Russian Federation: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in the Russian Federation

The Russian frozen fish and seafood market was estimated at $X in 2023, growing by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Production of Frozen Fish and Seafood in the Russian Federation

In value terms, frozen fish and seafood production rose to $X in 2023 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2023: its value 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 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

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Exports of Frozen Fish and Seafood

Exports from the Russian Federation

In 2023, approx. X tons of frozen fish and seafood were exported from Russia; declining by X% against the previous year's figure. Overall, total exports indicated modest growth from 2012 to 2023: its volume 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, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2022, and then reduced in the following year.

In value terms, frozen fish and seafood exports declined to $X in 2023. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2023: its value 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 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank in the following year.

Exports by Country

Poland (X tons), Norway (X tons) and Portugal (X tons) were the main destinations of frozen fish and seafood exports from Russia, with a combined X% share of total exports. The Netherlands, Germany, South Africa, Nigeria, Denmark, Lithuania, Malaysia, Egypt, Azerbaijan and Georgia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen fish and seafood exported from Russia were Poland ($X), Portugal ($X) and Norway ($X), together comprising X% of total exports. The Netherlands, Germany, Denmark, Malaysia, Nigeria, Georgia, Lithuania, South Africa, Egypt and Azerbaijan lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 fish and seafood export price stood at $X per ton in 2023, flattening at the previous year. Overall, the export price, however, posted a notable increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the average export prices failed to regain momentum.

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

Imports of Frozen Fish and Seafood

Imports into the Russian Federation

In 2023, after three years of decline, there was significant growth in supplies from abroad of frozen fish and seafood, when their volume increased by X% to X tons. Overall, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports rose significantly to $X in 2023. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Chile (X tons), Turkey (X tons) and Egypt (X tons) were the main suppliers of frozen fish and seafood imports to Russia, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of X.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Egypt ($X) and Turkey ($X) appeared to be the largest frozen fish and seafood suppliers to Russia, with a combined X% share of total imports.

Egypt, with a CAGR of X.5%, recorded the highest growth rate of 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

In 2023, the average frozen fish and seafood import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, continues to indicate a strong expansion. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then dropped markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform