Iceland: Market for Frozen Fish And Seafood 2019

Market Size for Frozen Fish And Seafood in Iceland

The revenue of the frozen fish and seafood market in Iceland amounted to $X in 2018, increasing by X% against the previous year. Overall, frozen fish and seafood consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. In that year, the frozen fish and seafood market reached its peak level and is likely to continue its growth in the immediate term.

Production of Frozen Fish And Seafood in Iceland

In value terms, frozen fish and seafood production totaled $X in 2018 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. In that year, frozen fish and seafood production reached its peak level of $X. From 2015 to 2018, frozen fish and seafood production growth failed to regain its momentum.

Exports of Frozen Fish And Seafood

Exports from Iceland

In 2018, approx. X tons of frozen fish and seafood were exported from Iceland; approximately mirroring the previous year. In general, frozen fish and seafood exports continue to indicate a mild drop. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. Iceland exports peaked at X tons in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports stood at $X in 2018. Over the period under review, frozen fish and seafood exports continue to indicate an abrupt drop. The pace of growth appeared the most rapid in 2011 when exports increased by X% against the previous year. In that year, frozen fish and seafood exports attained their peak of $X. From 2012 to 2018, the growth of frozen fish and seafood exports failed to regain its momentum.

Exports by Country

In 2018, China (X tons), distantly followed by Russia (X tons), the U.S. (X tons), Norway (X tons) and the Netherlands (X tons) were the main exporters of frozen fish and seafood, together constituting X% of total exports. The following exporters - Taiwan, Chinese (X tons), Japan (X tons), Spain (X tons), India (X tons), Chile (X tons), Germany (X tons) and Namibia (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the frozen fish and seafood exports, with a CAGR of +X% from 2007 to 2018. At the same time, Germany (+X%), India (+X%), Namibia (+X%), Russia (+X%), the Netherlands (+X%), Taiwan, Chinese (+X%) and the U.S. (+X%) displayed positive paces of growth. Japan, Spain, Norway and Chile experienced a relatively flat trend pattern. China (+X p.p.), Russia (+X p.p.), the Netherlands (+X p.p.) and Germany (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen fish and seafood supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Russia ($X), with a X% share of global exports. It was followed by the U.S., with a X% share.

In China, frozen fish and seafood exports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Russia (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

In 2018, the frozen fish and seafood export price in Iceland amounted to $X per ton, dropping by -X% against the previous year. Over the period under review, the frozen fish and seafood export price continues to indicate a moderate curtailment. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. Iceland export price peaked at $X per ton in 2007; however, from 2008 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Iceland

Frozen fish and seafood imports into Iceland totaled X tons in 2018, falling by -X% against the previous year. Overall, frozen fish and seafood imports continue to indicate a drastic contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, frozen fish and seafood imports reached their maximum at X tons in 2011; however, from 2012 to 2018, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports totaled $X in 2018. Over the period under review, frozen fish and seafood imports continue to indicate an abrupt reduction. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. In that year, frozen fish and seafood imports attained their peak of $X. From 2009 to 2018, the growth of frozen fish and seafood imports remained at a somewhat lower figure.

Imports by Country

The imports of the three major importers of frozen fish and seafood, namely China, Japan and Thailand, represented more than third of total import. It was distantly followed by South Korea (X tons), mixing up a X% share of total imports. The following importers - Vietnam (X tons), Nigeria (X tons), Spain (X tons), the Netherlands (X tons), Germany (X tons), Cameroon (X tons), Ukraine (X tons) and the Philippines (X tons) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported frozen fish and seafood into Iceland, comprising X% of global imports. The second position in the ranking was occupied by China ($X), with a X% share of global imports. It was followed by Thailand, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Japan amounted to +X%. In the other countries, the average annual rates were as follows: China (+X% per year) and Thailand (+X% per year).

Import Prices by Country

The frozen fish and seafood import price in Iceland stood at $X per ton in 2018, rising by X% against the previous year. In general, the import price indicated a prominent increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, frozen fish and seafood import price increased by +X% against 2016 indices. The growth pace was the most rapid in 2018 an increase of X% y-o-y. In that year, the import prices for frozen fish and seafood attained their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Philippines, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform