United Kingdom: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in the UK

The UK inedible fish products market fell to $X in 2022, reducing by -8.6% against the previous year. Over the period under review, consumption saw a noticeable contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Inedible Fish Products Production in the UK

In value terms, inedible fish products production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, showed a mild slump. The pace of growth appeared the most rapid in 2018 with an increase of 128%. Inedible fish products production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports from the UK

In 2022, inedible fish products exports from the UK skyrocketed to X tons, picking up by 131% compared with 2021 figures. Overall, exports, however, saw a mild decline. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports skyrocketed to $X in 2022. In general, exports, however, saw a slight decrease. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for inedible fish products exports from the UK, accounting for a 39% share of total exports. Moreover, inedible fish products exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. France (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+115.6% per year) and France (+13.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for inedible fish products exports from the UK, comprising 59% of total exports. The second position in the ranking was held by France ($X), with a 14% share of total exports. It was followed by Germany, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.5% per year) and Germany (+47.0% per year).

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, waning by -3.1% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 59% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Nicaragua ($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 Estonia (+39.8%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into the UK

In 2022, purchases abroad of inedible fish products decreased by 0% to X tons, falling for the third year in a row after four years of growth. Over the period under review, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 78% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, inedible fish products imports totaled $X in 2022. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 81%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Ireland (X tons) constituted the largest supplier of inedible fish products to the UK, with a 43% share of total imports. Moreover, inedible fish products imports from Ireland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. France (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ireland stood at -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.6% per year) and France (-17.9% per year).

In value terms, the largest inedible fish products suppliers to the UK were Denmark ($X), Ireland ($X) and the Netherlands ($X), together comprising 62% of total imports.

Denmark, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 inedible fish products import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price enjoyed a measured expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 33%. The import price peaked in 2022 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 Norway ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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