Spain - Frozen Crustaceans - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Spain's Market for Frozen Crabs, Lobsters, Shrimps, and Prawns Totaled $1.3B
IndexBox has just published a new report: 'Spain - Frozen Crustaceans - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.
The revenue of the frozen crustaceans market in Spain amounted to $1.3B in 2018, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
Production in Spain
In 2018, approx. 39K tonnes of frozen crustaceans were produced in Spain; coming down by -2.3% against the previous year. Overall, frozen crustaceans production continues to decline.
Exports from Spain
In 2018, approx. 44K tonnes of frozen crustaceans were exported from Spain; approximately reflecting the previous year. The total export volume increased at an average annual rate of +6.9% over the period from 2014 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2015 when exports increased by 18% y-o-y. Over the period under review, frozen crustaceans exports attained their maximum at 45K tonnes in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.
In value terms, frozen crustaceans exports stood at $418M (IndexBox estimates) in 2018.
Exports by Country
Italy (17K tonnes), Portugal (10K tonnes) and France (5.6K tonnes) were the main destinations of frozen crustaceans exports from Spain, together accounting for 74% of total exports. These countries were followed by the U.S., Germany, Greece, Belgium, the UK and the Netherlands, which together accounted for a further 18%.
From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by the U.S. (+52.7% per year), while exports for the other leaders experienced more modest paces of growth.
In value terms, Italy ($164M), Portugal ($96M) and France ($61M) appeared to be the largest markets for frozen crustaceans exported from Spain worldwide, together accounting for 77% of total exports. Germany, the U.S., Belgium, Greece, the UK and the Netherlands lagged somewhat behind, together accounting for a further 16%.
Export Prices by Country
The average frozen crustaceans export price stood at $9,432 per tonne in 2018, growing by 3.9% against the previous year. In general, the frozen crustaceans export price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of 6.3% y-o-y. The export price peaked at $10,776 per tonne in 2014; however, from 2015 to 2018, export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the UK ($11,039 per tonne), while the average price for exports to the U.S. ($5,359 per tonne) was amongst the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands, while the prices for the other major destinations experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the frozen crustaceans market in Spain. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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