United Kingdom: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in the UK

In 2022, the UK frozen norway lobster market decreased by -9.6% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Norway Lobster Production in the UK

In value terms, frozen norway lobster production fell slightly to $X in 2022 estimated in export price. Overall, production saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 8.5%. Frozen norway lobster production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports from the UK

Frozen norway lobster exports from the UK declined modestly to X tons in 2022, waning by -2.4% against 2021 figures. Overall, exports showed a perceptible contraction. The pace of growth was the most pronounced in 2021 when exports increased by 61% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen norway lobster exports expanded markedly to $X in 2022. In general, exports showed a mild slump. The growth pace was the most rapid in 2021 with an increase of 91% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), Spain (X tons) and Italy (X tons) were the main destinations of frozen norway lobster exports from the UK, with a combined 84% share of total exports. The Netherlands, Croatia, Denmark, Ireland and China lagged somewhat behind, together accounting for a further 6.6%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +28.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen norway lobster exported from the UK were France ($X), Italy ($X) and Spain ($X), together accounting for 82% of total exports. The Netherlands, Croatia, Denmark, Ireland and China lagged somewhat behind, together comprising a further 7.3%.

The Netherlands, with a CAGR of +31.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 frozen norway lobster export price stood at $X per ton in 2022, surging by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2021 an increase of 18%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

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 Croatia ($X per ton), while the average price for exports to China ($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 Vietnam (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into the UK

Frozen norway lobster imports into the UK dropped to X tons in 2022, reducing by -12.8% against the previous year. Overall, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 when imports increased by 24%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen norway lobster imports reduced notably to $X in 2022. In general, imports recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 48% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), India (X tons) and Ireland (X tons) were the main suppliers of frozen norway lobster imports to the UK, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +36.6%), while purchases for the other leaders experienced a decline.

In value terms, the largest frozen norway lobster suppliers to the UK were Vietnam ($X), India ($X) and Ireland ($X), with a combined 98% share of total imports.

In terms of the main suppliers, India, with a CAGR of +39.2%, 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 mixed trend patterns.

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, dropping by -6.3% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2018 an increase of 47%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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