Latvia - Frozen Fish And Seafood - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Frozen Fish and Seafood in Latvia - 2023
Contents:
- Price for Frozen Fish and Seafood in Latvia (CIF) - 2022
- Price for Frozen Fish and Seafood in Latvia (FOB) - 2022
- Imports of Frozen Fish and Seafood in Latvia
- Exports of Frozen Fish and Seafood in Latvia
Price for Frozen Fish and Seafood in Latvia (CIF) - 2022
The average frozen fish and seafood import price stood at $1,996 per ton in 2022, surging by 20% against the previous year. Over the period under review, the import price, however, showed a slight decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the maximum at $2,490 per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.
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 the Netherlands ($5,066 per ton), while the price for Lithuania ($908 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Faroe Islands (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Fish and Seafood in Latvia (FOB) - 2022
In 2022, the average frozen fish and seafood export price amounted to $1,950 per ton, with an increase of 10% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish and seafood export price increased by +28.0% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 36%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($11,868 per ton), while the average price for exports to Ghana ($447 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 the UK (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Fish and Seafood in Latvia
In 2022, after three years of growth, there was significant decline in supplies from abroad of frozen fish and seafood, when their volume decreased by -13.5% to 55K tons. Over the period under review, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +20.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.3% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 75% against the previous year.
In value terms, frozen fish and seafood imports amounted to $110M in 2022. The total import value increased at an average annual rate of +13.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 29%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.
| Import of Frozen Fish and Seafood in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 9.5 | 14.7 | 21.2 | 20.4 | 29.0% |
| Sweden | 10.4 | 17.6 | 21.3 | 19.7 | 23.7% |
| Norway | 9.1 | 10.6 | 8.6 | 15.6 | 19.7% |
| United Kingdom | 4.4 | 7.8 | 5.6 | 9.6 | 29.7% |
| Netherlands | 3.5 | 4.8 | 6.1 | 5.9 | 19.0% |
| Estonia | 6.0 | 6.8 | 7.0 | 5.6 | -2.3% |
| Spain | 3.1 | 2.5 | 4.2 | 3.3 | 2.1% |
| Iceland | 8.1 | 11.8 | 11.9 | 2.6 | -31.5% |
| Faroe Islands | 3.8 | 5.5 | 4.1 | 2.1 | -17.9% |
| Morocco | 0.6 | 1.0 | 0.7 | 1.7 | 41.5% |
| Others | 17.7 | 15.5 | 15.0 | 23.4 | 9.8% |
| Total | 76.2 | 98.6 | 106 | 110 | 13.0% |
Top Suppliers of Frozen Fish and Seafood to Latvia in 2022:
- Lithuania (22.5K tons)
- Norway (5.9K tons)
- Sweden (5.5K tons)
- United Kingdom (5.0K tons)
- Estonia (4.8K tons)
- Morocco (1.4K tons)
- Netherlands (1.2K tons)
- Faroe Islands (1.2K tons)
- Iceland (1.1K tons)
- Spain (1.1K tons)
Exports of Frozen Fish and Seafood in Latvia
In 2022, shipments abroad of frozen fish and seafood decreased by -1.1% to 43K tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 0.1% against the previous year. As a result, the exports attained the peak of 45K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, frozen fish and seafood exports rose rapidly to $84M in 2022. The total export value increased at an average annual rate of +11.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.
| Export of Frozen Fish and Seafood in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.0 | 4.6 | 8.2 | 16.7 | 102.9% |
| Lithuania | 10.8 | 11.4 | 13.3 | 13.5 | 7.7% |
| Ukraine | 5.0 | 5.7 | 6.5 | 7.2 | 12.9% |
| Poland | 2.4 | 2.6 | 4.8 | 5.6 | 32.6% |
| United Kingdom | 5.7 | 6.3 | 5.4 | 5.6 | -0.6% |
| Estonia | 4.2 | 4.3 | 4.2 | 4.7 | 3.8% |
| Belarus | 1.3 | 3.2 | 3.1 | 3.5 | 39.1% |
| France | 2.0 | 2.3 | 3.3 | 3.0 | 14.5% |
| Germany | 3.2 | 3.1 | 4.0 | 2.9 | -3.2% |
| Netherlands | 0.8 | 0.5 | 0.6 | 2.4 | 44.2% |
| Romania | 1.5 | 1.6 | 1.5 | 1.3 | -4.7% |
| Ghana | 0.7 | 0.4 | 0.6 | 0.9 | 8.7% |
| Kazakhstan | 0.3 | 0.5 | 0.9 | 0.8 | 38.7% |
| Others | 21.4 | 18.5 | 21.0 | 16.2 | -8.9% |
| Total | 61.2 | 65.1 | 77.4 | 84.2 | 11.2% |
Top Export Markets for Frozen Fish and Seafood from Latvia in 2022:
- Ukraine (13.4K tons)
- Lithuania (4.1K tons)
- Belarus (4.1K tons)
- Poland (3.3K tons)
- Ghana (2.1K tons)
- Germany (1.9K tons)
- Romania (1.6K tons)
- Estonia (1.6K tons)
- Kazakhstan (1.5K tons)
- United States (1.4K tons)
- United Kingdom (1.2K tons)
- Netherlands (1.0K tons)
- France (1.0K tons)
This report provides an in-depth analysis of the market for frozen fish and seafood in Latvia. 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 2030.
Product coverage:
- Prodcom 10201330 - Frozen whole salt water fish
- Prodcom 10201360 - Frozen whole fresh water fish
- Prodcom 10201600 - Frozen fish livers and roes
- Prodcom 10201500 - Frozen fish meat without bones (excluding fillets)
- Prodcom 10201400 - Frozen fish fillets
- Prodcom 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
- Prodcom 10203200 - Molluscs (scallops, mussels, cuttle fish, squid and octopus), frozen, dried, smoked, salted or in brine
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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