Greece: Frozen Lobster Market 2024

Frozen Lobster Market Size in Greece

In 2022, the Greek frozen lobster market increased by 49% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed resilient growth. Frozen lobster consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Frozen Lobster Exports

Exports from Greece

In 2022, approx. X tons of frozen lobster were exported from Greece; rising by 23% against the previous year's figure. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 186% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

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 2017 with an increase of 174% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Cyprus (X tons), Albania (X tons) and the United Arab Emirates (X kg) were the main destinations of frozen lobster exports from Greece, with a combined 82% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Albania (with a CAGR of +184.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) remains the key foreign market for frozen lobster exports from Greece, comprising 46% of total exports. The second position in the ranking was taken by Albania ($X), with a 16% share of total exports. It was followed by Romania, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus stood at +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+218.6% per year) and Romania (+6.9% per year).

Export Prices by Country

In 2022, the average frozen lobster export price amounted to $X per ton, increasing by 9.6% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.4% 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 +61.1% against 2018 indices. The growth pace was the most rapid in 2014 when the average export price increased by 31% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Albania ($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 Bulgaria (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Greece

In 2022, supplies from abroad of frozen lobster increased by 27% to X tons, rising for the second year in a row after two years of decline. Overall, imports posted slight growth. The most prominent rate of growth was recorded in 2021 when imports increased by 208%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen lobster imports skyrocketed to $X in 2022. Over the period under review, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 249% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; afterwards, it flattened through to 2022.

Imports by Country

France (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of frozen lobster imports to Greece, together comprising 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and the Netherlands ($X) were the largest frozen lobster suppliers to Greece, with a combined 89% share of total imports.

France, with a CAGR of +32.4%, saw the highest growth rate of the value of imports, among 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, picking up by 22% against the previous year. Overall, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster import price increased by +126.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 41%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+30.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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