Sweden: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Sweden

After two years of growth, the Swedish frozen fish and seafood market decreased by X% to $X in 2023. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen Fish and Seafood in Sweden

In value terms, frozen fish and seafood production expanded markedly to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Frozen fish and seafood production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

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Exports of Frozen Fish and Seafood

Exports from Sweden

In 2023, after two years of decline, there was significant growth in overseas shipments of frozen fish and seafood, when their volume increased by X% to X tons. Overall, total exports indicated a perceptible expansion 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood exports skyrocketed to $X in 2023. In general, exports posted buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

Poland (X tons) was the main destination for frozen fish and seafood exports from Sweden, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Poland exceeded the volume sent to the second major destination, Germany (X tons), twofold. Lithuania (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 Poland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Lithuania (X% per year).

In value terms, Poland ($X), Germany ($X) and France ($X) were the largest markets for frozen fish and seafood exported from Sweden worldwide, together accounting for X% of total exports. Lithuania, Spain, Latvia, the Netherlands, Finland, Denmark, Romania, the Czech Republic, Estonia and Croatia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Lithuania, with a CAGR of X%, recorded 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, dropping by X% against the previous year. In general, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then fell slightly in the following year.

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

Imports of Frozen Fish and Seafood

Imports into Sweden

For the sixth year in a row, Sweden recorded growth in supplies from abroad of frozen fish and seafood, which increased by X% to X tons in 2023. Over the period under review, total imports indicated a resilient increase 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, imports increased by X% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood imports amounted to $X in 2023. In general, total imports indicated a prominent increase 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 2015 indices. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum in 2023 and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Norway (X tons) constituted the largest supplier of frozen fish and seafood to Sweden, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Norway exceeded the figures recorded by the second-largest supplier, Denmark (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Norway amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and China (X% per year).

In value terms, Norway ($X) constituted the largest supplier of frozen fish and seafood to Sweden, comprising X% of total imports. The second position in the ranking was held by Denmark ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Norway totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and China (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

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 the Netherlands ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform