Spain: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Spain

In 2021, the Spanish battered fish fillet market increased by 29% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a relatively flat trend pattern. Battered fish fillet consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Battered Fish Fillet Production in Spain

In value terms, battered fish fillet production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 25%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Battered Fish Fillet Exports

Exports from Spain

In 2021, after six years of growth, there was significant decline in overseas shipments of fish fillets in batter or breadcrumbs, when their volume decreased by -18.8% to X tons. In general, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell sharply in the following year.

In value terms, battered fish fillet exports dropped slightly to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.4% against 2014 indices. The pace of growth was the most pronounced in 2016 when exports increased by 24% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

Portugal (X tons) was the main destination for battered fish fillet exports from Spain, accounting for a 48% share of total exports. Moreover, battered fish fillet exports to Portugal exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was taken by Sweden (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Portugal stood at +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-1.6% per year) and Sweden (+721.3% per year).

In value terms, Portugal ($X), Italy ($X) and France ($X) were the largest markets for battered fish fillet exported from Spain worldwide, with a combined 74% share of total exports. These countries were followed by Sweden, Greece, Bosnia and Herzegovina and Serbia, which together accounted for a further 16%.

Among the main countries of destination, Sweden, with a CAGR of +523.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average battered fish fillet export price amounted to $X per ton, increasing by 22% against the previous year. Over the period under review, the export price continues to indicate mild growth. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Spain

In 2021, supplies from abroad of fish fillets in batter or breadcrumbs increased by 9% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 65%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, battered fish fillet imports stood at $X in 2021. Overall, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 95% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Morocco (X tons), Cabo Verde (X tons) and China (X tons) were the main suppliers of battered fish fillet imports to Spain, with a combined 70% share of total imports. Germany, the Netherlands, France, Portugal and Denmark lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest battered fish fillet suppliers to Spain were Morocco ($X), Cabo Verde ($X) and China ($X), together comprising 74% of total imports. These countries were followed by Germany, the Netherlands, France, Portugal and Denmark, which together accounted for a further 21%.

Among the main suppliers, the Netherlands, with a CAGR of +29.1%, saw 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

The average battered fish fillet import price stood at $X per ton in 2021, increasing by 4.5% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, battered fish fillet import price increased by +72.8% against 2015 indices. The growth pace was the most rapid in 2017 an increase of 23%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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