France: Frozen Lobster Market 2024

Frozen Lobster Market Size in France

For the fourth consecutive year, the French frozen lobster market recorded growth in sales value, which increased by 8.7% to $X in 2022. In general, consumption saw a strong expansion. Frozen lobster consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Frozen Lobster Exports

Exports from France

In 2022, shipments abroad of frozen lobster increased by 38% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted noticeable growth. The pace of growth appeared the most rapid in 2021 when exports increased by 108%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen lobster exports surged to $X in 2022. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 106%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Spain (X tons), Italy (X tons) and Germany (X tons) were the main destinations of frozen lobster exports from France, together comprising 58% of total exports. Switzerland, the United Arab Emirates, Belgium, the Netherlands, the UK and Portugal lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +42.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen lobster exported from France were Spain ($X), Italy ($X) and Switzerland ($X), together comprising 58% of total exports. Belgium, Germany, the United Arab Emirates, the Netherlands, the UK and Portugal lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +39.0%, 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

The average frozen lobster export price stood at $X per ton in 2022, rising by 6.5% against the previous year. Over the period under review, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster export price increased by +86.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 37% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United Arab Emirates ($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 Portugal (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into France

For the fourth consecutive year, France recorded growth in overseas purchases of frozen lobster, which increased by 16% to X tons in 2022. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 23% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, frozen lobster imports surged to $X in 2022. Overall, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Canada (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of frozen lobster imports to France, together accounting for 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +107.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen lobster suppliers to France were Canada ($X), Belgium ($X) and Ireland ($X), with a combined 86% share of total imports. The Netherlands, the UK and the United States lagged somewhat behind, together accounting for a further 9%.

The Netherlands, with a CAGR of +109.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen lobster import price stood at $X per ton in 2022, surging by 5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 28%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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