Denmark: Frozen Lobster Market 2024

Frozen Lobster Market Size in Denmark

In 2022, after two years of decline, there was significant growth in the Danish frozen lobster market, when its value increased by 549% to $X. Overall, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Lobster Production in Denmark

In value terms, frozen lobster production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Frozen Lobster Exports

Exports from Denmark

In 2022, the amount of frozen lobster exported from Denmark contracted significantly to X tons, shrinking by -17.7% on 2021. Over the period under review, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 91%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, frozen lobster exports contracted to $X in 2022. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 112%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Italy (X tons), Sweden (X tons) and France (X tons) were the main destinations of frozen lobster exports from Denmark, with a combined 66% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +182.2%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Sweden ($X) and Norway ($X) constituted the largest markets for frozen lobster exported from Denmark worldwide, together accounting for 59% of total exports. France, Germany, Belgium, Iceland, Switzerland, Finland, the Netherlands, Austria and Greenland lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, France, with a CAGR of +195.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen lobster export price amounted to $X per ton, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2021 when the average export price increased by 39%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Greenland ($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 Switzerland (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Denmark

In 2022, frozen lobster imports into Denmark surged to X tons, picking up by 92% compared with the year before. Overall, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen lobster imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest frozen lobster supplier to Denmark, with a 85% share of total imports. Moreover, frozen lobster imports from Canada exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada stood at +26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+61.9% per year) and the United States (+10.7% per year).

In value terms, Canada ($X) constituted the largest supplier of frozen lobster to Denmark, comprising 83% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7.5% share of total imports. It was followed by the United States, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada totaled +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+74.3% per year) and the United States (+6.3% per year).

Import Prices by Country

In 2022, the average frozen lobster import price amounted to $X per ton, with an increase of 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 an increase of 38%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 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 France ($X per ton), while the price for the United States ($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 Netherlands (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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