Spain: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Spain

In 2021, after two years of decline, there was significant growth in the Spanish seafood meals and pellets market, when its value increased by 14% to $X. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Spain

In value terms, seafood meals and pellets production expanded remarkably to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +79.0% against 2012 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 19%. Over the period under review, production reached the peak level in 2021 and is likely to see steady growth in years to come.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Spain

In 2021, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by 15% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% 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 +96.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 32% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, seafood meals and pellets exports soared to $X in 2021. Overall, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +105.4% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 35%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Greece (X tons), France (X tons) and Italy (X tons) were the main destinations of seafood meals and pellets exports from Spain, together comprising 74% of total exports. These countries were followed by Turkey, Germany, the Netherlands, Portugal, the UK, Hungary and Cyprus, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +101.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for seafood meals and pellets exported from Spain were France ($X), Greece ($X) and Italy ($X), with a combined 75% share of total exports. Turkey, Germany, Portugal, the Netherlands, the UK, Hungary and Cyprus lagged somewhat behind, together accounting for a further 20%.

Turkey, with a CAGR of +87.6%, 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

The average seafood meals and pellets export price stood at $X per ton in 2021, rising by 3.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Portugal ($X per ton) and Hungary ($X per ton), while the average price for exports to Turkey ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Spain

In 2021, the amount of flours, meals and pellets of fish or of crustaceans and molluscs imported into Spain soared to X tons, jumping by 22% against the year before. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.2% against 2015 indices. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, seafood meals and pellets imports surged to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 33%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Morocco (X tons), Chile (X tons) and Portugal (X tons) were the main suppliers of seafood meals and pellets imports to Spain, with a combined 38% share of total imports. Iceland, Denmark, Peru, South Africa, Mauritania, Norway, Senegal, Latvia and France lagged somewhat behind, together comprising a further 48%.

From 2012 to 2021, the biggest increases were recorded for Mauritania (with a CAGR of +65.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Morocco ($X) and Iceland ($X) were the largest seafood meals and pellets suppliers to Spain, with a combined 41% share of total imports. Denmark, Peru, South Africa, Mauritania, Portugal, Norway, Latvia, France and Senegal lagged somewhat behind, together accounting for a further 45%.

Among the main suppliers, Mauritania, with a CAGR of +68.9%, 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 seafood meals and pellets import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 16% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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