Spain: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Spain

The Spanish market for fish fillets and other fish meat surged to $X in 2022, picking up by 17% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +69.6% against 2020 indices. Consumption of peaked in 2022 and is likely to continue growth in the near future.

Production of Fish Fillets and Other Fish Meat in Spain

In value terms, production of fish fillets and other fish meat expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, posted buoyant growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by 76% against the previous year. Over the period under review, production of hit record highs in 2022 and is likely to see gradual growth in years to come.

Exports of Fish Fillets and Other Fish Meat

Exports from Spain

In 2022, overseas shipments of fish fillets and other fish meat increased by 21% to X tons, rising for the second consecutive year after two years of decline. In general, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +38.3% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of fish fillets and other fish meat surged to $X in 2022. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Portugal (X tons) and France (X tons) were the main destinations of exports of fish fillets and other fish meat from Spain, with a combined 77% share of total exports. Japan, South Korea and Poland lagged somewhat behind, together accounting for a further 8.9%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for fish fillets and other fish meat exports from Spain, comprising 35% of total exports. The second position in the ranking was held by Portugal ($X), with a 15% share of total exports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+7.2% per year) and France (+12.1% per year).

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, surging by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2021 when the average export price increased by 13%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Poland ($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 South Korea (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Spain

In 2022, supplies from abroad of fish fillets and other fish meat increased by 21% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, imports of fish fillets and other fish meat surged to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Namibia (X tons), China (X tons) and Iceland (X tons) were the main suppliers of imports of fish fillets and other fish meat to Spain, with a combined 38% share of total imports. The United States, Norway, Argentina, Vietnam, Portugal, South Africa, the Netherlands, Mexico, Sweden and Chile lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +50.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X), Norway ($X) and Iceland ($X) appeared to be the largest fish fillets and other fish meat suppliers to Spain, together comprising 33% of total imports. China, Sweden, the United States, Mexico, the Netherlands, Portugal, Argentina, Chile, Vietnam and South Africa lagged somewhat behind, together accounting for a further 44%.

In terms of the main suppliers, Sweden, with a CAGR of +49.9%, saw the highest growth rate of 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 import price for fish fillets and other fish meat amounted to $X per ton, surging by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2017 an increase of 13% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Sweden ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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