Scandinavia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Scandinavia

The Scandinavia frozen fish and seafood market expanded notably to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, saw a perceptible decline. 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.

Production of Frozen Fish And Seafood in Scandinavia

In value terms, frozen fish and seafood production totaled $X in 2022 estimated in export price. In general, production continues to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports in Scandinavia

In 2022, after three years of growth, there was significant decline in overseas shipments of frozen fish and seafood, when their volume decreased by X% to X tons. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, frozen fish and seafood 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 in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Norway prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Sweden (X tons), constituting a X% share of total exports. Finland (X tons) held a relatively small share of total exports.

Norway experienced a relatively flat trend pattern with regard to volume of exports of frozen fish and seafood. At the same time, Sweden (X%) and Finland (X%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2022. Sweden (X p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) remains the largest frozen fish and seafood supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Sweden ($X), with an X% share of total exports.

In Norway, frozen fish and seafood exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (X% per year) and Finland (X% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Fish And Seafood

Imports in Scandinavia

In 2022, purchases abroad of frozen fish and seafood decreased by X% to X tons, falling for the second consecutive year after three years of growth. The total import 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 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports rose modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Sweden represented the key importer of frozen fish and seafood in Scandinavia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Norway (X tons) and Finland (X tons), together achieving a X% share of total imports.

Sweden was also the fastest-growing in terms of the frozen fish and seafood imports, with a CAGR of X% from 2012 to 2022. Finland (X%) and Norway (X%) illustrated a downward trend over the same period. While the share of Sweden (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (X p.p.) and Norway (X p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported frozen fish and seafood in Scandinavia, comprising X% of total imports. The second position in the ranking was taken by Norway ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled X%. In the other countries, the average annual rates were as follows: Norway (X% per year) and Finland (X% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform