Finland: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Finland

In 2022, the Finnish market for fish fillets and other fish meat decreased by -2.5% to $X, falling for the second year in a row after three years of growth. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.7% against 2020 indices. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fillets and Other Fish Meat in Finland

In value terms, production of fish fillets and other fish meat declined to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 -8.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 64% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Fish Fillets and Other Fish Meat

Exports from Finland

In 2022, shipments abroad of fish fillets and other fish meat decreased by -47.3% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 190% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of fish fillets and other fish meat contracted notably to $X in 2022. In general, exports, however, recorded a slight increase. The growth pace was the most rapid in 2020 with an increase of 139% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for exports of fish fillets and other fish meat from Finland, with a 49% share of total exports. Moreover, exports of fish fillets and other fish meat to Sweden exceeded the volume sent to the second major destination, Estonia (X tons), threefold. Japan (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-15.8% per year) and Japan (+19.5% per year).

In value terms, Sweden ($X) emerged as the key foreign market for fish fillets and other fish meat exports from Finland, comprising 58% of total exports. The second position in the ranking was taken by Estonia ($X), with a 12% share of total exports. It was followed by Germany, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Sweden totaled +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-12.0% per year) and Germany (+48.8% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, picking up by 56% against the previous year. In general, the export price saw a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Japan ($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 Vietnam (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Finland

In 2022, overseas purchases of fish fillets and other fish meat decreased by -9.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a mild downturn. The pace of growth was the most pronounced in 2019 with an increase of 30% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of fish fillets and other fish meat surged to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 52%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Norway (X tons) constituted the largest supplier of fish fillets and other fish meat to Finland, accounting for a 45% share of total imports. Moreover, imports of fish fillets and other fish meat from Norway exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+6.8% per year) and Sweden (-4.6% per year).

In value terms, Norway ($X) constituted the largest supplier of fish fillets and other fish meat to Finland, comprising 65% of total imports. The second position in the ranking was held by Poland ($X), with a 6.9% share of total imports. It was followed by Sweden, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Norway amounted to +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+6.1% per year) and Sweden (-4.7% per year).

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, jumping by 33% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fish fillets and other fish meat increased by +30.4% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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