Global Inedible Fish Products Market 2024

Inedible Fish Products Market Size

The global inedible fish products market contracted to $X in 2022, waning by -2.6% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +4.2% against 2020 indices. Global consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. In general, production, however, saw moderate growth. The growth pace was the most rapid in 2014 when the production volume increased by 35%. Global production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports

After four years of growth, shipments abroad of inedible fish products decreased by -2.5% to X tons in 2022. In general, total exports indicated a remarkable increase 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 +35.9% against 2017 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 19%. Over the period under review, the global exports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, inedible fish products exports rose slightly to $X in 2022. The total export value increased at an average annual rate of +5.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 23%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, Poland (X tons), distantly followed by Norway (X tons), Iceland (X tons), Germany (X tons) and Sweden (X tons) represented the key exporters of inedible fish products, together constituting 54% of total exports. Morocco (X tons), Canada (X tons), Vietnam (X tons), the Netherlands (X tons), South Korea (X tons), Free Zones (X tons), the United States (X tons) and Portugal (X tons) took a minor share of total exports.

Exports from Poland increased at an average annual rate of +21.4% from 2012 to 2022. At the same time, Germany (+25.7%), Morocco (+14.1%), Vietnam (+12.5%), Portugal (+5.9%), Iceland (+4.3%), Canada (+3.2%), South Korea (+3.0%) and Norway (+1.9%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in the world, with a CAGR of +25.7% from 2012-2022. Sweden experienced a relatively flat trend pattern. By contrast, Free Zones (-2.6%), the Netherlands (-2.9%) and the United States (-4.7%) illustrated a downward trend over the same period. While the share of Poland (+19 p.p.), Germany (+4.1 p.p.), Morocco (+2.4 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Free Zones (-2.6 p.p.), the United States (-3.4 p.p.), Sweden (-3.7 p.p.), Norway (-4.4 p.p.) and the Netherlands (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest inedible fish products supplier worldwide, comprising 17% of global exports. The second position in the ranking was held by Germany ($X), with a 6.8% share of global exports. It was followed by Poland, with a 6% share.

In the United States, inedible fish products exports expanded at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+11.1% per year) and Poland (+19.5% per year).

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, surging by 5.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 16%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.1%), while the other global leaders experienced more modest paces of growth.

Inedible Fish Products Imports

Imports

Global inedible fish products imports rose notably to X tons in 2022, growing by 12% compared with 2021 figures. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 19% against the previous year. Over the period under review, global imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports amounted to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Denmark was the major importer of inedible fish products in the world, with the volume of imports finishing at X tons, which was approx. 28% of total imports in 2022. Germany (X tons) ranks second in terms of the total imports with an 11% share, followed by Ireland (7.1%), Norway (6.6%), the United States (6.4%), Iceland (5.6%), Ecuador (5%) and Canada (4.7%). Spain (X tons), France (X tons), Japan (X tons) and Thailand (X tons) followed a long way behind the leaders.

Denmark experienced a relatively flat trend pattern with regard to volume of imports of inedible fish products. At the same time, Ireland (+50.6%), Thailand (+18.6%), Norway (+13.7%), France (+11.2%), the United States (+9.8%), Spain (+9.3%), Germany (+6.8%), Ecuador (+6.5%), Canada (+4.8%) and Iceland (+3.7%) displayed positive paces of growth. Moreover, Ireland emerged as the fastest-growing importer imported in the world, with a CAGR of +50.6% from 2012-2022. By contrast, Japan (-9.1%) illustrated a downward trend over the same period. Ireland (+6.9 p.p.), Norway (+4.1 p.p.), Germany (+3.1 p.p.), the United States (+2.9 p.p.), France (+2 p.p.) and Spain (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while Japan and Denmark saw its share reduced by -6.9% and -8.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Canada ($X) and Denmark ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 28% share of global imports. Norway, Japan, France, Germany, Thailand, Iceland, Ecuador, Spain and Ireland lagged somewhat behind, together comprising a further 32%.

France, with a CAGR of +19.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 19%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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