 2012 to 2022, the rate of growth in terms of prices for Norway amounted to -6.1% per year.

Fish Parts Imports

Imports in Scandinavia

In 2022, purchases abroad of fish heads, tails and maws increased by 67% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports continue to indicate modest growth. The pace of growth appeared the most rapid in 2015 when imports increased by 355%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, fish parts imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 426% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) was the main importer of fish heads, tails and maws, constituting 75% of total imports. It was distantly followed by Norway (X tons), comprising a 25% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fish parts imports into Sweden stood at +3.9%. At the same time, Norway (+9.4%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +9.4% from 2012-2022. Norway (+25 p.p.) and Sweden (+15 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fish parts importing markets in Scandinavia were Norway ($X) and Sweden ($X).

Norway, with a CAGR of +36.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, dropping by -20.6% against the previous year. Overall, the import price recorded a deep downturn. The growth pace was the most rapid in 2019 when the import price increased by 131% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+24.7%).

Source: IndexBox Platform