Scandinavia: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Scandinavia

The Scandinavia frozen norway lobster market plummeted to $X in 2022, declining by -16.5% against the previous year. In general, consumption, however, posted a resilient expansion. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Frozen Norway Lobster Production in Scandinavia

In value terms, frozen norway lobster production shrank to $X in 2022 estimated in export price. Overall, production recorded a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by 666%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Scandinavia

In 2022, shipments abroad of frozen norway lobsters increased by 246% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 with an increase of 363%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen norway lobster exports skyrocketed to $X in 2022. Overall, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 424%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Norway represented the largest exporter of frozen norway lobsters in Scandinavia, with the volume of exports accounting for X tons, which was approx. 78% of total exports in 2022. It was distantly followed by Sweden (X tons), committing a 22% share of total exports.

Norway was also the fastest-growing in terms of the frozen norway lobsters exports, with a CAGR of +33.4% from 2012 to 2022. Sweden (-16.2%) illustrated a downward trend over the same period. While the share of Norway (+75 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-74.8 p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Norway amounted to +46.1%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, picking up by 14% against the previous year. Overall, the export price showed buoyant growth. The most prominent rate of growth was recorded in 2014 when the export price increased by 44%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat 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 (+9.5%).

Frozen Norway Lobster Imports

Imports in Scandinavia

In 2022, the amount of frozen norway lobsters imported in Scandinavia surged to X tons, picking up by 16% on the previous year. Total imports indicated a prominent increase from 2012 to 2022: its volume 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, imports decreased by -9.7% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 96% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen norway lobster imports soared to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.2% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of 48%. As a result, imports attained the peak of $X; afterwards, it flattened through to 2022.

Imports by Country

Sweden (X tons) and Norway (X tons) dominates imports structure, together creating 98% of total imports. Finland (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

Norway, with a CAGR of +16.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, surging by 3.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 23%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden ($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 (+0.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform