Scandinavia: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Scandinavia

The Scandinavia frozen fish fillet market was finally on the rise to reach $X in 2022, after three years of decline. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Fish Fillet Production in Scandinavia

In value terms, frozen fish fillet production reached $X in 2022 estimated in export price. Overall, production, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2020 when the production volume increased by 21% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Frozen Fish Fillet Exports

Exports in Scandinavia

In 2022, overseas shipments of frozen fish fillet decreased by -0.4% to X tons for the first time since 2015, thus ending a six-year rising trend. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +76.0% against 2013 indices. The pace of growth appeared the most rapid in 2021 with an increase of 17% against the previous year. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, frozen fish fillet exports rose significantly to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +111.4% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of 21% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Norway represented the major exporting country with an export of about X tons, which amounted to 82% of total exports. It was distantly followed by Sweden (X tons), achieving an 18% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet exports from Norway stood at +3.4%. At the same time, Sweden (+13.4%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +13.4% from 2012-2022. While the share of Sweden (+10 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Norway (-9.9 p.p.) displayed negative dynamics.

In value terms, Norway ($X) remains the largest frozen fish fillet supplier in Scandinavia, comprising 83% of total exports. The second position in the ranking was held by Sweden ($X), with a 17% share of total exports.

In Norway, frozen fish fillet exports increased at an average annual rate of +6.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, 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 (+2.6%).

Frozen Fish Fillet Imports

Imports in Scandinavia

In 2022, the amount of frozen fish fillet imported in Scandinavia contracted slightly to X tons, almost unchanged from 2021 figures. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 12% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, frozen fish fillet imports expanded to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 14% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Sweden prevails in imports structure, resulting at X tons, which was near 85% of total imports in 2022. Norway (X tons) took the second position in the ranking, followed by Finland (X tons). All these countries together took near 15% share of total imports.

Sweden was also the fastest-growing in terms of the frozen fish fillet imports, with a CAGR of +2.6% from 2012 to 2022. Norway experienced a relatively flat trend pattern. Finland (-2.9%) illustrated a downward trend over the same period. Sweden (+6.1 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Finland saw its share reduced by -2.7% and -3.4% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported frozen fish fillet in Scandinavia, comprising 84% of total imports. The second position in the ranking was held by Norway ($X), with an 11% share of total imports.

In Sweden, frozen fish fillet imports expanded at an average annual rate of +4.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Norway (+2.1% per year) and Finland (-1.0% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 when the import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform