Eastern Europe: Frozen Lobster Market 2024

Frozen Lobster Market Size in Eastern Europe

The East European frozen lobster market fell to $X in 2022, which is down by -10.1% against the previous year. Overall, consumption showed a pronounced setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Frozen Lobster Production in Eastern Europe

In value terms, frozen lobster production stood at $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 18%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Frozen Lobster Exports

Exports in Eastern Europe

After two years of decline, shipments abroad of frozen lobster increased by 104% to X tons in 2022. In general, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 249% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen lobster exports soared to $X in 2022. Over the period under review, exports saw a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by 469% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Lithuania (X kg), distantly followed by Poland (X kg), Latvia (X kg), Hungary (X kg), Romania (X kg), the Czech Republic (X kg) and Estonia (X kg) were the major exporters of frozen lobster, together committing 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +43.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen lobster supplying countries in Eastern Europe were Latvia ($X), Lithuania ($X) and Poland ($X), with a combined 58% share of total exports.

Among the main exporting countries, Lithuania, with a CAGR of +39.5%, recorded 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 export price in Eastern Europe amounted to $X per ton, picking up by 6.9% against the previous year. Overall, the export price showed strong growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 89%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+21.4%), while the other leaders experienced more modest paces of growth.

Frozen Lobster Imports

Imports in Eastern Europe

In 2022, the amount of frozen lobster imported in Eastern Europe dropped remarkably to X tons, which is down by -17.5% compared with the previous year's figure. In general, imports continue to indicate a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 72% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen lobster imports dropped rapidly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 93%. The level of import peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

Poland (X tons) and Romania (X tons) were the main importers of frozen lobster in 2022, reaching near 28% and 24% of total imports, respectively. Estonia (X tons) ranks next in terms of the total imports with a 12% share, followed by Lithuania (9.1%), the Czech Republic (8.9%), Hungary (7.1%) and Latvia (5.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lithuania (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Romania ($X) and Lithuania ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 67% share of total imports.

Romania, with a CAGR of +18.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, reducing by -3.5% against the previous year. In general, the import price, however, posted buoyant growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 176% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then declined in the following year.

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 Poland ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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