Scandinavia: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Scandinavia

The Scandinavia frozen whole fish market soared to $X in 2021, growing by 53% against the previous year. Over the period under review, consumption recorded prominent growth. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Frozen Whole Fish Production in Scandinavia

In value terms, frozen whole fish production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a pronounced downturn. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Frozen Whole Fish Exports

Exports in Scandinavia

Frozen whole fish exports was estimated at X tons in 2021, almost unchanged from the year before. Overall, exports, however, saw a pronounced descent. The growth pace was the most rapid in 2020 with an increase of 17%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, frozen whole fish exports reached $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 9.8%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Norway was the key exporting country with an export of around X tons, which amounted to 81% of total exports. It was distantly followed by Denmark (X tons), committing a 12% share of total exports. The following exporters - Sweden (X tons) and Finland (X tons) - together made up 6.7% of total exports.

Norway experienced a relatively flat trend pattern with regard to volume of exports of frozen whole fish. At the same time, Denmark (+8.1%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +8.1% from 2012-2021. Finland experienced a relatively flat trend pattern. By contrast, Sweden (-2.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Norway and Denmark increased by +15 and +7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) remains the largest frozen whole fish supplier in Scandinavia, comprising 72% of total exports. The second position in the ranking was held by Denmark ($X), with a 23% share of total exports. It was followed by Sweden, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value in Norway stood at +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (+7.1% per year) and Sweden (+9.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2016 when the export price increased by 12%. The level of export peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+12.8%), while the other leaders experienced mixed trends in the export price figures.

Frozen Whole Fish Imports

Imports in Scandinavia

In 2021, overseas purchases of frozen whole fish increased by 1.3% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +17.3% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, frozen whole fish imports reached $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.3% against 2013 indices. The pace of growth was the most pronounced in 2016 when imports increased by 26%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Denmark was the major importing country with an import of about X tons, which accounted for 63% of total imports. Sweden (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Norway (15%).

From 2012 to 2021, average annual rates of growth with regard to frozen whole fish imports into Denmark stood at +6.1%. At the same time, Sweden (+14.2%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +14.2% from 2012-2021. By contrast, Norway (-1.8%) illustrated a downward trend over the same period. While the share of Sweden (+11 p.p.) and Denmark (+5.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Norway (-12.5 p.p.) displayed negative dynamics.

In value terms, Denmark ($X) constitutes the largest market for imported frozen whole fish in Scandinavia, comprising 70% of total imports. The second position in the ranking was held by Sweden ($X), with a 19% share of total imports.

In Denmark, frozen whole fish imports expanded at an average annual rate of +6.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+13.0% per year) and Norway (-3.6% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Denmark ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform