EU: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in the EU

In 2023, the EU frozen fish and seafood market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2022, and then shrank in the following year.

Production of Frozen Fish and Seafood in the EU

In value terms, frozen fish and seafood production declined slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2022, and then dropped slightly in the following year.

Exports of Frozen Fish and Seafood

Exports in the EU

In 2023, overseas shipments of frozen fish and seafood decreased by X% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports stood at $X in 2023. Total exports indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) and Spain (X tons) represented roughly X% of total exports in 2023. Denmark (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Germany (X%) and Portugal (X%). Poland (X tons), Sweden (X tons), Ireland (X tons), France (X tons), Belgium (X tons) and Estonia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the Netherlands ($X) and Denmark ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Poland, Germany, Portugal, Belgium, Sweden, France, Ireland and Estonia lagged somewhat behind, together comprising a further X%.

Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports in the EU

In 2023, after two years of growth, there was decline in overseas purchases of frozen fish and seafood, when their volume decreased by X% to X tons. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then dropped slightly in the following year.

In value terms, frozen fish and seafood imports reduced to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then contracted slightly in the following year.

Imports by Country

Spain (X tons) and the Netherlands (X tons) represented the largest importers of frozen fish and seafood in 2023, resulting at near X% and X% of total imports, respectively. Italy (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%), Germany (X%), Poland (X%), Portugal (X%) and Denmark (X%).

From 2012 to 2023, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and France ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. The Netherlands, Germany, Denmark, Poland and Portugal lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to 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 the European Union stood at $X per ton in 2023, waning by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform