Spain: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Spain

The Spanish fish fat and oil market skyrocketed to $X in 2022, growing by 30% against the previous year. In general, consumption saw resilient growth. Fish fat and oil consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Fish Fats And Oils in Spain

In value terms, fish fat and oil production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Fish Fats And Oils

Exports from Spain

In 2022, the amount of fish fats and oils exported from Spain rose significantly to X tons, increasing by 6.6% on the previous year. Over the period under review, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 30% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, fish fat and oil exports soared to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 45% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Greece (X tons), France (X tons) and Italy (X tons) were the main destinations of fish fat and oil exports from Spain, together comprising 78% of total exports. Germany, Portugal, the Netherlands, Egypt, Japan and Cyprus lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +53.1%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), France ($X) and Italy ($X) appeared to be the largest markets for fish fat and oil exported from Spain worldwide, together comprising 59% of total exports. The Netherlands, Germany, Portugal, Japan, Egypt and Cyprus lagged somewhat behind, together comprising a further 30%.

Egypt, with a CAGR of +66.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fish fat and oil export price amounted to $X per ton, increasing by 23% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 43% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into Spain

In 2022, supplies from abroad of fish fats and oils increased by 2.2% to X tons, rising for the eighth year in a row after two years of decline. Overall, imports continue to indicate tangible growth. The most prominent rate of growth was recorded in 2015 with an increase of 42% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, fish fat and oil imports surged to $X in 2022. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of 38% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Norway (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of fish fat and oil imports to Spain, with a combined 47% share of total imports. Denmark, Germany, Senegal, Mauritania, China, Portugal, Poland, Latvia, Japan and Peru lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +225.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), China ($X) and France ($X) constituted the largest fish fat and oil suppliers to Spain, with a combined 44% share of total imports. Senegal, Germany, Denmark, the Netherlands, Mauritania, Portugal, Poland, Latvia, Peru and Japan lagged somewhat behind, together accounting for a further 42%.

In terms of the main suppliers, Japan, with a CAGR of +167.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fish fat and oil import price amounted to $X per ton, with an increase of 31% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. As a result, import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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