New Zealand: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in New Zealand

The New Zealand frozen fish and seafood market surged to $X in 2023, increasing by X% against the previous year. In general, consumption recorded a buoyant increase. Frozen fish and seafood consumption peaked in 2023 and is likely to see gradual growth in the immediate term.

Production of Frozen Fish and Seafood in New Zealand

In value terms, frozen fish and seafood production contracted slightly to $X in 2023 estimated in export price. In general, production continues to indicate a mild reduction. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.

Exports of Frozen Fish and Seafood

Exports from New Zealand

In 2023, approx. X tons of frozen fish and seafood were exported from New Zealand; approximately reflecting 2022 figures. In general, exports recorded a noticeable contraction. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports reached $X in 2023. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for frozen fish and seafood exports from New Zealand, with a X% share of total exports. Moreover, frozen fish and seafood exports to China exceeded the volume sent to the second major destination, Australia (X tons), twofold. Cameroon (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Cameroon (X% per year).

In value terms, China ($X), the United States ($X) and Australia ($X) were the largest markets for frozen fish and seafood exported from New Zealand worldwide, with a combined X% share of total exports. Poland, Spain, Japan, Cameroon, South Africa, Denmark, Vietnam, Togo, Cote d'Ivoire and Congo lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Togo, with a CAGR of X%, saw 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

In 2023, the average frozen fish and seafood export price amounted to $X per ton, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cote d'Ivoire ($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 United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into New Zealand

Frozen fish and seafood imports into New Zealand expanded modestly to X tons in 2023, growing by X% against 2022. In general, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, frozen fish and seafood imports totaled $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of frozen fish and seafood imports to New Zealand, together accounting for X% of total imports. Australia, Ecuador, Norway, Mauritius, Malaysia, Thailand, the United States and Argentina 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 Ecuador (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), China ($X) and India ($X) constituted the largest frozen fish and seafood suppliers to New Zealand, together comprising X% of total imports. Vietnam, Norway, Ecuador, Mauritius, Malaysia, Thailand, the United States and Argentina lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, recorded 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 fish and seafood import price stood at $X per ton in 2023, approximately mirroring the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then shrank in the following year.

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

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

Source: IndexBox Platform