Ireland: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Ireland

In 2023, the Irish frozen fish and seafood market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Frozen fish and seafood consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen Fish and Seafood in Ireland

In value terms, frozen fish and seafood production rose modestly to $X in 2023 estimated in export price. In general, production showed a slight downturn. The pace of growth appeared the most rapid in 2017 with an increase of X%. Frozen fish and seafood production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports from Ireland

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. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports contracted to $X in 2023. Overall, exports saw a mild shrinkage. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for frozen fish and seafood exports from Ireland, with a X% share of total exports. Moreover, frozen fish and seafood exports to Nigeria exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Nigeria totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the UK (X% per year).

In value terms, the largest markets for frozen fish and seafood exported from Ireland were Italy ($X), Nigeria ($X) and France ($X), together comprising X% of total exports. The UK, Spain, Japan, China, Romania, Germany, Poland, Egypt, Congo and Cote d'Ivoire lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Congo ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Ireland

In 2023, after two years of growth, there was significant decline in purchases abroad of frozen fish and seafood, when their volume decreased by X% to X tons. Over the period under review, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, frozen fish and seafood imports contracted slightly to $X in 2023. Overall, total imports indicated a prominent expansion 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then shrank slightly in the following year.

Imports by Country

The UK (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of frozen fish and seafood imports to Ireland, together comprising X% of total imports. India, Denmark, Spain, Russia, South Africa, Germany, Vietnam, France, Belgium and Indonesia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to Ireland were the Netherlands ($X), the UK ($X) and China ($X), with a combined X% share of total imports. India, Denmark, Spain, Russia, South Africa, Vietnam, Germany, Belgium, France and Indonesia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average frozen fish and seafood import price amounted to $X per ton, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. 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 Spain ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform